CPA Canada promotes the value of workplace financial literacy programs

The workplace offers excellent potential to help Canadians become better money managers, according to Chartered Professional Accountants of Canada (CPA Canada).

TORONTO, November 19, 2015 – The workplace offers excellent potential to help Canadians become better money managers, according to Chartered Professional Accountants of Canada (CPA Canada).

“The country’s workplaces can serve as vital conduits of information,” explains Cairine Wilson, vice-president, corporate citizenship, with CPA Canada. “Tapping into workplaces allows a vast and varied audience to be reached.”

Capitalizing on that potential, the accounting organization has developed a financial education program specifically for the workplace. It is one component of an extensive grassroots effort involving 11,000 CPA Canada members who are giving back to their communities. Professional accountants across the country are trained and ready to give financial literacy seminars tailored to meet the needs of a variety of audiences. These sessions are held at various venues including workplaces, libraries and community centres.

Great-West Life is the national sponsor of CPA Canada’s financial literacy outreach initiative. Later today, the company will be hosting a workplace session at its head office in Winnipeg, Manitoba, to profile the CPA Canada program as part of Financial Literacy Month.

“We became the national sponsor of CPA Canada’s outreach program to help meet the financial literacy needs of community organizations, new Canadians, Aboriginal Peoples, post-secondary students, and individuals of all ages,” notes Jan Belanger, vice-president, community relations, Great-West Life. “Our commitment to the program extends beyond the sponsorship with professional accountants in our organization also volunteering their time and expertise. We are playing an active role in helping CPA Canada deliver and further develop its community support initiative.”

Offering a financial education program in the workplace is a win-win situation for both employees and the employer. For employees, it can help them feel more in control of their finances, reduce anxiety and lower stress. Employers benefit by having a more engaged and productive workforce and lower benefit costs.

Jane Rooney, Canada’s financial literacy leader, will speak to the Great-West Life employees just prior to the education session. Her role is to help coordinate and encourage collaboration among public and private sector and non-profit organizations to engage Canadians in financial literacy activities.

“I congratulate Great-West Life and CPA Canada for their leadership in the area of workplace financial literacy which provides an opportunity for employees to strengthen their financial well-being,” says Rooney. “We know that to be effective, financial literacy efforts need to meet people where they are and that’s why workplace financial literacy efforts, like this one here today, are so critical.”

CPA Canada’s Wilson adds: “Employers offering workplace programs strengthen the collective effort to improve the financial literacy of Canadians. We applaud Great-West Life for its vision and its commitment to help Canadians today prepare for a better tomorrow.”

To learn more about CPA Canada’s financial literacy program, visit: cpacanada.ca/financialliteracy