JA British Columbia and Coast Capital Savings mark Financial Literacy Month with renewed Partnership
Photo: Coast Capital Savings presents a cheque to JA British Columbia on November 21 at Coast Capital Savings’ newest branch in Kelowna, BC.
Coast Capital’s $735,000 investment brings financial literacy training to 30,000 British Columbian youth
JA British Columbia (JABC) continues to expand its financial literacy program Dollars with Sense thanks to a significant donation from Coast Capital Savings. This donation renews the organizations’ previous three year partnership, announced in 2014 and takes Coast Capital’s total contribution to the program to over $1 million.
Over the past six years, Coast Capital’s investments have helped grow JABC’s financial literacy training to reach 37,000 youth province-wide. JABC has gone from being in 47 classrooms in 2010 to 350 annually and that number continues to grow. Coast Capital’s latest three-year commitment will ensure that JABC is able to bring Dollars with Sense to even more students, increasing JABC’s total to over 67,000 youth impacted.
Canadian youth are growing up in a time when spending is easier than ever, and debt is a way of life. This problem is exacerbated by hectic family schedules, which leave parents little time to teach their children about money management. Dollars with Sense addresses a need identified in several Canadian studies finding that many young people have weak financial skills and little knowledge of the financial realities they will face in the future. A benchmark study completed in 2011, by the BC Securities Commission reported that nearly 4‐in‐10 (38%) young people admit they do not know how much they earned and spent in the last month, and less than half (44%) keep a budget to record income and expenses.
With a newly updated version of Dollars with Sense, students in grades 7 to 9 learn about the tools they need to make smart financial decisions, live debt-free, and become savvy investors. Students learn personal money management skills that they can apply to their lives.
“Coast Capital promises to help build a richer future for youth in your communities,” explains Wendy Lachance, Director, Community Leadership at Coast Capital Savings. “One area that we specifically focus on is financial well-being, which makes this renewed partnership such a wonderful alignment. We know that young people are entering the work force unprepared and unequipped in the area of financial management. This program is moving the needle on empowering youth to set themselves up for the future and ultimately, their long-term success. We are thrilled to again be partnering with JABC and watch this program grow and make a real difference in the lives of the young people who take part.”
“JABC is thrilled to continue our partnership with Coast Capital to bring financial literacy education to even more students across BC,” says Jan Bell-Irving, President & CEO, JABC. “By supporting JA’s financial literacy programs for over a decade with their significant investments and invaluable volunteer hours from their staff, Coast Capital has helped thousands of BC youth boost their financial literacy skills and better prepare them for long-term success.”
As part of on-going efforts to raise the financial acumen of BC youth, Dollars with Sense is offered in 56 BC school districts and community centres around the province and delivered by volunteers who bring their real life experience into the classroom. In recognition of financial literacy month and CCS’ latest investment, on November 21, 2016 a special event was held at CCS’ newest Kelowna branch slated to open in January 2017. CCS employee volunteers, local students and VIPs joined for an afternoon of presentations and celebration.
To learn more about Dollars with Sense, visit www.jabc.ca/dws.
About Coast Capital
Coast Capital Savings is Canada’s largest credit union by membership. A recipient of the 2015 “Outstanding Corporation” Giving Hearts Award, the credit union invested $5 million into local communities in 2015, focusing on empowering and engaging youth. Coast Capital is one of Canada’s 10 Most Admired Corporate Cultures™, a member of Canada’s Best Managed Companies Platinum Club, and an Imagine Canada Caring Company. It has 52 branches serving its 532,000 members in the Metro Vancouver, Fraser Valley, Vancouver Island and Okanagan regions of British Columbia. Product innovations include Canada’s first free chequing account from a full-service financial institution. To learn more, visit coastcapitalsavings.com.
About JA British Columbia
JA British Columbia (JABC) is a member of JA Canada and part of JA Worldwide (JA), the world’s largest not-for-profit organization dedicated to educating young people about business. Since 1955, British Columbia schools have relied on JA to inspire and prepare youth to succeed in an ever-changing global economy. In 2016, over 38,000 BC students benefited from JABC programs delivered free of charge by volunteers from local business communities, who bring their real-life experience into the classroom. JABC programs focus on work readiness, financial literacy and entrepreneurship, giving students the confidence and skills they need to become the next generation of business and community leaders.
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Teens get a mini lesson on needs vs. wants as part of the JA Dollars with Sense program at the November 21st celebration event at Coast Capital Savings’ newest branch in Kelowna, BC.