TD Financial Literacy Grant Fund awards over $800,000 in grants to 12 organizations

TORONTO, Jan. 7, 2013 /CNW/ - Social and Enterprise Development Innovations (SEDI) today announced that the TD Financial Literacy Grant Fund has awarded $837,321 in grants to 12 community organizations engaged in financial literacy projects across Canada.

Administered by SEDI, the Fund provides grants to charitable and non-profit organizations that support and promote financial literacy for low income and economically disadvantaged people in Canada.  The Fund's fifth round of contributions will support programs that help provide financial literacy education to vulnerable Canadians, including adults with low literacy, newcomers, Aboriginal people, women affected by abuse and poverty, and at-risk youth.

"Financial literacy is a basic need for every Canadian," explained SEDI CEO Elizabeth Mulholland, "but low-income and vulnerable Canadians face real challenges when it comes to getting accurate financial information and advice that meets their needs. Community financial literacy programs play a critical role in translating basic financial information and advice and adapting it to respond more directly to the life context and needs of vulnerable Canadians."

"At TD, we recognize the importance of innovative financial education to helping Canadians break the cycle of poverty," said John Tracy, Senior Vice President, TD Bank Group. "We are proud to have created the TD Financial Literacy Grant Fund, which is making a real difference in the lives of thousands of people all across Canada. We are even prouder that over 1,000 TD employees volunteer their time every year to improve financial literacy in their communities."

Since the Fund's inception in 2010, it has awarded approximately $5 million to 67 community organizations across Canada. Grants are awarded for innovation, research and development, and strategic program development of community-based financial literacy initiatives. A further $5 million will be allocated over the five remaining rounds of the Fund, to financial literacy projects proposed by charitable and community organizations from across Canada.

"The Aboriginal Financial Officers Association of Canada is pleased to be working with TD and SEDI on this initiative," said Terry Goodtrack, President and CEO of AFOA Canada. "Improving the financial literacy and acumen of Aboriginal Peoples is like putting in place an essential building block in the foundation of our Aboriginal communities. It is important that we understand that many of the day-to-day choices we make have a financial impact on us. Whether a person is learning about financial literacy for the first time or is involved in deciding upon major resource opportunities for their community, improved financial skills lead to improved decision-making."

"Eighty per cent of the clients at READ Saskatoon are employed with most earning a low income," said Sheryl Harrow, Executive Director, READ Saskatoon.  "The TD Financial Literacy Grant will ensure our community has increased access to mainstream financial education opportunities.  It will also help us to position financial literacy as an essential skill, alongside reading, writing, and numeracy, allowing for systemic change within families and more broadly within our community."

The following is a full list of grant recipients:

1. READ Saskatoon, Saskatoon, SK
2. The Further Education Society of Alberta, Calgary, AB
3. Women's Centre of York Region, Newmarket, ON
4. Aboriginal Financial Officers Association of Canada, Ottawa, ON
5. Centre for Entrepreneurship Education & Development, Halifax, NS
6. Action Jeunesse St-Pie X de Longueuil Inc, Longueuil, QC
7. Access Alliance Multicultural Health and Community Services, Toronto, ON
8. Stella Burry Community Services, St. John's, NL
9. Women's Enterprise Skills Training of Windsor, Windsor, ON
10. Actions interculturelles de développement et d'éducation (AIDE), Sherbrooke, QC
11. Central Valley Adult Learning Association, Oromocto, NB
12. Youth Employment Services YES, Toronto, ON

The deadline for the next round of applications will be January 31, 2013. For more information please visit: www.sedi.org/grantfund.

About SEDI
SEDI is a charitable non-profit organization whose mission is to expand economic opportunity for Canadians living in poverty through program and policy innovation. To learn more about SEDI's latest initiatives, the Canadian Centre for Financial Literacy and the TD Financial Literacy Grant Fund, please visit www.theccfl.ca and www.sedi.org/grantfund.

TD Community Giving
TD Bank Group invests in communities in order to effect positive change in the places where it operates and where its clients and employees live and work. In 2012, TD donated over $65 million to support community organizations in Canada, the United States and the United Kingdom. In Canada, TD focuses on education and financial literacy, creating opportunities for young people and the environment. For further information, please visit www.td.com/corporate-responsibility.

SOURCE: Social and Enterprise Development Innovations (SEDI)

Media contact: 
Julie McFayden
SEDI
416-665-2828, ext. 231
[email protected]

Media contact: 
Megan Hooper
TD Bank Group
416-982-4725
[email protected]