FINANCIAL EMPOWERMENT CHAMPIONS - Example of Financial Empowerment Champions work plan - Please note: This work plan has been filled in to demonstrate how an FEC might achieve each target By, each FEC will (on average) meet or exceed the targets in the box below. We understand that each organization has its own expertise and may not choose to expand interventions to meet every target, instead focusing on interventions that align more closely with their current mission, capacity and community needs. Please identify the targets below that your organization will work towards. For each target, develop a work plan that demonstrates the key activities required, the time frame in which each activity will occur and the anticipated new reach. Note: There is a separate template for each target. For organizations that may be applying in partnership/collaboration with, please identify one organization to be the lead in the work plan. Where appropriate in this work plan, please highlight where partner organizations will be contributing to the project. Successful applicants will have an opportunity to adjust their work plans annually. AVERAGE REACH TARGETS FOR EACH FEC: - Train 400 frontline staff to deliver financial literacy to individuals (with an approximate reach of 28,000 individuals receiving financial literacy education) - Support 1,000 individuals to meet with a financial coach and create a financial action plan - Help 1,600 individuals to open RESPs - Support 2,620 individuals to file their - Submit 700 applications for government benefits (Note: Count the number of benefits for which they have applied, not the number of individuals who submit them. For example, 1 individual may apply for 3 benefits) - Support 80 individuals that did not previously have a bank account to open one - Help 1,000 individuals set to their bank account to improve their financial management and reduce banking costs - Train 100 frontline staff in on the benefits of the RESP, CLB and CESG - Enable 200 volunteers to assist individuals living on low incomes to file their. 1
TARGET: Train 400 frontline staff to deliver financial literacy to individuals (with an approximate reach of 28,000 individuals receiving financial literacy education)* - Recruit and hire one new financial literacy facilitator for our organization - New facilitator organizes 2 financial literacy training sessions with 10 frontline staff in each session - Facilitator reviews and updates curriculum, incorporating RESP and CLB information into training - Facilitator organizes 7 financial literacy training sessions - Q3: July September - Q4: October - December - 20 frontline staff - Q1: January - Q1 Q4: January - December - 70 frontline staff - Facilitator organizes 7 financial literacy training sessions - Q1 Q4: January - December - 70 frontline staff - Facilitator organizes 7 financial literacy training sessions - Q1 Q4: January - December - 70 frontline staff - Facilitator organizes 7 financial literacy training sessions - Q1 Q4: January - December - 70 frontline staff * For the purpose of this example, we assume that each frontline staff member that is trained will impact 50 individuals through the life of the 4.5 year project. TOTAL : TOTAL ED REACH: - 300 frontline staff - 250 frontline staff (assuming current facilitator continues training from - ). - 550 frontline staff. 27,500 individuals. 2
TARGET: Support 1,000 individuals to meet with a financial coach and create a financial action plan - Recruit and train 1 full time coach - New coach schedules meetings with individuals In which quarter will this take - Q3: July September - Q4: October - December - 20 individuals meet with - Coach schedules meeting with individuals - Q1-Q4: January - December - 125 individuals meet with - Coach schedules meeting with individuals - Q1-Q4: January - December - 125 individuals meet with - Coach schedules meeting with individuals - Q1-Q4: January - December - 125 individuals meet with - Coach schedules meeting with individuals - Q1-Q4: January - December - 125 individuals meet with TOTAL : TOTAL ED REACH: - 520 individuals meet with - 500 individuals meet with the volunteer coaches over 5 years 1,020 individuals meet with 3
TARGET: Help 1,600 individuals to open RESPs - Hire and train one part time staff person to support individuals to open RESPs - Support would include: RESP promotion events; help applying for RESPs online using SmartSaver; support to obtain government identification necessary to open RESPs; and support to open bank accounts. - Host one RESP promotion event In which quarter will this take - Q3: July September - Q4: October - December - 50 RESPs - Support individuals to open RESPs - Host 4 RESP promotion events - Support individuals to open RESPs - Host 4 RESP promotion events - Train staff of partner organization to provide RESP support using SmartSaver tools - Support individuals to open RESPs - Host 4 RESP promotion events - Train staff of partner organization to provide RESP support using SmartSaver tools - Support individuals to open RESPs - Host 4 RESP promotion events - Train staff of partner organization to provide RESP support using SmartSaver tools - One each quarter - One each quarter - One each quarter - One each quarter TOTAL : TOTAL ED REACH: - 220 RESPs - 160 RESPs - 220 RESPs - 160 RESPs - 50 RESPs - 220 RESPs - 160 RESPs - 50 RESPs - 220 RESPs - 160 RESPs - 50 RESPs - 1,720 RESPs Opened - N/A - 1,720 RESPs Opened 4
