This research paper investigates the association between the patterns of duration, timing and sequencing of exposure to low family income during childhood, and symptoms of mental health problems in...
This report explores consumer financial health, wellness/ stress and resilience for Canadians across a range of financial health indicators, demographics and all provinces excluding Quebec. This report provides topline results from the 2019 Financial Health Index study and three-year trends from...
The study examines consumers’ financial knowledge and confidence levels; financial and money stressors, financial capability aspects and financial management behaviours and practices (across the financial services spectrum). The study also explores external or environmental factors such as income...
Prosper Canada and AFOA Canada are pleased to collaboratively tell the story of The Shared Path: First Nations Financial Wellness. This work was undertaken in the spirit of reconciliation between Indigenous Peoples and non-Indigenous people in Canada and creating a more equitable and inclusive...
This report examines the financial health and vulnerability of households in Canada’s 35 largest cities, using a new composite index of household financial health at the neighbourhood level, the Neighbourhood Financial Health Index or NFHI. The NFHI is designed to shine a light on the dynamics...
Persons with a disability face a higher risk of low income compared to the overall population. This report uses data from the 2014 Longitudinal and International Study of Adults (LISA) to study the relationship between low income and characteristics of people aged 25 to 64 with a disability,...
This report discusses the interactions between finances and mental health, based on the experience of over 5000 individuals who have lived with mental health problems. Mental health problems leading to relationship difficulties, physical health problems, mental health treatments, cognitive...
The Neighbourhood Financial Health Index (NFHI) is a powerful new measure and visualization tool created to help municipalities, community organizations, and residents to explore the different dimensions and distribution of financial health in their community. The first of its kind in Canada, the...
This brief examines Americans’ emergency savings: the resources households use as a first line of defense against the unexpected or to cover regular expenses when income does not suffice. Although emergency savings are only one piece of the stability puzzle, a household’s ability to build, use,...
The economic health of cities and communities depends on the financial health and stability of their residents. Economically secure families are better able to weather temporary income drops independently and are less likely to rely on local services for housing support and cash assistance....
This paper examines small-dollar credit alternatives to the current payday-loan product in the province of Alberta. While we recognize that most people have credit requirements from time to time, the unbanked and underbanked who can least afford to do so are forced to obtain credit under the...
Cornerstone Advisors, in partnership with the Center for Financial Services Innovation (CFSI), produced the following report on strategies for credit unions to attract Gen Y members. The analysis, conducted by Cornerstone Advisors, is based primarily on data from CFSI’s Consumer Financial Health...
Millions of small-dollar credit borrowers are set back by predatory lending practices. There is a critical need for high-quality products designed for both borrower success and lender profitability. This report shares an analysis of practices of 16 installment lenders that have adopted some of the...
With approximately 40 million immigrants residing in this country, comprising nearly 13 percent of the total U.S. population, the opportunity to serve this growing community has never been greater. The prospect of a comprehensive reform of the United States immigration system presents banks, credit...
The Center for Financial Services Innovation is an authority on consumer financial health, leading a network of financial services innovators committed to building better consumer products and practices. The CFSI applied their four Compass Principles (Embrace inclusion, Build trust, Promote...
We can educate consumers and provide access to financial products and services. But how do we help consumers use their knowledge and tools to improve their financial behaviour and become financially healthy? With six stories and thirteen project profiles, Designing for Financial Health, leverages...
As a greater share of modern life is encoded into data streams, Big Data tools can enhance the capabilities of a wide range of financial service companies through machine-learning algorithms that get smarter over time, building stronger predictive models as they gather customers and data points....
This is a webinar on leveraging the tax filing moment as an integrated part of financial capability services. Access to tax filing gives access to income-boosting tax benefits and is especially important for low income households or households experiencing income...