New financial literacy program from RBC responds to recommendations of First Nations youth

Co-developed with the First Nations Child & Family Caring Society, RBC's Financial Literacy for Indigenous Peoples Course aims to affirm RBC's commitment to Reconciliation by providing resources for Indigenous peoples to support their financial well-being

TORONTO, Oct. 28, 2021 /CNW/ -  Royal Bank of Canada ("RBC") today announced the launch of the Financial Literacy for Indigenous Peoples Course, aimed at providing Indigenous peoples with access to resources and information on managing personal finances. Created in partnership with the First Nations Child & Family Caring Society, the program provides practical advice and guidance on managing money with confidence, and planning for the future. The course was created in response to a recommendation by First Nations youth who gathered in 2019 to discuss the need for changes to child welfare and provide thoughts on the compensation for First Nations children, youth and their families that was ordered by the Canadian Human Rights Tribunal earlier that year. Access to financial literacy information is also a recommendation made by residential school survivors in past reports.

"Providing thoughtful financial literacy resources and support is an important part of how RBC works with Indigenous communities across Canada," said Dale Sturges, National Director, RBC Indigenous Financial Services. "We know from the research and recommendations of Indigenous peoples that receiving a lump sum in compensation can be a stressful and even re-traumatizing experience. By providing straightforward, accessible information, as was recommended, our hope is that this financial literacy program will be a useful tool for people. The course is broadly designed and intended to be a resource for all Indigenous peoples to support knowledge and awareness, and to help them achieve their financial goals."

The Financial Literacy for Indigenous Peoples Course is an interactive, non-credit, modular learning experience covering key topics like basics about money & banking, budgeting, managing debt and credit, and saving and investing. Each module is easily accessible in written PDF form and also includes online multimedia material, such as short introduction videos featuring RBC's Indigenous Employee Resource Group, the Royal Eagles. The entire course may be viewed in approximately two hours, and can be completed at one's own pace.

"When former youth in care said they wanted to learn more about financial literacy, Royal Bank of Canada generously worked with the Caring Society and Youth in Care Canada to create these practical and informative resources," said Cindy Blackstock, Executive Director, First Nations Child & Family Caring Society. "While tailored for young people in care or formerly in care, these resources are helpful to us all."

Since 2008, RBC has been documenting the ways in which its reconciliation actions are brought to life through its annual publication, A Chosen Journey. Featuring stories of Indigenous excellence, resilience and achievement, each report highlights examples of partnership between RBC and Indigenous-led efforts to build sustainable communities; drive economic growth; and lead powerful change in important areas like skills and career development.

To learn more about RBC's reconciliation actions, or to access RBC's Financial Literacy for Indigenous Peoples course, please visit rbc.com/indigenous.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 88,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE RBC Royal Bank