Not-for-profit and registered charity Credit Canada will provide newcomers with targeted
financial literacy and education
TORONTO, April 28, 2017 /CNW/ - With the release of the 2017 Ontario Budget, Credit Canada is proud to announce the Ministry of Finance will be supporting a new financial literacy program, Newcomers & Money 101 where Credit Canada will be providing financial literacy training and tools to newcomers to help establish their long-term financial stability.
"At Credit Canada we see how financial literacy empowers people," states Credit Canada CEO, Laurie Campbell. "Our non-profit organization is about supporting equal opportunities for all individuals from all walks of life through the provision of financial literacy and education. We are extremely happy to be able to help newcomers and their families because these individuals have taken enormous risks in uprooting their entire lives for a better future. We want to make sure they get a solid start to their new life in Canada, and part of that is being able to successfully navigate in the Canadian financial economy."
Newcomers & Money 101 focuses on the four pillars of financial knowledge: (1) the Canadian banking system, (2) money management and budgeting, (3) handling credit, and (4) fraud.
Workshops will be conducted at selected Credit Canada office locations across the province, and through partner credit counselling agencies and Ontario community outreach centres. Credit Canada has developed strong partnerships with numerous organizations serving newcomers and will be working with settlement organizations to translate workshop content and materials into relevant languages.
"Providing a strong foundation in financial literacy is critical in helping newcomers thrive and succeed," states Jeff Good, Credit Canada President and Chair. "Our program puts the tools newcomers need directly into their hands so they can become more financially empowered and make better budgeting and spending choices, helping ensure success for themselves and their families, which in turn will support Ontario's future economic growth and strength."
Newcomers are especially vulnerable to fraudulent schemes due to a lack of basic Canadian financial literacy and knowledge.
"Our goal is to help newcomers improve their household stability and employability, and provide increased access to safe and affordable banking products," added Campbell. "The fallout will be fewer cases of fraud, less reliance on high-cost financial services, and reduced financial distress. It's win-win across the board."
ABOUT CREDIT CANADA
Credit Canada Debt Solutions is a not-for-profit charitable service providing personal debt consolidation and resolutions, as well as free credit counselling services for people experiencing debt problems and financial distress. As the founding member of credit counselling in Canada, Credit Canada is a leader in financial literacy and the longest-standing credit counselling agency in the country, having helped over two million Canadians achieve financial empowerment throughout its 50+ year history. For more information visit creditcanada.com or call 1.800.267.2272.
SOURCE Credit Canada Debt Solutions
For further information: MEDIA INQUIRIES CONTACT: Laurie Campbell, Chief Executive Officer, Credit Canada, 416.228.2526, [email protected]