COAST CAPITAL SAVINGS INVESTS $90,000 IN JUNIOR ACHIEVEMENT’S DOLLARS WITH SENSE PROGRAM

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Coast Capital is also providing volunteer support through its staff, who will be sharing financial education with students in BC schools. The funding will ensure 100 classes receive the Dollars with Sense program in communities across British Columbia, including Coquitlam, New Westminster, Richmond, Surrey, Delta, Chilliwack, Greater Victoria, Saanich and Sooke.

“Through this partnership with Coast Capital Savings, 3,000 youth in BC will receive vital financial literacy education and the timing couldn’t be more appropriate since November is Financial Literacy Month,” said Jan Bell-Irving, President of JABC. “These students, our future leaders, will learn valuable money management skills such as budgeting, saving, investing and planning for their futures.” 

Bell-Irving said a recent Boston Consulting Group (BCG) study showed that former JA students save more, borrow less and do better financially than the average Canadian. As a result, they are more self-reliant, put a lower burden on the social safety net and provide better for their own retirement.

Wendy Lachance, Director, Community Leadership for Coast Capital Savings said the credit union’s mission is to provide simple financial help to British Columbians and that includes fostering financial literacy, especially among the youth.

“We know that sound financial knowledge leads to sound financial decisions and helping young people learn and practice key principles related to managing, saving, growing and protecting their money goes a long way in paving the way for future success,” Lachance said. “Our collaboration with Junior Achievement of British Columbia is a great fit because the Dollars with Sense program is an excellent vehicle for this type of education.”

Bell-Irving said Junior Achievement is thrilled to continue its strong partnership with Coast Capital Savings given that the credit union understands the importance of teaching financial literacy to youth.

“Coast Capital’s commitment this year to fund all Dollars with Sense programs across the province is a testament to the importance the organization places on providing youth with these critical life-long skills needed for success,” she said.

Other communities that will benefit from Coast Capital’s investment in the Dollars with Sense program include Kelowna, Clearwater, Kamloops, Prince Rupert, Terrace, Prince George and Salmo.

Coast Capital Savings has supported Junior Achievement of BC since 1999, with both volunteer and financial resources. To date, over 100 Coast Capital employees have volunteered for nearly 170 Junior Achievement programs in BC.

Financial illiteracy is a growing concern within, not only the next generation, but society as a whole.  Recently Canada’s task force on financial literacy presented their recommendations to government and expressed their sense of urgency around improving Canadian’s financial literacy. In fact, a public consultation report placed youth at the centre of the financial responsibility solution, stating early behavior and skill development are the greatest contributors to lifelong financial responsibility.

About the Dollars with Sense Program

Dollars with Sense is a fun and interactive, hands-on program that helps students develop financial literacy skills so they can make informed decisions today and set goals for their financial future. Through program content students learn about budgeting, money and credit management, saving and investing.

About Coast Capital Savings Credit Union

Coast Capital Savings Credit Union is one of Canada's largest credit unions with total assets under administration of $12.3 billion, more than 454,000 members and 50 branches in the Metro Vancouver, Fraser Valley, and Vancouver Island regions of British Columbia. Product innovations include Canada's first free chequing account from a full-service financial institution and the country’s most flexible mortgage product, the You’re the BossTM Mortgage, which was named 2010 Mortgage of the Year by canadianmortgagetrends.com. Coast Capital is a member of Canada's Best Managed Companies Platinum Club and an Imagine Canada Caring Company. To learn more, visit www.coastcapitalsavings.com.

PHOTO CREDIT:

Coast Capital Savings employees, Bic Dhami (Back Left) and Amanda Malenstyn and Andrea Acari (Right) present a cheque to grade eight JA Dollars with Sense students at Como Lake Middle School in Coquitlam.