SOURCE: Vancity

Vancity

SOURCE: Canadian Credit Union Association

Canadian Credit Union Association

November 04, 2016 13:00 ET

Canadians get a grip on debt

Financial literacy program

VANCOUVER, BC--(Marketwired - November 04, 2016) - Canada's credit unions are marking Financial Literacy Month by celebrating the national launch of an award-winning financial literacy program: Each One, Teach One.

The program, originally created by Vancity Credit Union in 2008, has expanded to include 60 Canadian Credit Union Association-affiliated credit unions across the country with more than 100 credit union employees certified to deliver financial literacy workshops in their own communities.

The Each One, Teach One program is delivered by volunteers and covers basic banking, budgeting, taxation, developing a credit history, loans, credit cards knowledge, fraud prevention and more.

"Helping Canadians manage their money wisely, decrease their debt and increase their savings is especially timely and important now," says Jane Rooney, Canada's Financial Literacy Leader. "I am encouraged by programs like these because of their impact in helping Canadians learn new money management skills that can last a lifetime."

So far, the expanded program is offering 35 workshops in cities across Canada during Financial Literacy Month and early December -- with many more planned for 2017 and beyond as credit unions train their staff to offer the program.

"The financial well-being of Canadians has always been a cornerstone of the Canadian credit union system. This program brings us back to our roots as co-operative financial institutions at a time when financial knowledge and capability could not be more important to Canadians. We're thrilled credit unions have come together to offer this program across the country," says Martha Durdin, president and CEO of the Canadian Credit Union Association.

The Each One, Teach One program is often held in partnership with community organizations who work with newcomers, refugees, people who face barriers to financial services, and those living in low-income communities.

"Financial literacy is one of the first steps on the road to economic strength and independence," says Linda Morris, Vancity's senior vice-president of member community engagement. "We created this program to provide members of our community with the knowledge, skills and confidence they need to make informed financial decisions."

To learn more about the Each One, Teach One workshops, and how to get one set up in your community, please contact Kate Martin at kmartin@ccua.com.

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