Building Financial Empowerment and Trust: An Impact Update

Prosper Canada’s initiative to support financial empowerment in First Nation communities, since its inception, has been a testament to the power of community partnerships and tailored financial empowerment services. The first phase of the project (2021-2023) laid the initial groundwork for meaningful engagement, fostering trust with participating communities, and achieving significant impact – supporting 5165 participants in financial empowerment services and generating $8.15 million in estimated new income through tax filing. Building on this success and continued partnerships with Community Financial Counselling Services (CFCS), SEED Winnipeg (SEED), and Sudbury Community Service Centre (SCSC), the program entered its second phase in 2023, aiming to deepen relationships, broaden its reach, and introduce innovative solutions, including a new remote helpline in Manitoba, to meet the evolving needs of First Nation communities.

With renewed funding from IG Wealth Management in 2023, the program expanded its reach and activities, incorporating a pilot financial helpline and satisfaction measurement initiatives. In just the first year the program has already made remarkable progress:

• 3,518 community members received financial empowerment services.
• $12.3 million in estimated new income was secured through tax clinics and benefits applications.
• Service delivery extended to an additional 23 new First Nation communities across Ontario and Manitoba.

These early achievements underscore the growing momentum of the initiative, as trust and awareness continue to build in First Nation communities. The program’s tailored, culturally sensitive approach has ensured that financial empowerment services resonate with participants, creating lasting impacts on individuals and families. This trust has catalyzed unprecedented demand for in-person tax clinics and help getting government issued identification clinics, as well as invitations from additional communities eager to participate.

Impact Story: Changing Lives, One Step at a Time

Ontario: A Teacher’s Unexpected Windfall

At a tax clinic in Whitefish River run by SCSC, a retired teacher discovered she had been overpaying taxes on her pension for eight years due to overlooked non-taxable income rules for on-reserve earnings. With the team’s help, she secured a substantial refund, transforming her financial outlook and showcasing the power of accurate, accessible tax services. The amount she received was enough to pay off a small loan and cover her bills, allowing her to stop teaching part-time and transition into full retirement with more financial stability.

Overcoming Barriers and Growing Momentum

The journey has not been without its challenges. From navigating remote travel and harsh weather to addressing staff turnover, the project has required resilience and adaptability. Transportation barriers persist, limiting access for many community members, while the complexity of cases often demands additional resources and time. Despite these challenges, the program continues to innovate by adjusting operations, pausing ID clinics to focus on money management training, and redesigning the helpline pilot to more precisely address community needs.

Relationship-building remains at the heart of this work, with trust serving as the foundation for sustained impact.

Despite these hurdles, the program has exceeded expectations in several areas:

• Estimated new income secured: 185% of target.
• New ID applications processed: 209% of target.

As the initiative continues, the commitment to community-driven solutions and partnerships ensures that its impact will only grow. By empowering individuals and fostering financial stability, this program is helping shape a more equitable future for First Nation communities. 

Highlighting our joint commitment to Truth and Reconciliation

This initiative is a cornerstone of Prosper Canada’s Truth and Reconciliation Commitment and aligns with IG Wealth Management’s IG Empower Your Tomorrow Indigenous Commitment. With this generous investment, the program supports the financial confidence of Indigenous communities, focusing on culturally relevant, community-led approaches. Together, these efforts reflect our shared dedication to building financial wellness and advancing reconciliation by fostering trust, understanding, and long-term partnerships with Indigenous Peoples across Canada.