The Ontario Securities Commission (OSC) will invest up to $5.4 million over the next three years in Prosper Canada to support financial education and coaching to Ontario residents with low and moderate incomes, the national charity announced Tuesday.
“This initiative will expand access to tailored financial empowerment supports that enable people to set and achieve financial goals, build financial stability and become informed investors,” according to a release.
With the new funding, the charity said it will work with its community partners in Ontario to enhance its consumer and investor education training and resources for low- and modest-income individuals and to strengthen the financial counselling and coaching services delivered through community organizations.
Prosper Canada said it also plans to use the funds to collaborate with interested First Nation communities in northern Ontario to develop and deliver culturally appropriate financial wellness programs to members of those communities.
The charity said the new investment from the OSC builds on previous funding that helped Prosper Canada train over 900 community organizations and support more than 3,000 Ontarians to improve their financial well-being.