Archived - Minister Sorenson Addresses Credit Union Central of Canada

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Reiterates government is on track to balance the budget; highlights importance of financial literacy

October 20, 2014 – Ottawa, Ontario – Department of Finance

Minister of State (Finance) Kevin Sorenson today spoke at the Credit Union Government Relations Forum in Ottawa, where he provided an update on the status of the economy and an overview of the economic agenda of the Harper Government.

Minister Sorenson reiterated the importance of returning to balanced budgets, increasing financial literacy and the shared priority of both the Government and credit unions to strengthen local communities. Minister Sorenson applauded credit unions for their efforts to improve financial literacy and consumer protection. He also took the opportunity to highlight that November is Financial Literacy Month.

Quick Facts

  • The Canadian economy has posted one of the strongest job creation records in the Group of Seven (G-7) over the recovery, with about 1.2 million jobs created since July 2009.
  • As a country, real gross domestic product is significantly above pre-recession levels—the best performance in the G-7.
  • As of the second quarter of 2014, the credit union system outside Quebec has over $165 billion in assets. Desjardins has over $221 billion.
  • November is Financial Literacy Month (FLM). During this time, individuals and organizations are encouraged to either host or take part in activities designed to increase their own or someone else’s financial skills.
  • The FLM calendar of events, available on the Financial Consumer Agency of Canada website, provides Canadians with a list of the financial education activities and events taking place in their city or province and across the country during November.


“As someone who uses credit unions, I know first-hand how they are part of the fabric of communities of all sizes. Credit unions have contributed greatly to improving Canadians’ financial literacy and to the development of innovative products and strong consumer protections. I would like to thank Credit Union Central of Canada for its contributions, and I look forward to continuing to work together on our shared priority of investing in stronger communities and a stronger economy.”

- Kevin Sorenson, Minister of State (Finance)

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Media Contacts

Mark Glendenning
Office of the Minister of State (Finance)

Jack Aubry
Media Relations
Department of Finance

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