Canadian Treasurer
 

November 1, 2017

Canadian Bankers Association partners with Carrot Rewards to revolutionize student financial education

TORONTO--Students participating in the Canadian Bankers Association's Your Money Students financial literacy program will have the opportunity to use a smartphone to earn points they can use for free movies, gift cards and more -- all while putting their new financial literacy skills to good use.

Launching during Financial Literacy Month, this groundbreaking pilot project from the CBA and Carrot Rewards will see Your Money Students participants in British Columbia and Ontario offered a series of short, app-based learning exercises to boost their knowledge and confidence about financial topics like budgeting, saving and wise use of credit.

"This partnership is just one of many ways that the banking industry is engaging young people to learn more about managing their money and planning for their financial future," says Neil Parmenter, President and CEO of the CBA. "Delivering Your Money Students content through an interactive platform like Carrot is a great way to engage today's generation of digital natives."

"Financial literacy is a critical element of overall wellness and all of us at Carrot are determined to provide authentic and effective guidance for all Canadians in this important area. We are thrilled to be welcoming the Canadian Bankers Association into our continuously expanding eco-system of mission-focused partners." says Carrot CEO Andreas Souvaliotis.

Bruce Sellery is a personal finance columnist for Cityline and MoneySense and the Executive Advisor on financial literacy for Carrot. He says, "Carrot is a great tool because it rewards people for engaging in really important content and provides them with a nudge to improve their behaviour and make real changes."

The Your Money Students program is available to Canadian high school teachers and their students across the country -- it's free, non-commercial and delivered by bankers volunteering their time in the community. More than 3,700 seminars have been delivered to 108,000 students in Ontario and 1,200 seminars have been delivered to 38,000 students in British Columbia since the program began in 1999.

Carrot Insights created the world's first national wellness rewards platform, Carrot Rewards. Carrot uses loyalty rewards to motivate and challenge their users to learn about their health and wellness and to be more physically active. Users are able to choose which rewards they want to earn; Aeroplan® Miles, More Rewards® Points, SCENE® Points, Petro-Points™, and Drop points. Carrot was created in collaboration with public sector agencies, the three leading Canadian health NGOs and the private sector. With an audience of over 530,000 users across Ontario, British Columbia and Newfoundland; Carrot has become one of the most popular and trusted health apps in Canada.

T he Canadian Bankers Association is the voice of more than 60 domestic and foreign banks that help drive Canada's economic growth and prosperity. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals.

 

 

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