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May 2016 | Issue No. 17
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A chance to make banking better
The 2016 federal Budget announced a forthcoming review of Canada’s banking legislation that will be an important opportunity to strengthen financial inclusion and protection for people with low incomes in Canada. Specifically, the federal government announced it will postpone the deadline for a mandatory 5-year review of Canada’s Bank Act until March 31, 2019 and give Finance Canada $4.2 million to consult with Canadians on potential changes to Canada’s banking and insurance legislation.
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What's New
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Funding opportunity to expand financial empowerment nationwide
We are currently accepting applications from not-for-profit and charitable organizations that are interested in becoming Financial Empowerment Champions. Please review the application materials and apply online by Thursday June 30, 2016. This project aims to expand proven financial empowerment interventions across the country over the next four and a half years. Read |
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Online financial literacy training course for youth in care launching this fall
Prosper Canada is partnering with the Children’s Aid Foundation (CAF) to adapt the Centre for Financial Literacy’s financial literacy facilitator training course for youth who have been in the care of Canada’s child welfare system. With support from Element Financial, the CAF is preparing to launch the Youth Online Financial Literacy Training course in Fall 2016.
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Payday loans feel pressure from regulators but where can you turn when you need cash?
In light of Google’s ban on payday lending advertisements and Alberta’s proposed Bill 15, An Act to End Predatory Lending, Prosper Canada’s director of programs Adam Fair spoke to Yahoo Finance Canada about payday lending. Fair explains how Canadians are using payday loans and why the structure has been under heavy examination over the past few years.
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| Learn about Financial Empowerment |
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Blog
Financial coaching is about more than just the money
Before Ava Williams signed up for the MPower Money Coaching program, she was struggling to pay off her OSAP and bank loans, finding it hard to stick to a budget and was worried about saving for the future. Read |
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Highlights from the Field
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More funding for our Financial Literacy for Newcomers project
Prosper Canada is committed to ensuring newcomers have the best chance of succeeding financially in Canada. Thanks to continued funding from Immigration, Refugees and Citizenship Canada, we’re increasing our impact over the next year through Phase 3 of the Financial Literacy for Newcomers project.
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Alberta Success Story: RESPs, Social Housing & Asset Limits
SmartSAVER recently shared a powerful story highlighting events leading up critical changes made to Alberta’s Housing Act. Triggered by a staff member at Momentum conducting a routine follow-up call with a participant, the advocacy efforts that followed ultimately resulted in the removal of RESPs and RDSPs from the social housing asset limit. This is a huge win for Alberta families seeking social housing.
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Funding opportunity to expand financial empowerment in Ontario
In early April, the Ontario government announced more than $5 million in funding to Prosper Canada for its Financial Empowerment Champions project for vulnerable Ontarians. This project will engage five Ontario financial empowerment champions to help expand financial empowerment solutions to improve the financial wellbeing of Ontarians living in poverty.
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Poll
Approximately how many Canadians make use of payday loans annually?
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Upcoming Events
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June 8, July 13, Aug 10, Sept 14, 2016 |
Listening & Learning Series: Financial Coaching & Counseling – Webinars
Join the Assets & Opportunity Network and Center for Financial Security for a new, four-part virtual Listening & Learning Series on Financial Coaching & Counseling.
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June 13-14, 2016 |
Free Financial Literacy Facilitator Training Workshop – Toronto
Do you work with Newcomers to Canada? Would you like to offer them financial literacy education? Please join us for a Financial Literacy Facilitator Training Workshop!
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June 15-17, 2016 |
Emerge: Consumer Financial Health Forum – New Orleans
CFSI and American Banker invite you to join more than 700 financial services leaders in New Orleans for the 11th annual EMERGE Forum – the nation’s premier event on Consumer Financial Health.
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September 12-October 28, 2016 |
Financial Literacy Facilitator Training course – Online
Our 7-week online curriculum is designed to prepare frontline workers to deliver an easy-to-use program to meet the needs of Canadians living on low incomes and other vulnerable groups.
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September 15-16, 2016 |
Free Financial Literacy Facilitator Training Workshop – Saskatoon
Do you work with Newcomers to Canada? Would you like to offer them financial literacy education? Please join us for a Financial Literacy Facilitator Training Workshop!
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September 28-30, 2016 |
Assets Learning Conference 2016 – Washington
The ALC offers sessions about savings for adults and children, entrepreneurship and self-employment, homeownership, strategies to close the racial wealth divide, the integration of financial capability services.
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Donate to Prosper Canada
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Contact Us
60 St. Clair Avenue East,
Suite 700,
Toronto, Ontario M4T 1N5
Tel: 416 665 2828
Toll free: 1 877 568 1571
info@prospercanada.org |
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