SEDI has been at the forefront of national financial literacy initiatives in Canada for over a decade. We believe financial education presents a sustainable solution for individuals struggling to break the cycle of poverty.

In March 2008, SEDI announced the Canadian Centre for Financial Literacy, a first of its kind in the country. The Centre seeks to partner with businesses, governments and communities across Canada to achieve its goal of increasing the financial literacy of over 230,000 lower-income Canadians by 2013. According to Statistics Canada, more than 4.7 million Canadians live on a low income.

In September 2008, SEDI co-hosted Reaching Higher: Canadian Conference on Financial Literacy, with the Financial Consumer Agency of Canada and the Joint Forum of Financial Market Regulators. At the international conference, which took place in Montreal , SEDI called upon the federal government to establish an independent, multi-sector task force to develop a national strategy on financial literacy.

The recommendation was included in the 2009 Canadian federal budget, which features a $5-million plan for the task force and the national strategy. The task force is expected to be launched in the spring of 2009.

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To support the Canadian Centre for Financial Literacy and to receive updates on its activities, please contact:

- Casey Cosgrove, Director of Financial Literacy Initiatives, SEDI, at 416-665-2828, ext. 230, ccosgrove@theccfl.ca

- Caroline Munshaw, Partnership Development, SEDI, at 416-665-2828, ext. 225, cmunshaw@theccfl.ca