To contribute to financial wellness and education in our communities, we are proud to offer free financial literacy workshops. Westoba Credit Union is very proud to partner with Each One Teach One to give our employees, members and community the tools they need to become financially successful!

Each One, Teach One is an innovative financial literacy program that trains employees of financial institutions to deliver basic financial skills workshops in community settings. We offer 17 different financial literacy workshops to help increase financial knowledge! There are workshops available for all age groups, demographics and knowledge levels with topics ranging from basic banking and budgeting to debt smarts to homeownership readiness.

What are the benefits?

Financial literacy is important and we want to help YOU succeed in all your future endeavors! The positive effects of learning more about your finances include:

  • Increased hopefulness and orientation towards the future
  • Reduced stress
  • Increased self reliance
  • Enhanced social capital
  • Enhanced inclusion or sense of belonging
  • Reduced risks associated with key financial choices and life events

What do our workshops look like?

Our highly trained staff can administer 60 – 90 minute workshops to your school, business or organization. All workshops are delivered in plain language, without any ties to products or services. The sole goal of empowering individuals to make the right financial decisions for themselves and their families.

Please find a complete workshop listing with a brief description listed below. For more information or to schedule a workshop email financialliteracy@westoba.com.

 

  • How to choose the right bank account for your needs
  • How to make interest work for you — not against you
  • Ways to reduce your account and transaction fees
  • What a budget is and why should you create one
  • Tips to help you reach your financial goals
  • Ideas to help you adjust your spending
  • How income taxes are used
  • Why it makes sense to file your tax return, even if you don’t owe money
  • Benefits available to lower-income tax-payers in Canada
  • Advantages and disadvantages of credit cards and prepaid cards
  • Important things to look for in a prepaid card agreement
  • How to figure out the real cost of using credit and prepaid cards
  • How to calculate the real cost of ‘bad’ loans
  • What you should know about payday and pawnshop loans
  • The real cost of using credit card cash advances
  • How to decide what kind of loan is best for your needs
  • How to understand payment terms and obligations
  • How interest is calculated and why it matters
  • Tips to manage your debt
  • When it makes sense to get a consolidation loan
  • The difference between consumer proposal and bankruptcy
  • Why your credit history matters to you
  • Simple steps to build a good credit score
  • What to do if you need to get yourself out of financial trouble
  • How thieves steal and use your personal information
  • Tips to keep your financial and personal information safe
  • What to do if you’re the victim of fraud or identity theft
  • The benefits of using RRSPs and TFSAs
  • How to decide whether to invest in an RRSP, a TFSA or both
  • The different kinds of RRSP and TFSA products (with no sales pitch!)
  • What an RESP is and how they work
  • How to decide what kind of RESP is best for your family
  • Free money to help grow your RESP
  • What makes a contract valid
  • Things to watch for in a cellphone contract
  • Why you should avoid rent-to-own contracts
  • What seniors financial abuse is
  • How to recognize if you or a loved one is being taken advantage of
  • Advanced planning tools to protect yourself or loved ones
  • Is homeownership right for you
  • How to plan for homeownership
  • The upfront and ongoing costs of owning a home
  • How a mortgage works
  • The different types of mortgages
  • How to save on your mortgage
  • Choosing a prospective home that’s right for you and your family
  • Picking a home that meets your needs now and in the future
  • The difference between buying a new and pre-owned home
  • How to get great professional help when buying a home
  • The roles and responsibilities of your mortgage broker, real estate agent, home inspector and other professionals
  • What to look for – and avoid – when seeking professional home buying help