Financial Empowerment Program to Replace Banking on Youth
As we continuously evaluate and improve our efforts with the goal of poverty reduction, Vibrant Abbotsford is enhancing our program formerly known as Banking on Youth. Beginning Fall 2016, Vibrant Abbotsford will host the Financial Empowerment (FE) Program. The FE projects offered for Fall 2016 - June 2017 will be Matched Savings and Financial Literacy.
The Financial Literacy program will launch in early 2017 in partnership with Vancity. This project is entirely separate from Matched Savings. More details to come.
Matched Savings Project
The Matched Savings project will run January through June and serve foster youth aged out of care between the ages of 19 - 24. In its third year, this project is funded by Coast Capital Savings.
Living wage is the minimum income required for a family to meet basic needs without income subsidies. However, many workers earn less than the Fraser Valley Living Wage, leaving them struggling to create safe home environments, maintain decent standards of living, and participate fully in their communities. This project generates awareness and encourages public and private sector businesses to become living wage employers. It is based on the principle that people who work full-time should never live in poverty.