A Pathway to Social and Economic Inclusion: Financial Empowerment and Problem-Solving (FEPS) Program Partners: West Neighbourhood House Toronto Neighbourhood Centres Jane Finch Family and Community Centre Agincourt Community Services Association Prosper Canada The Working Centre EBO Centre  

Setting the context .

The road to FEPS and the early years Financial literacy and being a newcomer Financial literacy and adults with low literacy Parkdale Social Audit Learn$ave Cash and Save Industry Canada Research 1995 2005 Community Economic Development Parkdale Banking Project CUSP FAPS Financial Exclusion in Canada - Community Economic Development and lack of access to credit and financial service for low income community members Parkdale Social Audit identifies access to financial services as a key community issue Royal Bank closes Parkdale Branch and Parkdale Banking Project is launched with the financial support of RBC and the participation of all banks in Parkdale - As cuts to income security programs deepen, St. Christopher House individual and systemic advocacy begins to look not only at increasing incomes but also looks at how to lower expenses - Learn$ave . A national demonstration project that matched savings of low income families and provided financial literacy training and support. Begin to look at connection between income and wealth (asset) poverty - CUSP. Community Undertaking Social Policy brings together lived experience, policy experts and community leaders to look at the intersection of income security, tax policy and earned income Parkdale Banking Project 2.0. Worked with RBC and Bain and Company to design Cash and Save, an alternative option between a bank and predatory (usury) cheque cashing services FAPS fills the gap between the general knowledge in community services and the specialized knowledge in community legal clinics FAPS support many networks and organizations as well as taking on research to better demonstrate the financial dynamics of low income persons GIS RDSP/TFSP ISWAA MISWAA mystery shopping financial diaries financial life histories regulation and protection

The road to FEPS Consultations /Networks/Coalitions/ Public Education/Policy work Retiring on a low- income Provincial and City poverty reduction Informal Economy & Self-employment 2008 2016 Fragmented funding for program delivery & innovation Partnership with TNC & replication with JFCFC TNC project expansion & Replication with ACSA FAPS name change and partnership with Prosper Canada – 1st Government funding Replication begins with the new sites - Community Economic Development and lack of access to credit and financial service for low income community members Parkdale Social Audit identifies access to financial services as a key community issue Royal Bank closes Parkdale Branch and Parkdale Banking Project is launched with the financial support of RBC and the participation of all banks in Parkdale - Learn$ave . A national demonstration project that matched savings of low income families and provided financial literacy training and support. Begin to look at connection between income and wealth (asset) poverty - CUSP. Community Undertaking Social Policy brings together lived experience, policy experts and community leaders to look at the intersection of income security, tax policy and earned income Parkdale Banking Project 2.0. Worked with RBC and Bain and Company to design Cash and Save, an alternative option between a bank and predatory (usury) cheque cashing services FAPS fills the gap between the general knowledge in community services and the specialized knowledge in community legal clinics FAPS support many networks and organizations as well as taking on research to better demonstrate the financial dynamics of low income persons Sector Capacity Building/Profile Building/Consulting

FEPS Goals and Objectives Goal: To empower low-income people to make informed financial decisions and improve their financial security and well-being Increase access to financial entitlements and rights Increase financial knowledge and capacity Expand the capacity of services in support of low income communities Promote a policy and regulatory environment responsive to low income dynamics

Systemic Advocacy Service Capacity Building Direct Service Capacity Building Workshops for Program Participants Training for organizations Income Security Programs Basic Banking Consumer Advocacy Tax Returns Tax Clinics Debt & Credit Financial institutions Pre-paid Money Card Supporting multi-stake-holder policy development: “Modernizing Income Security Strategies for Working Age Adults” Financial interests & experience of people living on a low income Asset Change oriented research – financial inclusion, informal economy Pay day loans Money Management & Goal - Setting FEPS Program Components One to one Problem solving Coalitions and networks Replication Public and financial policy

Promising practices at the early stages of financial engagement Pathway Three: Sustaining Pathway Two: Coping Pathway One: Stabilizing Enhancing social engagement Paying debts and building financial stability Shifting from ‘survival’ to ‘future’ mode Building financial capability Accessing trusted, appropriate money guidance Relieving financial distress Deepening motivation to act Increasing financial literacy Accessing community services Making ends meet Increasing personal agency Understanding money and priorities Conditions Capacity

Financial Empowerment and Problem Solving . “We are like a second social safety net. We help people who have fallen through the cracks of the existing social safety net to gain access to social supports and income entitlements.” (CFW) FINANCIAL ISSUES Primary & Secondary Personal Biography Status - Immigration Relationship Dependents Income Financial Assets Relationship with Financial Institutions Legal Issues Consumer Issues Personal Health/ Disability Money- Related Attitudes and Capabilities

Other information http://www.westnh.org/wp-content/uploads/2014/06/FEPS-Outcomes-Evaluation-Final-2014-08-25.pdf http://www.westnh.org/wp-content/uploads/2014/06/FEPS-Outcomes-Evaluation-Executive-Summary-2014.pdf http://www.westnh.org/wp-content/uploads/2014/06/FEPS-Models-Paper-Final-2014-08-25.pdf

The FEPS (Financial Empowerment and Problem Solving) Program is generously funded by the Ontario Ministry of Community and Social Services and delivered in partnership with: These FEPS training materials and support documents created by West Neighbourhood House for the FEPS program.