Fund to help community organizations deliver financial literacy programming across Canada

TORONTO, Dec. 14 /CNW/ - Social and Enterprise Development Innovations (SEDI) today announced the first 19 community organizations to receive funding from the new TD Financial Literacy Grant Fund to help deliver financial literacy programming in their communities. The successful organizations will receive a total of $1.7 million through the Fund, which was co-founded by SEDI and TD Bank Group to accelerate the pace at which SEDI can bring financial literacy skills to low-income and economically disadvantaged individuals across Canada.

"The Fund received 271 applications from community groups across Canada, reflecting a tremendous interest in financial literacy program support," said Peter Nares, Founder and Executive Director, SEDI. "SEDI is proud to support much-needed financial literacy programs through the Fund. We will share research, best practices and lessons learned from the Fund's grantees with community financial literacy practitioners and policy-makers to help increase Canadians' financial knowledge and skills."

Administered by SEDI, the fund provides grants ranging from $25,000 to $100,000 to charitable and non-profit organizations to integrate financial literacy programming into services delivered to economically disadvantaged persons and groups in Canada. Grants are awarded based on the innovation, research & development, and strategic program development demonstrated in proposals.

"We are proud to work with SEDI on financial literacy initiatives to help people and communities in need build a more secure and comfortable future," said Tim Hockey, CEO and President, TD Canada Trust.  "We are also excited by the potential of innovative community programs to support people to get the knowledge and confidence they are seeking to manage their everyday finances."

The Canadian Foundation for Economic Education (CFEE) was selected for a workplace learning strategy that simultaneously improves financial literacy and basic literacy and numeracy skills. "The recession raised interest in financial literacy, but basic literacy and numeracy levels remain a challenge," said Gary Rabbior, President, CFEE. "Our program addresses financial topics like retirement planning and mortgage management, attracting people who might not normally participate in literacy and numeracy training, but will choose financial literacy programs that build all three valuable skills at once."

The successful grantees are: 

1. Momentum Community Economic Development Society, Calgary
2. Adsum Association for Women and Children, Halifax
3. KW Counselling , Kitchener
4. Womanspace Resource Centre Society, Lethbridge
5. Option Consommateurs, Montréal
6. Community Sector Council, St. John's
7. Jewish Vocational Service of Metro Toronto
8. Centre for Equality Rights in Accommodation, Toronto
9. WoodGreen Community Services, Toronto
10. North York Community House, Toronto
11. Canadian Foundation for Economic Education, Toronto
12. St. Christopher House, Toronto
13. Elizabeth Fry Society, Toronto
14. CAMH, Toronto
15. PHS Community Services Society, Vancouver
16. BC Centre for Elder Advocacy and Support, Vancouver
17. BWSS Battered Women's Support Services Association, Vancouver
18. Cariboo-Chilcotin Partners for Literacy Society, Williams Lake, BC
19. Community Financial Counseling Services, Winnipeg

The Fund will also enable PHS Community Services Society to expand financial literacy services, such as financial planning, in Vancouver's Downtown Eastside. "Our goal is to bring dignity and respect to people who have experienced financial exclusion, often as a result of extreme poverty or trauma, and provide a sense of social membership and inclusion," said Liz Evans, Executive Director and Founder, PHS Community Services Society. "I would like to express my sincerest gratitude to both SEDI and TD for helping us achieve our goals."

The Fund is now accepting applications for its second round of grants. Applications should be submitted by January 31^st, 2011. Charitable and nonprofit organizations interested in applying for grants are encouraged to review the Fund's guidelines and application form available at www.sedi.org/grantfund.

About SEDI
SEDI is a national charitable organization that uses innovative approaches to help low-income Canadians gain financial independence. Since 1986, SEDI has worked with businesses, governments and more than 1,000 community groups on financial literacy, savings and entrepreneurship initiatives. SEDI's expertise allows it to influence public policy, opening the way for low-income Canadians to enter the social and economic mainstream. For more information, visit www.sedi.org.

TD Community Giving
TD invests in communities to make a positive impact where it does business and where our customers, clients and employees live and work. In 2010, TD donated over $50 million to support community organizations in Canada, the United States and the United Kingdom. In Canada, we focus on Education and Financial Literacy, Creating Opportunities for Young People, and the Environment. For more information, visit www.td.com/corporateresponsibility.