TARGET: Support 2,620 individuals to file their - Financial coach files for individuals by appointment - Develop and distribute list of all free tax clinics in our municipality - Organize 10 free tax clinics - Financial coach files by appointment, throughout the year - Q4: October December - Q4: November - Q1: February and March - Q1- Q4: January December - 30 individuals file their - 500 individuals file their - 125 individuals file their - Organize 11 free tax clinics - New financial coach files by appointment, throughout the year - Organize 12 free tax clinics - Financial coach files by appointment, throughout the year - Organize 13 free tax clinics - Financial coach files by appointment, throughout the year - Q1: February and March - Q1- Q4: January December - Q1: February and March - Q1- Q4: January December - Q1: February and March - Q1- Q4: January December TOTAL : TOTAL ED REACH: - 550 individuals file their - 125 individuals file their - 600 individuals file their - 125 individuals file their - 650 individuals file their - 125 individuals file their - 2,830 individuals file their -N/A - 2,830 individuals file their 5
TARGET: Submit 700 applications for government benefits (Note: Count the number of benefits for which they have applied, not the number of individuals who submit them. For example, 1 individual may apply for 3 benefits) - Financial coach schedules meetings with individuals, helping them apply for government benefits - Q4: October - December - 10 individuals apply for 3 benefits each (on average). Total of 30 applications for benefits submitted. - Coach schedules meeting with individuals - Q1-Q4: January - December - 150 applications submitted. - Coach schedules meeting with individuals - Q1-Q4: January - December - 180 applications submitted. - Coach schedules meeting with individuals - Q1-Q4: January - December - 210 applications submitted. - Coach schedules meeting with individuals - Q1-Q4: January - December - 240 applications submitted. TOTAL : TOTAL ED REACH: - 810 applications for benefits submitted. - N/A - 810 applications for benefits submitted. 6
TARGET: Support 80 individuals that did not previously have a bank account to open one - Update organization s website to include information on banking for newcomers to Canada - Hire and train new staff person to provide Canadian banking information to newcomers and refugees - Support newcomers and refugees to open bank accounts - Q3: July September - Q1: January March - Q2-Q4: April - December - 15 bank accounts - Support newcomers and refugees to open bank accounts - Q1-Q4: January - December - 15 bank accounts - Support newcomers and refugees to open bank accounts - Q1-Q4: January - December - 15 bank accounts - Support newcomers and refugees to open bank accounts - Q1-Q4: January - December - 15 bank accounts TOTAL : TOTAL ED REACH: - 60 bank accounts - 40 bank accounts - 100 banks accounts 7
TARGET: Help 1,000 individuals set- to their bank account to improve their financial management and reduce banking costs In which quarter will this take - Financial coach provides support to individuals to set -Q4: October December - 10 individuals set - Financial coach provides support to individuals to set - Financial coach provides financial information to newcomers and specific instructions on how to set - Financial coach provides support to individuals to set - Financial coach provides financial information to newcomers and specific instructions on how to set - Financial coach provides support to individuals to set - Financial coach provides financial information to newcomers and specific instructions on how to set - Financial coach provides support to individuals to set - Financial coach provides financial information to newcomers and specific instructions on how to set 8 TOTAL : TOTAL ED REACH: - 100 individuals set - 50 individuals set - 100 individuals set - 50 individuals set - 100 individuals set - 50 individuals set - 100 individuals set - 50 individuals set - 610 individuals set - 390 individuals - 1,000 individuals set up direct deposit
TARGET: Train 100 frontline staff in on the benefits of the RESP, CLB and CESG - Recruit and hire one new financial literacy facilitator for our organization - Financial literacy facilitator updates curriculum to include information about RESPs, CLB and CESG - Facilitator organizes 7 training sessions with updated curriculum - Q3: July September - Q1: January - Q1 Q4: January - December - 70 frontline staff in - Facilitator organizes 7 training sessions with updated curriculum - Q1 Q4: January - December - 70 frontline staff in - Facilitator organizes 7 training sessions with updated curriculum - Q1 Q4: January - December - 70 frontline staff in - Facilitator organizes 7 training sessions with updated curriculum - Q1 Q4: January - December - 70 frontline staff in TOTAL : - 280 frontline staff in N/A TOTAL ED REACH: - 280 frontline staff in 9
TARGET: Enable 200 volunteers to assist individuals living on low incomes to file their. - Organize 10 free tax clinics. - Q1: February and March - 40 volunteers - Organize 11 free tax clinics. - Q1: February and March - 50 volunteers - Organize 12 free tax clinics. - Q1: February and March - 60 volunteers - Organize 13 free tax clinics. - Q1: February and March - 70 volunteers TOTAL : TOTAL ED REACH: - 220 volunteers -N/A - 220 volunteers 10