MISSISSAUGA, ONTARIO (March 13, 2017) – Upon conducting an extensive needs assessment, students from the University of Toronto realized that by empowering marginalized and low-income women through a six-week financial literacy workshop, they could help them secure better jobs and ultimately, lead better lives.
After partnering with three unique organizations including, Youth Jobs Connection, a local food bank, The Inn of the Good Shepherd and Lambton College’s own International Student Department, students created and delivered a financial literacy program to over 320 unique participants. The Strength in Numbers program modules range from financial management, goal-setting, budgeting and expense tracking, credit and debt management and savings and investments.
Upon learning that 60 per cent of students leave high school without basic financial education, students from the University of Windsor created Youthrive, an intensive 10-week one-on-one consulting and financial literacy education program focused on accelerating young entrepreneurs.
As a result of these initiatives, Enactus University of Toronto – St George, Enactus Lambton College and Enactus University of Windsor have been named 2017 Capital One Financial Education Challenge Regional Champions by Canada’s largest experiential learning platform, Enactus Canada, and program supporter Capital One Canada.
Since 2016, Enactus University of Toronto – St. George’s Project Catapult has equipped 40 women with the confidence to budget and use banks with more than half of participants opening up their very first bank account.
As of March 2017, 324 people have been directly impacted by Enactus Lambton College’s Strength in Numbers program, with post-session participants exhibiting a $50 monthly reduction in debt and $25 monthly increase in savings.
Since 2016, Enactus University of Windsor’s Youthrive program has empowered 446 students, who are operating their own businesses.
“Through this challenge, we’ve seen first-hand how Enactus student-entrepreneurs are helping to turn Canadians’ goals and dreams into reality by sharing skills, knowledge, and most importantly the tools they need to make smart financial decisions,” said Andrea Cotroneo, Vice President, Capital One Canada. “At Capital One, we are fiercely committed to helping Canadians succeed by opening up possibilities to understand how to manage their money.”
The Capital One Financial Education Challenge is a national competition empowering post-secondary students to develop and deliver projects that teach relevant financial skills. Since 2012, this challenge has engaged 6,316 students across the country, resulting in 620 financial education outreach projects, and directly impacting the financial futures of 69,826 people.
Student teams demonstrated the impact of their financial education projects to panels of business executives on March 10 in Mississauga as part of the Enactus Canada Regional Exposition – Central Canada.
“Financial literacy is an issue affecting many Canadians,” said Nicole Almond, President of Enactus Canada. “Through this challenge, Enactus students provide people in need with the knowledge, skills and confidence to make responsible financial decisions.”
Enactus University of Toronto – St. George, Enactus Lambton College and Enactus University of Windsor will now move on to the national level of competition taking place May 9-11 at the 2017 Enactus Canada National Exposition in Vancouver.
ABOUT ENACTUS CANADA: Enactus Canada, the country’s largest post-secondary experiential learning platform, is shaping entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Guided by academic advisors and business experts, more than 2,734 entrepreneurial post-secondary students led 280 community empowerment projects and business ventures last year in communities coast to coast. As a global network of 36 countries, Enactus uses the power of entrepreneurial action to transform lives and shape a better, more sustainable world. For more information, visit enactus.ca.
ABOUT CAPITAL ONE: With offices in Toronto, Kitchener-Waterloo and Montreal, Capital One Canada has been offering Canadian consumers a range of competitive Mastercard credit cards since 1996. We challenge ourselves to see the world through the eyes of our customers, so we can deliver the market-leading credit products and exceptional service they’re looking for. Capital One Canada is a division of Capital One Bank, a subsidiary of Capital One Financial Corporation of McLean, Virginia (NYSE: COF). Capital One is committed to investing in youth in our communities through program investment and the skills and dedication of our talented associates. To learn more visit: www.capitalone.ca/enactus
Media Inquiries:
Jennifer Falzon
Director, Marketing & Strategic Growth, Enactus Canada
jen@enactus.ca | 416.304.1566 x222 | 416.315.2099