TORONTO, Nov. 27, 2013 /CNW/ - Today Social and Enterprise Development Innovations (SEDI) announced that the TD Financial Literacy Grant Fund has awarded $1.1 million in grants to 15 community organizations in support of financial literacy projects. The Fund supports organizations that deliver financial literacy programming to people living in low income and economically disadvantaged circumstances across the country.

The TD Financial Literacy Grant Fund, administered by SEDI, will support programs focused on financial education and support for women, people who are homeless, newcomers, at-risk youth, people in conflict with the law, and Aboriginal people in this round of contributions.

"Financial literacy programs for vulnerable groups serve an important function in translating financial information and advice and adapting it to respond more directly to a person's life circumstances," said Elizabeth Mulholland, Chief Executive Officer, SEDI. "With the right knowledge and skills, people living in low-income are able to make better financial decisions on their journey towards self sufficiency."

"Everyone regardless of their history and background should have the opportunity to better their lives financially and break the cycle of poverty. The TD Financial Literacy Grant Fund provides support for innovative financial education tailored to serve specific needs," said Scott Mullin, Vice President, Community Relations, TD Bank Group. "We are extremely proud to work with SEDI and to demonstrate our commitment to fostering financial education through many of our own TD employees who are leading these programs in their own communities."

"New Canadians face many challenges upon arrival to their new home," said Fitsum Getahun, Asset Building Program Coordinator, Immigrant and Refugee Community Organization of Manitoba (IRCOM) Inc. "Besides a high poverty rate, they also have limited access to culturally appropriate resources and supports. To better understand and navigate the Canadian financial system they need financial literacy classes that have been adapted to their context, and delivered in such a way that their low literacy rates and limited English are not a barrier. With the help of the TD Financial Literacy Grant Fund, IRCOM will join the many organizations and individuals working in our communities to help newcomers gain financial literacy and skills."

"Option consommateurs is delighted to be a TD Financial Literacy Grant Fund recipient once more," said Caroline Arel, Acting Executive Director of Option consommateurs. "With this support we'll be able to create a multimedia educational package for Inuit communities in Quebec that will enable members of these communities to make more informed financial decision."

To date, the TD Financial Literacy Grant Fund has awarded approximately $8 million to 105 community organizations across Canada. Grants are awarded for innovation, research and development, and strategic program development in the area of community-based financial literacy. A further $2.5 million will be allocated over the three remaining rounds of the Fund to financial literacy projects proposed by charitable and community organizations from across Canada.

The following is a full list of grant recipients:

1. Aboriginal Centre for Leadership and Innovation - Fort St. John, BC
2. Association coopérative d'économie familiale du Centre de Montréal - Montréal, QC
3. Boys and Girls Clubs of Canada - Toronto, ON
4. Community YWCA of Muskoka - Bracebridge, ON
5. Credit Counselling Service of Sault Ste. Marie and District - Sault Ste. Marie, ON
6. Girls Incorporated of Limestone, Algonquin and Lakeshore - Kingston, ON
7. Immigrant and Refugee Community Organization of Manitoba (IRCOM) Inc. - Winnipeg, MB
8. John Howard Society of Ottawa - Ottawa, ON
9. Neighbour to Neighbour Centre - Hamilton, ON
10. Prince George Aboriginal Business Development Association - Prince George, BC
11. The Elizabeth Fry Society, Toronto Branch - Toronto, ON
12. The Ottawa Young Men's and Young Women's Christian Association - Ottawa, ON
13. The Social Research and Demonstration Corporation - Ottawa, ON
14. The Union Mission for Men   - Ottawa, ON
15. United Way of Bruce Grey  - Owen Sound, ON

The deadline for the next round of applications will be January 30, 2014. For more information please visit: www.sedi.org/grantfund.

About SEDI
SEDI is a charitable non-profit organization dedicated to expanding 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 TD Bank Group