Immigrant Women’s Centre Awarded New Funding

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June 11, 2012 – Social and Enterprise Development Innovations (SEDI) has announced that 15 community organizations have been awarded a total of $999,267 from the TD Financial Literacy Grant Fund to support financial literacy projects. The Fund supports organizations that deliver financial literacy programming to low income and economically disadvantaged people across the country. There were 136 applicants for the grant.

A total amount of $31,960 has been awarded to Hamilton’s Immigrant Women’s Centre, to fund their Financial Literacy Program for Women in Hamilton for a 12-month contract.

In May 2009, the IWC launched the Financial Literacy workshop, which was the first of its kind in Hamilton. The program ran for three years under a grant from the Status of Women Canada. The Financial Literacy program aims to enable women, both newcomer and Canadian-born, to control their financial futures and covers subjects including: basic banking, budgeting, saving, borrowing, and fraud protection. Its continuation was dependent on receiving an additional grant.

Ines Rios, Executive Director of the IWC noted: “Because we encourage women to participate socially, economically and politically in this new country; economically, is what will make the families more established, and become the citizens that they want to be. Financial Literacy is an extremely important life skill in the life of new Canadians and for people in so many levels of society, whether you are rich or poor. Knowing how to manage your finances is one of the best skills you can have.”

She continues, “There have been hundreds of women going through the program already since almost two years of its implementation. The lives of women have been changed, their confidence has risen, and they feel they are making better decisions. We see them not only acquiring jobs, but knowing how to manage the fruit of their work.”

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