IG commits $5 million to Indigenous communities
IG Wealth Management has announced the launch of the IG Empower Your Tomorrow Indigenous Commitment, which dedicates $5 million over the next five years to support programs and initiatives to further the financial confidence of Indigenous communities in Canada.
IG has provided significant support to Indigenous Peoples through various local and national community initiatives for years, including scholarships and employment skills training, and partnering with and/or funding community groups and not-for-profits. The IG Empower Your Tomorrow Indigenous Commitment brings together these various pieces into a national strategy. The centerpiece of the campaign is a new partnership with Prosper Canada to build the financial confidence of Indigenous Peoples in isolated, rural communities.
Goal is to provide financial education
"We want to provide all Canadians with the education and resources they need to feel confident about their futures," said Damon Murchison, president & CEO, IG Wealth Management. "Indigenous Peoples are particularly underserved when it comes to accessible and culturally appropriate financial help services. We believe this new commitment and the resulting partnerships with Indigenous communities will help build greater financial confidence for their members."
Murchison noted that many Indigenous communities have found it challenging to navigate the financial impacts of the COVID-19 pandemic.
IG and Prosper Canada will leverage the capacity and expertise of leading regional financial empowerment organizations, SEED Winnipeg and Community Financial Counselling Services in Manitoba and Sudbury Community Service Centre in Ontario, as well as national Indigenous partner, AFOA Canada. The new program will begin with pilot projects in two Manitoba and two Ontario First Nation communities, which will be identified in early 2021.
"This program will support participating communities to undertake practical, relevant approaches to build the financial confidence of individuals, families and the community overall,” said Elizabeth Mulholland, CEO of Prosper Canada. “This includes help with tax filing and navigating government benefits, as well as help setting and achieving financial goals, such as paying down debt and building savings for the short- and longer-term."