Adopters of the Measurement Plan

ABC Life Literacy Canada offers a free introductory financial literacy program for adult learners called Money Matters. The program offers free resources, workshops, and online courses to help learners increase their confidence to better manage their finances.

Over the past decade or so, AMF has received reports from victims of fraud on fraudulent investment websites. This type of fraud has a range of consequences for victims. The Clinique de cyber-criminologie has been identified as a partner, as it offers prevention tools and individualised support services to victims of online fraud. The collaboration seeks to refer victims who contact the AMF to the clinic, so that they can receive support tailored to their situation.

The Bank of Canada continues to use the Bitcoin Omnibus Survey (BTCOS) to monitor trends in Canadians’ awareness, ownership and use of Bitcoin and other cryptoassets. The survey also measures Canadians’ financial and crypto literacy, and their use of cash. 

BEAR publishes guides and reports for stakeholders on how to apply behavioural insights, as well as engage in financial consumer research—for example, collecting data on credit card choice and ways to effectively promote savings behaviours.

Black Moms Connection launched FinLit U in 2020. It is an 8-week financial literacy masterclass designed for Black mothers and is led by Black financial professionals. The program leaders consult with consumers and financial professionals from the Black community to ensure a highly tailored approach that aims to improve confidence and rates of inclusion in the financial system. They use qualitative and quantitative feedback to assess consumers’ access and use of financial products and services, as well as to get a sense of the kinds of negative experiences that Black consumers may face.

CMHC monitors mortgage and consumer trends using its Mortgage Consumer Survey. Surveying over 4,000 Canadians, this tool has helped understand consumers’ thoughts, attitudes and behaviours regarding homeownership and the process of obtaining a mortgage.

CBA’s Your Money Students and Your Money Seniors are free, non commercial financial literacy education seminars designed to help Canadians gain an understanding of responsible financial management and achieve financial well-being. The seminars are presented by volunteer bankers in communities across Canada in English and French and are available both virtually and in-person.

The CCFWE is currently working with financial service providers, social service agencies, policymakers and family lawyers to build tools and resources that will help them identify and respond to signs of domestic economic abuse for victims of intimate partner violence. These tools include the Economic Abuse Screening Tool for social service providers that helps frontline workers detect victims and refer them to appropriate financial resources; fact sheets for banks, social service providers and the general public on economic abuse tactics and resources; a financial literacy course specifically designed for victim-survivors to recover from economic abuse.

The Help! Managing Your Money on Campus program is designed to equip post-secondary students with essential financial skills to navigate their educational journey and beyond. It also provides valuable training and employment opportunities, empowering students to build both financial literacy and work experience for a brighter future.

The Managing Your Money in Canada program helps newcomers navigate Canadian financial systems by integrating finance topics with language training, making them feel more prepared for life in Canada. With workshops available at basic, intermediate, and advanced levels, the program offers tailored financial education to suit diverse learning needs and backgrounds.

The Money and Youth program offers a widely popular financial literacy resource for students, empowering them to make informed financial decisions as they prepare for their futures. In addition to this resource, the program provides engaging finance workshops for students, as well as for the parents and teachers supporting their financial education journey.

The Money and You: Seniors Edition program is designed to help older Canadians navigate financial and retirement planning with confidence. Through specialized workshops, the program provides valuable guidance on managing finances in retirement, ensuring seniors are well-prepared for their financial futures.

The Office of the Investor at CIRO engaged with Innovative Research Group to conduct a national investor survey. The research’s objective is to help CIRO understand the attitudes, knowledge, beliefs and behaviours of Canadians, particularly Canadian investors.

CanAge works with government and financial service providers to identify challenges that frontline employees face when trying to provide optimal service for, and fair treatment of, seniors. This work is particularly relevant in supporting banks’ compliance with the Code of Conduct for the Delivery of Banking Services to Seniors.

CPA Canada provides no-cost programs and free online resources that help Canadians own their finances and learn the language of money. To support their programming, they conduct nationally representative surveys annually to examine people’s attitudes and feelings towards their personal finances. The surveys help monitor how Canadians are handling new financial realities, managing financial stressors, and engaging in personal financial planning.

Over the past decade or so, AMF has received reports from victims of fraud on fraudulent investment websites. This type of fraud has a range of consequences for victims. The Clinique de cyber-criminologie has been identified as a partner, as it offers prevention tools and individualised support services to victims of online fraud. The collaboration seeks to refer victims who contact the AMF to the clinic, so that they can receive support tailored to their situation.

