Video from CNW Group

CANADA, PRESS RELEASE

January 11, 2011

Financial literacy contest offers big returns

FCAC to award SMART BoardTM and laptops to winners

Ottawa, January 11, 2011 ― Following the success of the contest held during the first school term, the Financial Consumer Agency of Canada (FCAC) has decided to hold a second contest for teachers and students who enroll in The City, an online interactive resource that teaches basic financial skills.

Teachers who register to the program can enter a draw to win a SMART BoardTM, while students can win one of three laptop computers. To be eligible, students and teachers in any Canadian province or territory must register and participate in The City before March 31, 2011. The contest rules are available on our website, or can be obtained by calling the FCAC Consumer Contact Centre toll-free at 1-866-461-3222.

Winners of the first term contest will be announced in February.

The City is a free, Web-based learning program developed by the Financial Consumer Agency of Canada (FCAC) and the British Columbia Securities Commission (BCSC) in order to help educators teach young people financial skills that will be useful to them throughout their lives. It is a great way for students to learn more about the difference between their wants and needs, budgeting, managing money, keeping expenses under control, building savings, using credit wisely and the basics of insurance and investments. They also learn how to avoid getting into debt and becoming victims of fraud. If the students learn from mistakes made in the virtual world, they can avoid making what could be a costly mistake in the real world.

Our Success Stories videos offer more information on how teachers and students are using The City. For example, Lucy Johnson, a teacher from Coaldale, Alberta, talks about the positive feedback she hears from students about the program. Isabelle, Vincent, Nicholas and Trevor, four high school students from New Brunswick, also share their experience with the program.

FCAC‘s gateway to financial education, The Money Belt, provides tips, quizzes and interactive resources for teachers, students and parents.

About FCAC

With educational materials and interactive tools, FCAC provides objective information about financial products and services and informs consumers about their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. Through its financial literacy program, FCAC helps Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC also makes sure that federally regulated financial institutions and payment card network operators comply with legislation and agreements intended to protect consumers.

For more information on the contest or on FCAC, you can reach us through the FCAC Consumer Contact Centre by calling toll-free 1-866-461-3222 (TTY: 613-947-7771 or 1-866-914-6097) or by visiting our website: fcac.gc.ca.

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