Financial Empowerment and Problem Solving (FEPS) Program (2015-2017)
Created by West Neighbourhood House, the FEPS Program provides free, confidential, one-on-one support to Ontarians with low incomes to help them build their financial health. Prosper Canada helped strengthen delivery of the FEPS program by three Toronto sites, West Neighbourhood House, Jane/Finch Centre, and Agincourt Community Services Association. It has also supported FEPS expansion to two new sites, EBO Financial Education Centre* in Ottawa and The Working Centre in Kitchener-Waterloo.
*EBO is now part of the Ontario Financial Empowerment Champions project.
Funded by: Ontario Ministry of Community and Social Services
Financial Literacy for Newcomers (2009-2017)
Conducted in three phases, this project aimed to improve the quality of financial literacy supports for low-income newcomers during their initial settlement period. Prosper Canada delivered financial literacy training to 288 staff at settlement agencies, and supported the delivery and evaluation of financial literacy courses to 1,375 newcomers.
Funded by: Immigration, Refugees and Citizenship Canada.
Strengthening evaluation of financial literacy programs in Canada (2015-2017)
Prosper Canada, the Canadian Bankers Association (CBA) and the Financial Consumer Agency of Canada (FCAC) collaborated to create the Financial Literacy Outcome Evaluation Tool. This tool allows public, private and community-based groups engaged in financial education to design their own tailor-made evaluation plans.
Funded by: Canadian Bankers Association (CBA)
Partner: Financial Consumer Agency of Canada (FCAC)
Benefits Screening Tool Phase 1 (2015 – 2016)
Prosper Canada, St. Michael’s Hospital Academic Family Health Clinic, Flemingdon Health Centre, and Inner City Family Health Team partnered to develop, implement and evaluate an online benefits screening and intervention tool to allow health practitioners to help boost a patient’s income by screening for their eligibility for government benefits.
Funded by: Maytree, the Canadian Institutes of Health Research, Research Manitoba, Bridgepoint Healthcare, and St. Michael's Hospital Foundation.
Youth Online Financial Literacy Training Course (2016)
Children’s Aid Foundation provided funding to Prosper Canada to adapt the online financial literacy facilitator training course into an online course for youth transitioning out of care. The course helped youth complete their educational goals, become financially empowered, and build skills and experience in employment preparation and entrepreneurship.
Funded by: The Children's Aid Foundation, with support from the Element Financial Youth Capital Program
Partners: Seneca College’s Centre for Flexible Learning (cFLEX), Ontario Council for Agencies Serving Immigrants (OCASI), Pape Adolescent Resource Centre (PARC)
The MPower Money Coaching Program (2015-2016)
The MPower Money Coaching Program is a pilot project developed by Prosper Canada and delivered through three City of Toronto employment centres. The program helped participating individuals who are on social assistance and/or seeking employment to identify, plan for, and achieve personal financial goals supported by volunteer professional financial planners trained to provide financial coaching to people with low-incomes.
Funded by a consortium of companies including: AGF, Bridgehouse Asset Managers, Dynamic Funds, Franklin Templeton Investments, IA Clarington Investments Inc., The Investment Funds Institute of Canada, PwC Management Services LP, Primerica, Sun Life Global Investments, and Zavitz Insurance. Volunteers from the financial planning community are being recruited with the assistance of three professional associations – Advocis, the Financial Planning Standards Council, and Independent Financial Brokers of Canada.
TD Financial Literacy Grant Fund (2010-2015)
Co-founded with Prosper Canada in 2010, the TD Financial Literacy Grant Fund awarded $10.4 million in grants to 139 community organizations across Canada for community financial literacy education. Grants were awarded for innovation, research and development, and strategic program development in the area of community-based financial literacy.
Funded by: TD Bank Group
TD Financial Literacy Seminars (2014)
This project introduced new Canadians to the Canadian banking and credit systems through financial literacy seminars delivered by TD volunteers.
Funded by: TD Bank Group
Independent Living Account (2006-2014)
The ILA program helped people develop financial knowledge and skills, and gave them access to the mainstream financial institutions they needed to live independently. Over 500 shelter residents participated in the program. Collectively, they saved over $160,000 from the time the initial pilot program began, leveraging a further $360,000 in matching funds to support their move to self-sufficiency. Two hundred and thirty-six shelter residents were able to successfully move to permanent housing.
Funded by: The City of Toronto and TD Bank Group
Registered Education Savings Plans (2014)
Prosper Canada worked with the Bridgeable Designership Program and Peel Children and Youth Initiatives to research and design solutions that help low-income families access and take advantage of RESP support programs, specifically the Canada Learning Bond. After in-depth research and a co-creation workshop that brought together a variety of stakeholders, two web-based prototypes were selected and validated with a range of stakeholders.
Partners: Bridgeable Designership Program and Peel Children and Youth Initiatives
Newcomers and Aboriginal Communities Project (2009-2012)
This project aimed to build the capacity of facilitators serving newcomers to deliver effective targeted financial literacy education. As a result, 1,500 people received financial literacy education and supports in 10 communities across Canada.
Funded by: Royal Bank of Canada Foundation
Saving To Achieve Real Transformation (START)
The START program helped 95 Ontarians living on a low income open bank accounts, receive financial literacy education, and receive case management support. Participants also had a savings incentive of $3 for every $1 they save (up to a savings level of $800 and matching incentive of $2,400). Participants collectively saved over $20,000, which was matched by an additional $60,000 to support their savings goals.
Partners: Ontario Housing Services Corporation, Causeway Work Centre, Yes! Employment Services, and Youth and Family Resource Network.