Calgary's Financial Empowerment Model

lprf
povertyreduction

(Trudi Collins) #1

This recent case study from Tamarack shows how financial empowerment strategies can play a powerful role in poverty reduction.

Evaluation results from 2017 included:

  • 1,534 Calgarians living on low incomes received community supports for basic needs,
    with $1,105,688 provided to individuals and families facing a financial crisis.
  • 71 agency staff were trained to coach individuals experiencing financial stress.
  • 587 tax clinics were held in the community, led by 857 trained volunteers.
  • 8,445 tax returns were filed through tax clinics, resulting in $3,721,649 in tax refunds
    for Calgarians living on low incomes.
  • 143 front-line staff across 17 partner agencies supported Calgarians living on low
    incomes to open 961 new RESPs for their children.
  • 311 people living on low incomes participated in a matched savings program, with
    $403,542 from these funds put toward purchasing a financial asset.

Do you have examples of financial empowerment strategies that are working in your community?