Empowering Financial Progress for Newcomers: BMO and Credit Canada Partner to Drive Financial Literacy and Success

TORONTO, Feb. 5, 2025 /CNW/ - BMO and Credit Canada are deepening their commitment to supporting newcomers by expanding access to financial education resources tailored to their unique needs as they settle into life in Canada. Building on the success of November's launch of Budgeting for Newcomers: Your Path to a Secure Financial Future, this expansion of services will further help newcomers make real financial progress.

During Financial Literacy Month, Credit Canada's programming, in partnership with BMO, provided newcomers with free, comprehensive, multilingual resources, including webinars, interactive learning modules, and personalized budgeting tools, helping more newcomers build their financial literacy and confidence to pursue their financial goals in Canada.

"Improving financial literacy is a critical skill to developing financial confidence and resilience when facing new opportunities and challenges that arise while building a life in a new country," said Sumit Sarkar, Head, Customer Growth & Segments, BMO. "In addition to delivering convenient and personalized banking tools and resources including the BMO NewStart® program, BMO's partnership with Credit Canada is another testament to our commitment to empower newcomers to achieve their goals and make real financial progress wherever they are."

Through BMO's continued support during the upcoming year, Credit Canada will expand its reach and deepen its impact by adding resources that align with newcomers' evolving needs. This will include new blogs, podcast episodes, and social media content, ensuring newcomers can access a wide range of relevant, up-to-date financial education.

Moreover, as the bank of choice for newcomers, BMO SmartProgress offers newcomers free, online financial literacy courses designed to facilitate financial well-being and understanding.

"Moving to a new country is exciting but can be financially daunting—there's so much to figure out. Our partnership with BMO is all about giving newcomers the confidence to take charge of their finances right from the start," said Bruce Sellery, CEO of Credit Canada. "By making financial education accessible and practical, we're helping newcomers make smart money choices that set them up for a secure future in Canada."

Credit Canada's innovative approach seamlessly combines accessible technology, such as the Butterfly app, with expert-led webinars and online modules, creating an inclusive ecosystem that meets newcomers where they are. With resources covering everything from budgeting basics to credit-building tips, the program ensures that newcomers, regardless of their background, can find the information they need to make sound financial decisions.

For more information about Credit Canada's financial literacy resources for newcomers, visit www.creditcanada.com/newcomers.

To book an interview with Bruce Sellery, contact Tanvi Chitnis at [email protected] or [phone].

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. 

About Credit Canada

Credit Canada is Canada's first and longest-standing non-profit credit counselling agency. For more than 50 years, Credit Canada has been helping Canadians get out of debt and back into life through financial education and debt resolution. As a national, non-profit organization, Credit Canada has helped thousands become debt-free and achieve financial wellness.

Press kit includes speaker bios and program images.

Website: www.creditcanada.com
Facebook: @creditcanada
Instagram: @creditcanada
X (Twitter): @creditcanada

SOURCE Credit Canada Debt Solutions

Tanvi Chitnis, Credit Canada, [email protected], [phone]; Anke Suwanda, BMO Financial Group, [email protected]