Toronto, Ontario – January 7, 2021 – The Canadian Foundation for Economic Education (CFEE) is partnering with CIBC to challenge youth across Canada to create new tools and resources to help young Canadians improve their financial knowledge, skills and capabilities. Under the new program called My Money, My Future – www.mymoneymyfuturechallenge.ca – high school students aged 14-18, in all subject areas, will be applying their creativity, skills, and passion to develop new learning resources that will help teach important financial knowledge and skills to other youth. This innovative peer-to-peer learning program aims to promote and apply a sense of fun and creativity to an important life skill – financial literacy.
Students are being asked to draw upon their talents, skills, and passion to create something new, different, unique, and effective. Students differ in terms of what they like, what engages their interest, and how they learn. The program is designed to address all of these variations by encouraging students to produce all sorts of different tools and resources. Submissions can be a video, a song, a poem, a podcast, a booklet, an animation, a piece of art or any means by which youth think they could engage and help educate other youth about financial matters. CIBC Ambassadors will participate in the regional judging portion of the challenge and can offer support to teachers from coast to coast throughout the competition process.
Submissions can be in either English or French.
My Money, My Future is both a challenge and a contest. In the first round, teachers will submit the top project from their students (participating individually or in teams up to four) and up to three “Honourable Mentions” on the program website. In the second round, regional panels of judges will evaluate the best projects submitted by teachers from each region for participation in a National Showcase.
At the My Money, My Future National Showcase, regional winners will make a live virtual presentation providing background on their creation – origin of their idea, learning objective, why this is important for youth, what plans they have for their idea, etc. The virtual National Showcase will be open for viewing to all Canadians and will take place toward the end of May, 2021. Judging panels will include representation from education, government, business and youth leaders.
Prizes for the National Challenge are:
1st Prize: $10,000 towards future education or training – either to winning individual or shared equally among team members
2nd Prize: $5,000 towards future education or training – either to 2nd place individual or shared equally among team members
3rd Prize: $2,500 towards future education or training – either to 3rd place individual or shared equally among team members
The best creations of youth will be posted on a new VIRTUAL FINANCIAL LEARNING YOUTH CENTRE website for use by teachers, parents, and youth to learn about money, develop financial skills, and be better able to build a happy, healthy, financial future.
“The My Money, My Future” program is one of the most innovative programs we have ever undertaken,” said Gary Rabbior, President, Canadian Foundation for Economic Education. “It looks to engage all youth – from any subject area – and apply their creativity and initiative to help us improve financial literacy in Canada. We are extremely grateful to CIBC for their support – both financially and through the support that will be provided by their employees across the country. I can’t wait to see what the ingenuity of our youth will create!”
“We are pleased to partner with CFEE to help young Canadians improve their financial knowledge through this creative and innovative competition,” said Carissa Lucreziano, Vice President, Financial and Investment Advice at CIBC. “Our team members are passionate about making positive change in our communities, and we look forward to helping young Canadians in achieving their financial ambitions.”
CFEE is a federally chartered, non-profit, non-partisan organization, founded in 1974, that works to improve economic and financial literacy and enterprising capability. CFEE works collaboratively with ministries and departments of education along with school boards, schools, educators, and teacher associations. CFEE also engages in activities to support and assist newcomers and past immigrants to Canada, and the general public including print resources, videos, workshops, and online resources. Overall, CFEE aspires to help Canadians of all ages be better prepared to undertake their economic roles, responsibilities, and decisions with confidence and competence.
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.
For more information:
Joseph F. Clark
Canadian Foundation for Economic Education