The CCFL’s mission is to help build and develop financial literacy among low-income Canadians.
The CCFL seeks to improve the financial knowledge and skills of over 230,000 people by 2013 in urban and remote areas across Canada, and will do so in partnership with local front-line organizations. To date, it is estimated that over 4.7 million people live on low income in Canada. There is no shortage of work for the CCFL to do.
To achieve its goal, the CCFL will focus on three areas in its first phase:
Training and capacity building for front-line agents across Canada so that they might deliver financial literacy services tailored to the groups they serve.
Information sharing on the latest innovations and research in the field. The CCFL will also act as a central point for community organizations to connect, collaborate and continue to improve the financial literacy tools they bring to clients.
Consulting for governments, nonprofits and companies interested in investing in break-through initiatives related to financial education.
The Financial Literacy for Newcomers Project, funded by Citizenship and Immigration Canada, helps newcomers increase their knowledge of the Canadian financial system. The three community organizations participating in the pilot are being trained to bring financial education programs to over 1,500 newcomers in Halifax, Toronto and Vancouver.
NewStart is an Ontario-wide program funded by the Ministry of Economic Development and Trade that introduces financial literacy and entrepreneurship to youth new to Canada. Through the program, over 750 youth are learning the basics of saving and budgeting and how to identify business opportunities and analyze business ideas.
Members of the Northwest Band Social Workers Association participated in a CCFL workshop in March 2009 in Terrace, BC. The two-day session aimed to increase the capacity of organizations in nine reserves to provide the basics of personal finance to the groups they serve.