With financial literacy month now officially over, this leaves a bit of a hole for those looking to learn more about their money. Sure there are some great resources out there, but wouldn’t it be great if financial services industry focused on financial empowerment year round?
Fortunately there are a few companies that have been evolving and starting to bring real change in how we view our finances. It goes well beyond education, or charity; it’s about getting people excited to learn about their money.
Pilot Program to Help Low-Income Families Announced
Last week Capital One and Prosper Canada announced that they have partnered to launch an innovative financial coaching project to help low-income Canadians. The project is a two-year pilot that is based off a similar program in the U.S. that had encouraging results. People involved with the project managed to reduce their debt, increase savings, and improve their credit scores which is obviously a step in the right direction.
Since this was just an announcement no formal details have been released about how to participate in the program, but I think it’s pretty encouraging to see that organizations and companies are going above and beyond to engage people with their money. Some readers may think that the companies will try to just push their product, but it really is about financial empowerment.
“We believe all Canadians should have access to high-quality, unbiased financial information, education, and counselling when they need it,” said Elizabeth Mulholland, Chief Executive Officer, Prosper Canada. “This project will support the development of financial coaching training, tools and resources tailored for Canadians with low incomes.”
“During Credit Education Week this year we learned a great deal about the challenges Canadians face and managing their money, and we know that these challenges and financial hurdles are even greater in low-income communities across Canada,” said Nathalie Clark, Vice-President, Capital One Canada. “Through our collaboration with Prosper Canada, we hope to develop innovative and impactful ways to reach underserved communities, providing them with making financial decisions.”
Tangerine celebrates #GivingTuesday
The holidays is about giving and Tangerine is kicking things off today with #GivingTuesday. Today on Twitter, Tangerine will make a $5 donation to their charitable partners for every post to @TangerineBank using #GivingTuesday that explains how you give back.
Charities that will benefit from the campaign include: nited Way Toronto and York Region, ACCES Employment, UNITY Charity, FoodShare, YMCA of Greater Toronto and Youth Without Shelter. The maximum fundraising goal is $10,000 so start tweeting now! I’d also love to know what you’re doing to give back so be sure to Tweet me too: @barrychoi
Tangerine is famous for coming up with creative campaigns so I look forward to what else they’ll be doing this holiday season.