For Immediate Release
April 14, 2009

CSA increases financial literacy among youth with “Financial Fitness Challenge”

Montreal – Twelve young Canadians have demonstrated their financial savvy and won scholarships of $750 after participating in the Canadian Securities Administrator (CSA) “Financial Fitness Challenge”.

“As securities regulators, we appreciate the importance of financial literacy and are committed to improving that particular skill in young Canadians” said CSA Chair Jean St-Gelais. “It is encouraging that youth are interested in enhancing their money management, savings and investment skills, especially at an age when many start earning and handling their own money”.

From February 2 to 28, 2009, the CSA invited Canadians aged 15 to 21 to take part in an interactive on-line challenge in order to learn more about the importance of saving and investing money for the future. The website, www.FinancialFitnessChallenge.ca, received 37,970 visits from youth who used the educational games, tips and interactive activities. The on-line quiz was successfully answered by 13,702 youth who entered for a chance to win a scholarship.

While only 30 per cent of participants surveyed were very interested in personal finance before completing the CSA’s online challenge, 62 per cent said they were very interested in personal finance after completing the challenge. More than 90 per cent of participants indicated that they now know more about how to budget, save and invest and 95 per cent indicated that they now have some ideas on how to be financially healthy.

The winners, listed below, hail from each of the Canadian provinces and two of the territories. They have each won a $750 scholarship for demonstrating their financial fitness savvy:

· Michael Stannard (British Columbia)
· Brenna Lyanne Toth (Alberta)
· Amanda Abbott (Saskatchewan)
· Jennifer Froese (Manitoba)
· Shelby Davies (Ontario)
· Karen Benzaquen (Québec)
· Rosalinda Kan (New Brunswick)
· Jasmine Emily Hare (Nova Scotia)
· Isaac Williams (Prince Edward Island)
· Amanda Hewlett (Newfoundland and Labrador)
· Rosalind Skinner (Northwest Territories)
· Denis Godin (Yukon)

Although the Financial Fitness Challenge for 2009 is over, the site is accessible year-round, at www.FinancialFitnessChallenge.ca. Youth who didn’t win or missed the contest can look forward to another edition of the CSA contest next year.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

For more information:

 

Mark Dickey
Alberta Securities Commission
403 297-4481

Sylvain Théberge
Québec Autorité des marchés financiers
514-940-2176

Andrew Poon
British Columbia Securities Commission
604-899-6880

Ainsley Cunningham
Manitoba Securities Commission
204-945-4733

Wendy Connors-Beckett
New Brunswick Securities Commission
506-643-7745

Doug Connolly
Financial Services Regulation Div.
Newfoundland and Labrador
709-729-2594

Donald MacDougall
Securities Office
Northwest Territories
867-920-8984

Natalie MacLellan
Nova Scotia Securities Commission
902-424-8586

Louis Arki
Securities Office Nunavut
867-975-6587
Perry Quinton
Ontario Securities Commission
416-593-2348

Mark Gallant
Office of the Attorney General
Prince Edward Island
902-368-4552

Barbara Shourounis
Saskatchewan Financial Services Commission
306-787-5842

Fred Pretorius
Securities Office
Yukon
867-667-5225