Canadian Bankers Association

Canadian Bankers Association

March 01, 2012 12:23 ET

Free Seminars Help P.E.I. Students Learn the Financial Basics

TORONTO, ONTARIO--(Marketwire - March 1, 2012) - Do you ever wish you had someone to teach the basics of managing money when you were in high school? Well today the Canadian Bankers Association (CBA) does just that for Prince Edward Island students with its free, non-commercial, financial literacy seminars, taught by local volunteer bankers, through the Your Money program.

The CBA and banks in Canada have been dedicated to boosting financial literacy levels for years. For over a decade, the CBA has brought financial literacy to Canadians through its high school seminar program, Your Money, which has taught more than 1000 Island high school students about budgeting, borrowing, saving, investing, and protecting themselves from fraud. In these non-commercial seminars, bankers from the local community volunteer their time to teach young Canadians about responsible money management.

"Our program gives young adults the opportunity to learn good money management skills early in life, and that's extremely important," said Terry Campbell, President of the Canadian Bankers Association. "We challenge high school students to think about how they can become financially prepared to rent an apartment, buy a car, attend post-secondary education, or whatever their goals may be."

"Many of these students are just starting to earn their own money so it's a reality check in financial literacy, and it really couldn't come at a better time; in fact, I wish there had been something like this when I was in school," said Cody Farrell, a volunteer banker from Royal Bank of Canada in Charlottetown who volunteers to teach the seminars. "We try to make the seminars interactive and engaging by asking them questions and having them prepare a budget. Many of the students are pretty surprised to find out the cost of everyday expenses like rent, utilities or having a car and how hard it can be to set aside money with those expenses."

Students, teachers, parents, and interested bankers who would like to find out more about the Your Money program, or teachers who wish to sign up their class, are encouraged to visit www.yourmoney.cba.ca.

About the Canadian Bankers Association

The Canadian Bankers Association works on behalf of 53 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada's economy. The Association also promotes financial literacy to help Canadians make informed financial decisions and works with banks and law enforcement to help protect customers against financial crime and promote fraud awareness. www.cba.ca

Follow the CBA on Twitter: @CdnBankers

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