Alterna Savings Supports & Commends the Task Force on Financial Literacy's Recommendations

Urges Finance Minister Flaherty to Take Swift Action

Toronto:  2011-02-09

Alterna Savings & Credit Union Limited applauds the Government of Canada's Task Force on Financial Literacy’s recommendations regarding a national strategy to help Canadians make better financial decisions for themselves and their families.

"From the start, Alterna has been very supportive of the Task Force's mandate," said Alterna’s President and CEO, John Lahey. "In particular we are very pleased that the Task Force recommendations include a focus on shared responsibility among consumers, financial institutions, agencies, and governments; accountability and transparency for initiatives undertaken; and the recognition that financial literacy is an essential skill for every Canadian.

"Alterna has always held the belief that personal wealth is more strongly correlated with financial literacy than it is with income," said Mr. Lahey. "We hope that Minister Flaherty maintains the momentum and works to implement the recommendations as quickly as possible.  While we were pleased to participate in the consultation process, and very excited to see a number of our recommendations included in the final strategy document, we are now studying the report in detail to determine how Alterna can play a meaningful role and contribution to the intent of the recommendations.  We are quite impressed by the thoughtfulness that went into the Task Force report.”

Alterna Savings is a full-service, member-focused, and community-based credit union that operates in the National Capital Region and the Greater Toronto Area. Guided by a commitment to support the well-being of members, employees and communities, Alterna offers a wide range of financial products and services to nearly 120,000 members through 22 branches, ABMs, online banking, and more. Learn about the Alterna Savings difference at alterna.ca.

For further information contact:

Pamela Stewart, Vice President and Chief Marketing Officer
pamela.stewart@alterna.ca
416.252.5625 ext 7703