Plan for Your Diploma or Degree, But Not Debt

Credit Counselling Society Establishes Memorial Scholarship to Honour Scott Hannah

NEW WESTMINSTER, BC , Jan. 18, 2024 /CNW/ - In recognition of the critical importance financial literacy and money skills play in the current and future financial wellbeing of students, the Credit Counselling Society (CCS) is pleased to announce the inaugural Scott Hannah Memorial Scholarship. This scholarship was established by the Society's Board of Directors in honour of its founder and retired President & CEO, Scott Hannah, who sadly passed away in June 2023.

"For his unparalleled work and focus on providing access to education on a variety of financial literacy topics, the Board found it a fitting tribute to establish this memorial scholarship in his name. The next generation is coming of age financially, during unprecedented economic times," states Board Chair, Sue Ryan "When it comes to learning money management skills, Scott was always keen to emphasize the importance of giving a hand up, not a hand-out. We are pleased to help carry on this legacy in his name."

For its inaugural year, the scholarship is aimed at grade 12 students who have a passion for personal finance and plan to actively pursue post-secondary education. "Students will be asked to make written or video submissions about why they are passionate about being smart with their money," explains CCS President & CEO, Peta Wales. "We recognize and value the critical role this generation has in promoting education and awareness around financial literacy and we're excited to see the creative ideas students bring forward in their responses."

The scholarship officially opened on January 1, 2024 with a goal to award five $1,000 scholarships in its first year. Whether it be a trades certification, vocational program, college or university, students in BC, Alberta, Saskatchewan, Manitoba, Ontario and the Territories are encouraged to check out the official Scott Hannah Memorial Scholarship page where all the submission criteria and eligibility requirements are posted.

Guiding the topic of the inaugural scholarship are Scott's own words, that "It's more important to focus on your health and overall financial well-being than a three-digit number [referring to Canadians' fixation with credit scores]. Manage your money and credit wisely and your score will take care of itself."

Scott Hannah was chosen by the credit granting community to establish CCS in 1996 and his leadership tenure continued for nearly three decades, until his retirement in early 2023. A focused vision combined with a passion to help others, ensured CCS's humble beginnings flourished into the organization it is today. Scott brought energy and passion to the world of financial education, credit counselling, and personal finance. He had a genuine care for others and an unwavering commitment to consumer protection. As a result, millions of consumers' financial well-being have been improved as a direct impact of Scott's commitment to his work. Not a day goes by where his influence cannot be felt.

"Scott cared deeply about ensuring students don't saddle themselves with debt as they get ready for life after post-secondary," recalls Anne Arbour, Director of Partnerships and Education at CCS. "He understood that weak financial literacy could set them back and impact other goals, right at a time when they should be looking forward to the future."

Scott championed many consumer protection changes in the credit industry, but none were more poignant than driving awareness around the negative impact of normalization of debt in favour of saving for the future. To help young adults save, CCS is proud to offer scholarships in Scott's name to students focusing on financial stability; one in which they are not graduating with debt, as they set their career goals and embark on their futures.

About the Credit Counselling Society (CCS) 
The Credit Counselling Society is a non-profit organization dedicated to helping consumers manage their money and debt better. CCS provides free, confidential credit counselling, debt repayment options, budgeting assistance and financial education. Visit nomoredebts.org to learn more.

Media Inquiries:
The Credit Counselling Society has spokespeople from across Canada available for interviews to discuss this topic in more detail as well as any other relevant financial topics. Please feel free to reach out to the number below: 

SOURCE Credit Counselling Society

John Lock, Director of Marketing, Direct: 604.636.0277, Email: [email protected]