$700,000 in grants will be invested in much-needed financial education
TORONTO, June 9, 2011 /CNW/ - Social and Enterprise Development
Innovations (SEDI) today announced the ten community organizations that
have been awarded a total of $700,000 in funding to support financial
education from the TD Financial Literacy Grant Fund.
SEDI administers the Fund and received 170 applications from
organizations serving a variety of groups, including women, youth,
Aboriginal Peoples and newcomers to Canada. Grants to the financial
literacy initiatives were awarded with a focus on three areas:
innovation, research & development, and strategic program development.
"Initiatives that help Canadians better manage their money are more
needed than ever. Currently, Canadians owe a record high of $1.50 for
every $1 of disposable income," said Laura Watts, CEO of SEDI. "The
significant number of applications we received demonstrates the
tremendous demand for financial literacy support in our communities. At
SEDI, we are committed to joining forces with community, government and
business partners like TD to help all Canadians, particularly those on
low incomes, build a better financial future."
In the past year, the Fund has awarded $2.4 million to 29 community
organizations across Canada.
"Each of these organizations is making an important and positive impact
in their communities," said Scott Mullin, Vice-President, Community
Relations, TD Bank Group. "The TD Financial Literacy Grant Fund will
help grantees foster innovation and extend their program reach to
benefit more people."
The Fund will enable Promoting Education and Community Health (PEACH), a
Toronto-based organization, to conduct research and local
consultations. Information gathered from this process will be used to
pilot a financial literacy program for marginalized youth in the
community of Jane and Finch.
"With the support from the TD Financial Literacy Grant Fund, we will
pilot an innovative, youth-centred, financial literacy program with 40
marginalized youth in our community," said Marilyn Eisenstat, Managing
Director, PEACH. "It is our hope that our community and communities
like ours will benefit from the learning that this grant enables. We
want to reach youth who otherwise would not be exposed to financial
literacy skills - and to do this with respectful recognition of the
challenges they face."
The successful grantees are:
Supporting Employment and Economic Development Winnipeg Inc. (SEED)
Antigonish Women's Resource Centre & Sexual Assault Services Association
PARO Centre for Women's Enterprise, Thunder Bay
Edmonton John Howard Society
Family Enrichment & Counselling Services Fredericton Inc.
Carrefour Jeunesse-Emploi de Cote-des-Neiges, Montréal
Entraide budgetaire Ottawa
Promoting Education and Community Health (PEACH), Toronto
Girls Incorporated of Durham
Tl'azt'en Nation, Fort St. James
Supporting Employment and Economic Development Winnipeg (SEED) was
selected for a project that will train community based educators from
war-affected communities to provide financial literacy education in the
first languages of community members. "Our goal is to support the
successful economic and social integration of families who have arrived
in Canada, whose first language is not English or French, so they can
better prepare for their new lives in Canada and broaden their social
networks," said Louise Simbandumwe, Director of Asset Building
The Fund is now accepting applications for its third round of grants. Applications should be submitted by August 3, 2011. Charitable and nonprofit organizations interested in applying for
grants are encouraged to review the Fund's guidelines, FAQs, and
application form available at www.sedi.org/grantfund.
SEDI is a national, charitable organization that uses innovative
approaches to help low-income and at-risk persons gain financial
independence. Since 1986, SEDI has worked with businesses, governments
and more than 1,000 community groups on financial literacy, savings and
entrepreneurship initiatives. SEDI's expertise allows it to influence
public policy, opening the way for low-income Canadians to enter the
social and economic mainstream. For more information, visit www.sedi.org.
TD Community Giving
TD invests in communities to make a positive impact where it does
business and where our customers, clients and employees live and work.
In 2010, TD donated over $50 million to support community organizations
in Canada, the United States and the United Kingdom. In Canada, we
focus on Education and Financial Literacy, Creating Opportunities for
Young People, and the Environment. For more information, visit www.td.com/corporateresponsibility.
SOURCE TD Bank Group
For further information:
TD Financial Literacy Grant Fund/SEDI
416-665-2828, ext. 238
416-665-2828, ext. 226 / Mobile: 647-802-1296