Empower U
Empower U – Building Confident Futures is a financial empowerment program that helps participants increase their knowledge, tools and access to resources to meet their financial goals. It combines financial education, one-on-one financial coaching and matched savings.
Building Confident Futures
A Need for Specialized Services
There is compelling evidence that women and the families they care for have more barriers to achieving financial security. This can result from a variety of circumstances.
- 53% of those experiencing poverty are women, 11% identify as Indigenous and 42% identify as visible minorities. (Source: A Profile of Poverty in Edmonton 2019 – Edmonton Social Planning Council, May 2019)
- Women tend to live longer, have had fewer years in paid work and have lower average earnings than men. (Source: Prosper Canada Centre for Financial Literacy – Financial Literacy and People Living in Low Incomes, November 2015. )
- Banking can be particularly challenging for marginalized people who have limited experiences with mainstream financial institutions because they feel intimidated, unwelcome, or that products and services do not meet their needs. Source: Prosper Canada Centre for Financial Literacy – Financial Literacy and People Living in Low Incomes, November 2015.)
Program Overview
Through Empower U, participants will learn how to:
- Save money
- Reduce debt
- Improve credit
- Budget
- Set short term and long-term financial goals
- Become a homeowner
- Invest money for you or your children’s education
- Access government benefits and subsidies
Program Delivery
Empower U includes nine two-hour modules delivered over 10 to 14 weeks, depending on the agency.
The modules covered by Empower U are:
- Exploring our relationship with money
- Income and taxes
- Budgeting
- Banking and financial services
- Savings
- Credit basics
- Credit reporting
- Debt
- The wise consumer
Matched Savings
Savings are matched in the Empower U program at a 2:1 ratio. For example, if a participant saves $250 over the five-month period, the program matches the savings by adding $500, for a total of $750. These savings can be used as an investment in their children’s education through an RESP; TFSA (GIC) towards a specific financial goal or as an emergency fund. Emergency funds can be used to cover unexpected expenses, job loss or sudden illness.
Empower U partners with financial planners and practitioners to provide one-on-one financial coaching support. After completing the financial modules, a volunteer financial coach helps participants identify, plan for and achieve their financial goals.
Program Delivery Partners
Nine agencies facilitate Empower U programs. Anyone interested in participating in an Empower U program, can contact one of the following organizations to attend. The one program that is offered to men and couples is out of Norwood Child and Family Resource Centre.
The Candora Society of Edmonton
The organization runs Empower U groups for women twice a year, once a week for 14 weeks. Phone: (780) 474 -5011.
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Elizabeth Fry Society of Edmonton
Empower U groups are offered three times a year, once a week for 10 weeks. Phone: (780) 784-2203.
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CEASE – Centre to End All Sexual Exploitation
Located in north Edmonton, the organization runs three Empower U groups a year, once a week for 10 weeks. Groups are held in the evenings. Phone: (780) 471-6137.
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Wings of Providence
Empower U groups are offered twice a year, once a week for ten weeks. Phone: (780) 426-4985.
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E4C
Empower U groups are offered twice a year, once a week for 11 weeks at varying locations. Phone: (780) 554-0894.
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Norwood Child and Family Resource Centre
Empower U groups are offered four times a year, once a week for 15 weeks at two locations. This is the only Empower U program open to women, men and couples. Phone: (780) 471-3737.
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Community Adult Learning and Literacy Society
Empower U groups are offered twice a year, once a week for 10 weeks. Phone: (780) 667-8441.
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Lives in Transition
Empower U groups are offered three times a year, once a week for 12 weeks. Phone: (780) 496-9224.
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Islamic Family & Social Services Association (IFSSA)
IFSSA’s Empower U program includes sections on Islamic banking and newcomer supports and it is offered in Arabic, Somali, English and Urdu/Punjabi/Hindi. Phone: (780) 900-2777.
Visit WebsiteProgram Impact (2012-2023)
In 2023, Empower U graduated 231 participants in the program, an increase from 2022. 131 participants took part in the matched savings, saving over $100,000 in total. "Participants were able to gain confidence, knowledge and skills in their financial literacy, empowering them to be take control of their financial lives. This liberation had a positive impact on their lives, beyond finances, with reported growth in all five asset areas: financial, personal, human, physical and social. Participants reported being better able to meet their basic needs (food, shelter, clothing), while also reducing debts and saving money each month. Early indications suggest that many of these improvements can be sustained up to six months after program completion." - 2023 Empower U Evaluation Report, prepared by Three Hive Consulting.
2,399
participants have graduated from Empower U.
$1,185,000
combined participant savings and matched savings dollars through Empower U.
3,420
people have enrolled to participate in Empower U.
