SEDI announces Canada's first Centre for Financial Literacy

    TORONTO, March 19 /CNW/ - Social and Enterprise Development Innovations
(SEDI) today announced that it is developing Canada's first Centre for
Financial Literacy. The centre will help build and develop a national strategy
for financial literacy in Canada.
    "It's time for Canada to make financial literacy a national priority,"
said Peter Nares, SEDI's founding Executive Director. "SEDI's Centre for
Financial Literacy will be a hub of knowledge and action where government,
private and citizen sector organizations will work together to find innovative
solutions to the challenges of money management and how it relates to
    Supported by a multi-sector Steering Committee on Financial Literacy, the
centre will be formally launched this fall. In its first stage, the centre
will bring together financial literacy networks, offer training for front-line
nonprofits throughout Canada, and promote cutting-edge research that will help
shape more effective financial literacy programs and public policies.
    "I applaud SEDI for creating the centre, a national resource that will be
accessible to communities across Canada and an initiative that can help our
economy in the broadest of terms," said Charles Coffey, Chairman of the
Steering Committee on Financial Literacy.
    Two corporate-funded projects are currently being designed and
implemented by the Centre for Financial Literacy. One offers financial
literacy training for youth-focused organizations, the other will teach
Aboriginal Canadians and newcomers how to better manage money.
    "The centre is an extension of the successful work SEDI has been doing in
financial literacy for the past 20 years," said Casey Cosgrove, SEDI's
Director of Financial Literacy Initiatives. "We work with community-based
organizations nationwide to identify the needs of populations at-risk and help
them gain basic financial skills such as budgeting, saving, opening a bank
account, managing credit and debt and avoiding predatory lenders. This way,
low-income Canadians can make informed financial decisions, invest in
long-term assets and hopefully break the cycle of poverty."

    About SEDI

    SEDI is a national non-profit organization that uses innovative
approaches to help low-income Canadians reach self-sufficiency. For over 20
years, SEDI has worked with more than 800 non-profit organizations across
Canada to deliver its programs. SEDI's expertise allows it to influence public
policy, opening the way for Canadians to enter the social and economic
mainstream. The organization's initiatives focus on three areas: financial
literacy, asset-building and entrepreneurship. For more information, visit

For further information:

For further information: Media contact: Luciana Tuzino, SEDI, (416)
665-2828, ext. 226, (647) 802-1296,

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