Above: Linda Noto and James Grosskopf (of Westoba Credit Union) instructing during an Each One, Teach One event.
Each One, Teach One
Vancouver-based Vancity Credit Union launched Each One, Teach One (EOTO) in 2008 with the goal of enhancing financial literacy in the community — no strings attached. The program embodies one of the seven international co-operative principles, Concern for Community.
EOTO has since been adopted by credit unions nationwide, and none with more enthusiasm than Manitoba credit unions.
“EOTO is about empowering staff to take the message of financial literacy out to people who need it the most, in our own words, in a format people will enjoy,” says Adam Monteith, VP of Marketing at Access Credit Union. “We train internal staff to take a message that’s completely independent, completely not attached to sales, completely not ‘Access’, out into the community and teach what they know. There’s no pitch whatsoever.”
Access initially sent two staff members for training in EOTO. Once training was complete, the newly certified instructors were so passionate about the program that interest within the credit union skyrocketed.
“Our goal was to train about 10% of our staff and we have hit that mark. They enjoy teaching, they enjoy being out in the community — you see it every day. We still have a lineup of staff who want to participate.”
Access gets a lot of positive feedback about the program. Many new Canadians, and vulnerable members of the community, have used their new knowledge to gain independence and take ownership of their finances.
“People who have greater knowledge about finances, greater knowledge about money coming in and out, and greater confidence in managing their finances, make better financial decisions. Better financial decisions benefit the community as a whole,” Monteith says. “Whether that’s stronger sustainable populations, whether that’s a reduction in crime, it’s a huge leap in how a community develops.”
Better financial literacy also reduces the likelihood of people being victimized by fraud, he adds.
Linda Noto and James Grosskopf of Westoba Credit Union received their instructor training in 2018 and started conducting workshops in the Brandon area in the fall of 2019. They work with new Canadians, while some of their co-workers work with different groups, like students and seniors, around the community.
EOTO has since been adopted by credit unions nationwide, and none with more enthusiasm than Manitoba credit unions.
“EOTO is about empowering staff to take the message of financial literacy out to people who need it the most, in our own words, in a format people will enjoy,” says Adam Monteith, VP of Marketing at Access Credit Union. “We train internal staff to take a message that’s completely independent, completely not attached to sales, completely not ‘Access’, out into the community and teach what they know. There’s no pitch whatsoever.”
Access initially sent two staff members for training in EOTO. Once training was complete, the newly certified instructors were so passionate about the program that interest within the credit union skyrocketed.
“Our goal was to train about 10% of our staff and we have hit that mark. They enjoy teaching, they enjoy being out in the community — you see it every day. We still have a lineup of staff who want to participate.”
Access gets a lot of positive feedback about the program. Many new Canadians, and vulnerable members of the community, have used their new knowledge to gain independence and take ownership of their finances.
“People who have greater knowledge about finances, greater knowledge about money coming in and out, and greater confidence in managing their finances, make better financial decisions. Better financial decisions benefit the community as a whole,” Monteith says. “Whether that’s stronger sustainable populations, whether that’s a reduction in crime, it’s a huge leap in how a community develops.”
Better financial literacy also reduces the likelihood of people being victimized by fraud, he adds.
Linda Noto and James Grosskopf of Westoba Credit Union received their instructor training in 2018 and started conducting workshops in the Brandon area in the fall of 2019. They work with new Canadians, while some of their co-workers work with different groups, like students and seniors, around the community.
“Financial literacy is in big demand in the community... it isn’t really taught enough in schools and most people assume everyone knows how to use money.”
It’s a great way to expose staff to the community, while providing knowledge to people who want and need it,” says Noto. “I’ve already participated in nine sessions with new immigrants to Canada in need of assistance with basic knowledge of banking, budgeting, fraud, and income tax returns.”
Grosskopf says part of the reward in teaching EOTO classes is seeing the students take a real interest in the material.
“Doing the workshops, you can genuinely see the audience is engaged and they are learning something new. They are actively taking notes and asking great questions,” he says. “It’s especially refreshing to see the same people return when we offer sessions they haven’t been to. It proves they’re finding value in the information we share.”
Grosskopf says part of the reward in teaching EOTO classes is seeing the students take a real interest in the material.
“Doing the workshops, you can genuinely see the audience is engaged and they are learning something new. They are actively taking notes and asking great questions,” he says. “It’s especially refreshing to see the same people return when we offer sessions they haven’t been to. It proves they’re finding value in the information we share.”
“I have seen the credit union difference at work and I’ve contributed to improving people’s lives.”
Noto and Grosskopf give a lot of credit to Westoba for supporting their EOTO work.
“The credit union provided me with the time to take the training and are now flexible with regards to the time it takes to deliver the workshops,” says Noto.
In addition to supporting the program and the staff who deliver it, Westoba promotes the sessions on its website and social media channels.
An immigrant himself, Grosskopf is grateful to Westoba for the opportunity to give back to his community. “I have seen the credit union difference at work and I’ve contributed to improving people’s lives.”
Jane Smith is an Outreach Counsellor at Genesis House, a shelter for abused women and their children in Winkler. Part of the shelter’s mandate is to provide empowerment, resources, assistance, safety, education and support for the women they help. Smith has worked with Access Credit Union for three years to provide Springing into Financial Literacy every April — a four-week EOTO program.
The impact, she says, has been invaluable.
“I had one client call her lender and explain her change of situation and renegotiate the terms of her mortgage, thus avoiding foreclosure. Another woman became proactive in finding out about her finances and her credit score. She realized that knowing her financial situation gave her an opportunity to change it,” Smith says.
“Finances can be an uncomfortable conversation to have. Our clients are often struggling with making ends meet, debt, and bad credit history. This program gives them the tools to accomplish their financial goals, and the hope that they can make a change.”
“The credit union provided me with the time to take the training and are now flexible with regards to the time it takes to deliver the workshops,” says Noto.
In addition to supporting the program and the staff who deliver it, Westoba promotes the sessions on its website and social media channels.
An immigrant himself, Grosskopf is grateful to Westoba for the opportunity to give back to his community. “I have seen the credit union difference at work and I’ve contributed to improving people’s lives.”
Jane Smith is an Outreach Counsellor at Genesis House, a shelter for abused women and their children in Winkler. Part of the shelter’s mandate is to provide empowerment, resources, assistance, safety, education and support for the women they help. Smith has worked with Access Credit Union for three years to provide Springing into Financial Literacy every April — a four-week EOTO program.
The impact, she says, has been invaluable.
“I had one client call her lender and explain her change of situation and renegotiate the terms of her mortgage, thus avoiding foreclosure. Another woman became proactive in finding out about her finances and her credit score. She realized that knowing her financial situation gave her an opportunity to change it,” Smith says.
“Finances can be an uncomfortable conversation to have. Our clients are often struggling with making ends meet, debt, and bad credit history. This program gives them the tools to accomplish their financial goals, and the hope that they can make a change.”