Genworth Canada looks to promote financial literacy amongst young Canadians

TORONTO, May 23, 2018 /CNW/ - Genworth Canada is pleased to announce a sponsorship commitment of $100,000 over the next three years to The University of Waterloo School of Accounting and Finance (SAF) to support the growth and awareness of the University of Waterloo Financial Literacy Competition.

The Financial Literacy Competition (FLC) developed in collaboration with Business Studies teachers within the Waterloo Region, is offered to Grade 9 and 10 students. The FLC is an exciting opportunity for secondary school 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.

"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. 

The Genworth Canada sponsorship will help support the extension of the FLC across Canada over the next three years in an effort to bring better understanding and awareness of the importance of financial literacy to young adults. It will also reward and recognize the top scoring students who successfully completed the FLC and assist them with financial support towards post-secondary education.

"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.

Two competitions are planned for this year, with the first contest launching on May 30, 2018 and the second to be scheduled later in the year.  For more details on how to participate, please visit Financial Literacy in the Classroom.

About Genworth MI Canada Inc.

Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial Mortgage Insurance Company Canada ("Genworth Canada"), is the largest private residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Genworth Canada differentiates itself through customer service excellence, innovative processing technology and a robust risk management framework. For more than two decades, Genworth Canada has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system.  As at March 31, 2018, Genworth Canada had $6.8 billion total assets and $4.0 billion total shareholders' equity. Find out more at www.genworth.ca

About the University of Waterloo

University of Waterloo is Canada's top innovation university. With more than 36,000 students, we are home to the world's largest co-operative education system of its kind. Our unmatched entrepreneurial culture, combined with an intensive focus on research, powers one of the top innovation hubs in the world. Find out more at www.uwaterloo.ca

SOURCE Genworth MI Canada