Financial Literacy Project for Canadian Homebuyers Launched

CAAMP Foundation and Credit Canada join forces to promote mortgage industry knowledge

TORONTO, June 22 /CNW/ - A new gateway to financial literacy for Canadians has been opened thanks to a joint agreement between the CAAMP Foundation, the charitable arm of Canada's national mortgage industry association and Credit Canada, a prominent player in credit education. Financial literacy is an emerging issue in Canada and this joint agreement will empower the public to make wise financial choices by placing tools and resources at their disposal.

As leaders in mortgage education in Canada, both the CAAMP Foundation and Credit Canada are committed to helping consumers learn critical financial management skills. As household debt rises in Canada, it's clear that achieving financial stability is the first and most critical step towards homeownership.

"Our members firmly believe that financial literacy underpins a healthy economy, and certainly a stable mortgage market. We are pleased that our knowledge and expertise in mortgage finance can be utilized in this initiative," said Paul Grewal, AMP, CAAMP Foundation Chair.

"Financial literacy is key to personal financial success. We are pleased to be partnering with CAAMP on this initiative and appreciate their dedication to healthy money management and fiscal responsibility. There is no doubt that having the foundation of financial literacy will result in more successful homeownership." said Laurie Campbell, Executive Director, Credit Canada.

About Credit Canada

Credit Canada is a leading charitable non-for-profit organization that provides money management, credit management counselling and education services to Canadians. Credit Canada raises awareness of the importance of money management and credit management in the lives of Canadians. The organization provides professional, unbiased, confidential, comprehensive and consumer-oriented counselling services in personal debt management and reduction; alternatives to personal bankruptcy and credit re-establishment. www.creditcanada.com

About CAAMP

Established in 1994, the Canadian Association of Accredited Mortgage Professionals (CAAMP) is Canada's national mortgage industry association. CAAMP has attracted 12,000 members from across Canada, who represent over 90% of Canada's mortgage activity. CAAMP members make up the largest and most respected network of mortgage professionals in the country. CAAMP's membership base consists of mortgage lenders, brokers, insurers and other industry participants. www.caamp.org

About CAAMP Foundation

The charitable division of CAAMP, the CAAMP Foundation has a long and proud history of giving back to the mortgage community. It provides scholarships, education bursaries, research grants and financial assistance to students interested in the mortgage industry. With a sharply defined new focus, the CAAMP Foundation is now dedicated to devising fresh, innovative ways to help the Canadian mortgage consumer.

For further information: or to request an interview, please contact: Paul Grewal, CAAMP Foundation, 416-457-9495, [email protected]; Laurie Campbell, Credit Canada, 416-228-3328, 1-800-267-2272, [email protected]