This morning, CAPRA hosted a community discussion around two central themes:
- The 2016 living wage calculation for Red Deer and Central Alberta, and
- Developing local alternatives to payday lending
About 60 people were in attendance, and after the new living wage levels were announced, a discussion was held regarding how living wage can benefit business and community, and also regarding the challenges that may be associated.
After the living wage discussion, the discussion moved to micro-lending, and exploring local solutions for people needing emergency credit and/or the hard-to-bank. The Government of Alberta passed Bill 15 earlier this year, restricting payday lending practices. However, people still need access to small ‘micro’ loans.
- Carlen Scheyk with Momentum on First Calgary Financial Cash Crunch program
- Karina Hurtado with United Way Capital Region on the Edmonton Financial Pathways Collaborative
- Nazim Manji with Servus Credit Union
- Paul Norris with ATB Financial
Participants then discussed key learnings from the presentations, and what potential local solutions might look like. The CAPRA Financial Literacy Action Committee will now compile all of the notes from the table discussions, identify themes and discuss next steps.
More information on the Financial Literacy Action Committee
Many thanks to our sponsors for today’s event:
To get involved or stay informed about these important issues, contact us at firstname.lastname@example.org