Financial Consumer Agency of Canada

Financial Consumer Agency of Canada

December 17, 2013 09:00 ET

Financial Understanding: It Just Adds Up-to Big Prizes for Canadian Youth

The Financial Consumer Agency of Canada announces its Financial Literacy Month 2013 video contest winners

OTTAWA, ONTARIO--(Marketwired - Dec. 17, 2013) - The results are in and three young Canadians will be spending the holidays taking advantage of their well-deserved prize following the Financial Consumer Agency of Canada (FCAC) second Financial Literacy Month (FLM) video contest.

Aimed at taping into young talent and energy, the video contest invited Canadian students aged 13 to 19 to show off their financial savvy by producing a video that demonstrated how talking with someone about money helped them achieve a financial goal.

The entries received from across Canada demonstrate that Canadian students know the importance of money management and who to turn to for financial advice. Those who entered the contest had creative ways of highlighting the guidance they received from a friend, sibling or parent as they set out to save for goals including university tuition and a down payment for a car.

"As our children prepare to move into adulthood and out on their own to attend university or enter the workforce, they need to know the basics of how to manage their money," said FCAC Commissioner Lucie Tedesco. "As they build experience and knowledge and as their knowledge grows, they can strengthen the good financial habits they were taught by their friends, parents and teachers. This is precisely what this year's video contest was looking to showcase as part of FLM 2013."

A FCAC jury narrowed the videos down to eight finalists, followed by a second jury who selected the top three winners from these eight finalists based on creativity, production quality and messaging. This year's video contest winners are:

- 1st place: Charlotte Cheng, a 16-year-old from LaSalle, ON, has won a 13" MacBook Pro.

- 2nd place: Matthew Lau, a 13-year-old from Vancouver, BC, has won a 16-GB iPad with Wi-Fi.

- 3rd place: Chad Nadin, a 13-year-old from Oakville, ON, has won an 8-GB iPod Touch.

One of the final eight also had an opportunity to win a special "People's Choice" award: a $50 iTunes gift card to the student whose video received the most "likes" on YouTube by 11:59 pm EST on December 13, 2013. The "People's Choice" was awarded to Matthew Lau, a 13-year-old from Vancouver, BC, whose video got 46 "likes."

The winners were selected by a FCAC jury comprised of Jane Rooney, Director of Financial Literacy and Consumer Education, Bruno Lévesque, Director of Research, André-Marc Allain, Director of Marketing and Communications and Lucie Tedesco, FCAC Commissioner.

All eligible videos were uploaded onto FCAC's YouTube channel, where people had the chance to view, "like" and comment on them. Altogether, they collected more than 3,288 views, 258 likes and 35 comments.

About FCAC

With educational materials and interactive tools, FCAC provides objective information about financial products and services to help Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC informs consumers about their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. FCAC also makes sure that federally regulated financial institutions, payment card network operators and external complaints bodies comply with legislation and industry commitments intended to protect consumers.

You can reach us through FCAC's Consumer Services Centre by calling toll-free 1-866-461-3222 (TTY: 613-947-7771 or 1-866-914-6097) or by visiting our website:

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