Genworth Canada will sponsor the University of Waterloo School of Accounting of Finance’s promotion of its Waterloo Financial Literacy Competition.
The mortgage insurer has committed to $100,000 over the next three years to help the university grow and promote awareness of the competition which is offered to Grade 9 and 10 students.
The competition enables teachers to engage their students to test and challenge their knowledge in personal finance, accounting and wealth management, as well as providing a solid literacy foundation to prepare them for the future.
"Genworth is committed to promoting financial literacy amongst young Canadians. As a company that supports the health of the housing market, education is key to responsible homeownership. We need to ensure our younger generation is equipped with the knowledge to help them become financially stable into adulthood. The Financial Literacy Competition is a great catalyst to spread the information in an interesting and interactive way," said Stuart Levings, President and CEO of Genworth Canada.
The sponsorship will enable the expansion of the competition across Canada and will also be used to reward the best-performing students to help fund their post-secondary education.
"Basic financial skills are a critical building block in every person's education. Integrating financial skills development throughout the curriculum ensures that students will have the knowledge to make effective decisions throughout their lives," said James Barnett, SAF Interim Director.