The Common Good Plan provides not-for-profit workers and organizations with a user-friendly RRSP/TFSA plan to grow their savings for retirement. Their fully digital retirement plan gives employers an easy way to set up and manage their plan.

Credit Canada GOLD is a financial coaching program that provides participants the personalized support they need to meet individual financial goals. The program consists of 6 weeks of classes followed by two years of continued support.

Eckler partners with employers, pension plans and unions across Canada to deliver workplace financial wellness services to employees and their members. Eckler’s Guided Outcomes (GO)™ financial wellness curriculum is a modular, multi-channel educational program that addresses the full spectrum of financial wellness: from cashflow management to retirement readiness. 

Equifax is currently focused on acquiring rental data in Canada to support the credit underserved. Canadians who rent their homes are often paying more than they would pay for a mortgage, but don’t get credit for consistently making those payments. Adding this to the mix can paint a more accurate picture for those who don’t have data traditionally used to describe financial health, helping them have more equitable access to credit.

Families Canada is working to connect women living on low incomes with financial literacy programs that meet their needs. Through national research and consultations, they have identified gender-specific barriers that prevent women living on low incomes (particularly those that have experienced trauma and violence) from accessing financial literacy information and financial products and services. They offer professional development training to help financial literacy educators understand and apply trauma- and violence-informed approaches (TVIA) when supporting women. They continue to work to incorporate Strategy-Aligned Measures in their financial literacy work and take a systemic approach to improving women's and girls' economic security and prosperity.

Using tailored approaches to better serve the needs of diverse audiences, FCAC leverages insights from data, design architecture and behavioural science research to develop experiments, tools, and interventions to improve financial literacy in Canada.  

The Pilot Study: Buy Now, Pay Later Services in Canada is a survey from the Financial Consumer Agency of Canada. It aimed to broaden the Agency's understanding of the buy now, pay later market in Canada, from the perspective of Canadian consumers. 

The Survey of Consumers' Awareness of their Financial Rights and Responsibilities gathers evidence of certain financial rights and responsibilities, highlights potential gaps in consumers’ awareness of certain financial risks identified in the Financial Consumer Agency of Canada's industry review of bank sales practices, and assesses results against the baseline established in 2019. 

The 2019 Canadian Financial Capability Survey is designed to shed light on Canadians’ knowledge, abilities and behaviours as they relate to making financial decisions. A key objective is to assess how Canadians are doing on indicators of financial well-being and inform ongoing efforts aimed at strengthening their financial literacy. 

The goal of the Mystery Shopping at Retail Banks initiative is to better understand how frontline bank employees sell financial products and services and how consumers experience the sales process. 

The Survey of Canadians’ Use of Banking Products and Services is designed to collect information during the pandemic about how Canadians are consuming financial products during the pandemic and to what extent they are accessing COVID-19-related financial assistance offered by the banks. 

The Monthly Financial Well-being Monitor is a monthly survey designed to collect information during the pandemic about Canadians' day-to-day financial management and financial well-being. 

The Survey on Banking of Canadians assesses the banking experiences of older Canadians as well as to identify challenges and potential solutions.

The Financial Resilience Institute engages in regular data collection, analytics and publishing of free independent ecosystem reports on the financial resilience, financial health and financial well-being of Canadians and more financially vulnerable populations, plus Canadians’ financial inclusion and access-to-help challenges. This includes measurement and tracking of household financial resilience through the Institute’s peer reviewed Seymour Financial Resilience Index ® and Financial Well-Being studies instruments.

FSRA recognizes that consumers have varying degrees of financial knowledge and understanding, and unique needs to make informed financial decisions. FSRA’s Consumer Education Framework is designed to increase consumers’ knowledge to make informed financial decisions.

To help promote financial literacy, FSRA also awards grants for consumer education initiatives or research that focus on financial literacy or awareness.

Fintech Cadence supports the financial literacy ecosystem—and, in turn, promotes increased digital access and digital literacy—by helping to build and sustain the Fintech community. They promote the education of Fintech talent, support early-stage start-ups, and develop collaborations with financial institutions to help solve industry challenges. They track the FinTechs in Canada, their areas of specialty, what kinds of products and services they provide, as well as details about their target audiences.

As part of its IMAGINE 2030 vision of financial wellness for all Canadians, FP Canada has committed to conducting surveys to measure Canadians’ financial health through indices tracking four areas: financial well-being; financial confidence; access to financial advice; and trust in financial professionals. The results of the inaugural survey were published in the IMAGINE 2030 Benchmark Report, released in May 2022. FP Canada will continue to provide progress reports until 2030.

