Vancity Credit Union

Vancity Credit Union
Vancouver Public Library

Vancouver Public Library

November 26, 2012 13:30 ET

VPL and Vancity Partner to Offer Free Financial Literacy Workshops at VPL Locations Around the City

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - What is a predatory loan? How important is your credit history? How can you safeguard your identity? Vancouver Public Library and Vancity announced today, in conjunction with Financial Literacy Month in Canada, that the two organizations have partnered to offer free financial literacy workshops to provide participants with the knowledge, skills and confidence they need to make responsible financial decisions.

Starting in February - just in time for tax and RRSP season - VPL will host several of Vancity's 'Each One, Teach One' workshops, which cover topics from basic banking and basic budgeting to credit cards, predatory lending, fraud prevention and income tax filing.

"Supporting literacy is one of the vital roles that libraries play in our communities, and this exciting partnership is very much in keeping with that," notes Sandra Singh, VPL's chief executive and chief librarian.

"Information literacy, digital literacy and financial literacy are the foundations of informed, connected and engaged citizens - and that's key to improving social and economic well-being throughout our city," she says.

"We invest in financial literacy because it helps improve the financial and overall well-being of individuals, organizations and our communities," says Linda Morris, Vancity's senior vice-president of business development, member and community engagement.

"Our goal is to provide the tools for people to have the ability to understand, analyze and use financial information to help them make the right decisions about their money."

Statistics Canada research indicates that nearly half of Canadian adults don't have a household budget - and that figure jumps dramatically among younger adults. With issues of high household debt capturing the attention of Canadians, expanding the Vancity sessions through VPL will help bring financial literacy to an even wider audience.

Sessions are initially planned for VPL branches including Kitsilano, Renfrew, Oakridge, Terry Salman and Mount Pleasant, the site of today's announcement, and then will expand to other VPL locations. Workshops will be delivered in English with translation of key elements into languages including Mandarin, Cantonese and Punjabi.

Offerings at VPL will expand later in the year to include Vancity's 'Advice to Go' workshops, which are designed for budding entrepreneurs or anyone considering self-employment; topics include market research, cash flow projections and raising capital.

Vancity launched its award-winning 'Each One, Teach One' in 2008, and since then the program has taught thousands of participants; it is now delivered by more than 120 Vancity employee volunteers.

Details on the workshop schedule will be posted online through VPL.ca/events and promoted in branches over the next several weeks.

A host of new library materials to support ongoing learning in financial literacy - particularly in languages other than English - will be available for borrowing at VPL's main downtown location starting early next year.

About VPL

Vancouver Public Library is the third-largest public library system in Canada, serving nearly 375,000 cardholders across 22 locations and online at VPL.ca through ebooks, databases and other digital services. VPL is supported by the City of Vancouver, and the library recorded more than 6.5 million visits in 2011; patrons borrowed nearly 10 million items, including books, ebooks, CDs, DVDs and magazines.

VPL is dedicated to meeting the lifelong learning, reading, recreation and information needs of the residents of Vancouver.

About Vancity

At Vancity we make you good money by putting money to good. Our vision of redefining wealth incorporates personal and community well-being. We have distributed $221 million to members through dividends and to communities through grants and community investment initiatives since 1994. We are a member of the Global Alliance for Banking on Values - a network of the world's leading sustainable banks sharing the commitment to achieving triple-bottom-line impact through responsible banking practices. We are A Living Wage employer and Canada's largest community credit union, with $16.1 billion in assets, more than 479,500 members and 58 branches throughout Metro Vancouver, the Fraser Valley, Victoria and Squamish.

VPL is online at VPL.ca, Twitter (@VPL) and Facebook (VancouverPublicLibrary).

Vancity is online at vancity.com, Twitter (@vancity) and Facebook (Vancity).

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