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TIES Helps Hundreds of Calgarians Become Money Smart

September 2, 2025

News

It’s a constant struggle. One, millions of Canadians face — each-and-every month.

From overspending to under saving, being “money smart” is tough for many born and raised here.

Now, imagine being a newcomer and being new to Canada’s banking and financial system.

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“It’s very stressful,” Noha El Tanahi says.

“They come from different countries, with different financial systems. It might be very different from country to country.”

El Tanahi is the manager of Settlement & Financial Literacy at TIES (The Immigrant Education Society).

Her MoneySMART team recently hosted a free Family Resource & Financial Literacy Fair at the Wingfield Golf Club in Calgary.

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In attendance: representatives from major banks and credit unions, along with government and community support agencies.

The goal: to have a centralized and most importantly a trusted resource base for newcomers.

“To have a one-stop shop for them (clients) to connect and navigate the financial system. Ask the questions to the right people and get the right information from the right resources,” El Tanahi points out.

“ So, when they leave here, they are confident and have a good idea how to make their next financial decision.”

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Navigating the System

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Viktoriia Kuchuruk is one of the 250 new and/or vulnerable Calgarians who attended the fair.

Kuchuruk, who arrived a few years ago from Ukraine, says safety was always her priority — not saving or investing money.

“In the future I want to save money,” Kuchuruk says. “In Ukraine I never do this and know about this.”

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Abale Mustafa is also interested in saving money for his future.

“When people come to Canada, they don’t know how to save money,” the newcomer says.

“I would like to save money to go to university.”

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Community Connections

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TIES was joined by a total of seven financial institutions (TD, CIBC, RBC, BMO, Scotiabank, ATB Financial, Servus Credit Union).

All on hand to help these newcomers save and invest wisely.

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“I have been humbled,” Karen Toor says. “I've been humbled by the talent that was in this room.”

Toor is a mobile mortgage manager with Servus Credit Union. She’s also a volunteer with the TIES Board of Directors.

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She points out the people seeking help are not always those without an education — financial or otherwise.

She adds the event was able to connect her with doctors, lawyers and other professionals who simply don’t know how to navigate Canada’s systems.

“Just being part of that experience and the the energy here has been really wonderful,” she says.

“There was a lot of hope in this room.”

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Connecting the Community

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The fair also featured representatives from Service Canada, AIMGA (Alberta International Medical Graduate Association), ASC (Alberta Securities Commission), Utilities Consumer Advocate and ENMAX.

“We are very fortunate to have them all in one place,” El Tanahi says. “It’s really accessible.”

TIES has multiple financial literacy events throughout the year and plans to make this fair an annual event.

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Immigrants especially at risk

According to a number of reports compiled by TIES Centre for Immigrant Research (CIR), financial well-being is central to newcomers’ successful settlement in Canada — yet many face barriers.

According to a survey done on behalf of TD this year:

38% of newcomers reported little to no understanding of the Canadian banking system and how to manage their money

51% of newcomers reported little to no understanding about investing money in Canada

41% of newcomers reported little to no understanding of the state of the Canadian economy

Those numbers, understandably, lead to financial hardship according to many other surveys.

55% of newcomers reported difficulties in managing their finances since arriving in Canada (for TD Bank, 2025)

54% of newcomers cite financial stress as their primary challenge to well-being (Securian Canada, 2025)

43% of recent immigrants reported finding it difficult or very difficult to meet their financial needs in the past 12 months (Statistics Canada, 2024)

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