The IRCC-funded Settlement Program aims to provide newcomers to Canada with information to make informed decisions, adequate official language skills, and support to build networks within their new communities. The Performance Measurement Strategy for the Program allows for the ongoing measurement and reporting of the Program’s expected results (including through data, research and reports).

ISED runs the Digital Literacy Exchange Program. It supports initiatives that teach fundamental digital literacy skills and promotes inclusion for Canadians from underrepresented groups who lack the fundamental digital literacy skills to participate in the digital economy and society. The program tracks many Strategy-Aligned Measures, including the percentage of program participants from underrepresented groups in the digital economy, and the percentage of program users that have increased their confidence, as well as those who report having improved their skills in using the Internet.

Savings Circles is an Individual Development Account (IDA) program that works with people in Calgary and surrounding area and Indigenous people within Treaty 7 Territory who are living on lower incomes and striving for more stability. For six months, participants commit to saving between $5 and $50 each month, engage in a minimum of two individual meetings with the facilitator, and attend seven money management workshops. Monthly during the program, a participant’s savings are matched 3:1. This allows them to save up to $1,200 to purchase a sustainable and meaningful asset that will make a difference in the quality of their life.

OBSI seeks to inspire confidence in the Canadian financial services sector. As part of this, they share insights, experience and statistical information with regulators, government, industry and consumer groups to help inform public policy decisions.

Through peer-to-peer mentoring, PennyDrops has reached more than 17,000 high school students and 6,500 university students across Canada by delivering workshop-based sessions by trained university students. PennyDrops has also partnered with Indigenous empowerment organizations to develop programs that deliver financial literacy lessons to Indigenous youth. To track their impact, PennyDrops uses pre- and post-training surveys to assess the change in participants’ knowledge.

The work of Prosper Canada touches upon all of the Strategy’s priorities, and often involves a focus on enhancing access to financial help. For example, their Financial Literacy Evaluation Resource Kit includes Strategy-Aligned Measures that gather information about the frequency and kinds of financial help opportunities that consumers engage in. Their Indicators for Financial Empowerment serve as a resource for ecosystem stakeholders to track progress in a systematic way.

QUBER is a personal finance app that encourages saving and learning through gamification. They use savings challenges, lotteries, and matched savings programs to nudge people to save more. Working with employers and Financial Institutions, they are able to capture key demographic and vulnerability-related information (e.g., people without emergency funds or those living paycheque-to-paycheque), as well as Strategy-Aligned Measures on the success, and number, of users completing challenges.  They track saving amounts, frequencies, retention, fees paid, and confidence levels.

The Quiz on Being New to Canada helps gauge consumers’ understanding of the article: A newcomer’s guide to choosing a bank account, which provides information on eligibility to open a bank account, explains how to choose and open a bank account prior to arriving in Canada, account options once in Canada, potentially building a credit score, etc.

The Quiz on Banking 101 – Credit Cards helps gauge consumers’ understanding of the article: Common financial mistakes to avoid in Canada, which provides advice on budgeting, reading the fine print in agreements/contracts, creating and maintaining a good credit history, different credit card options, credit card misuse, etc.

The Quiz on Student Banking 101 Video helps gauge students’ understanding of the video: Check out our Student Banking 101. This video gives information on student account options, online banking and mobile app use, how to get financial advice, creating and managing a budget, and borrowing wisely. It also provides education on scams and frauds, providing “To-Do” lists on opening accounts, borrowing, and online security.

Seedwell is also a personal finance app using behavioural insights to help consumers. Provided by employers, the app provides a central hub to help employees navigate the financial marketplace starting directly from their paycheque deposit. Consumers are provided with nudges (e.g., anticipating their pay and identifying ways they could use those funds), and access to financial literacy material and financial advisors, without being recommended specific products.

The objective of Statistics Canada’s Survey on Savings for Persons with Disabilities (SSPD) is to collect information on the knowledge and behaviours of Canadians with disabilities and their caregivers, with respect to savings.

The purpose of Statistics Canada’s Canadian Internet Use Survey (CIUS) is to gather data on how digital technologies and the Internet are transforming society, the economy, and the everyday lives of Canadians.

West Neighbourhood House and Prosper Canada have partnered to implement the use of a financial coaching/counselling platform. The goal is to develop a platform that seamlessly integrates all functions, from the first point of consumer contact to the financial coach’s/counsellor’s ongoing support of their client. Assessing and monitoring clients’ financial wellbeing is of key significance and will help tailor support to consumers’ needs. The platform will provide an understanding of key indicators such as income progression, savings, credit score, and financial goal progression.