Alterna Financial Inclusion Granting Program 2025 (up to $20,000)

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About Alterna Financial Inclusion Granting Program

Through Alterna's Financial Inclusion Granting Program, organizations can apply for a grant for innovative initiatives that work to address issues of financial inclusion and/or financial education among underserved communities. Emphasis is placed on initiatives that offer opportunities for scale or replication to other communities and partnership with Alterna.

• Sponsor Organisation: Alterna Savings

Benefits of Alterna Financial Inclusion Granting Program

• Grant of up to $20,000 will be provided to support selected initiatives.

Alterna Financial Inclusion Granting Program Requirements

Alterna's Financial Inclusion Granting Program supports:

• Registered charities
• Incorporated nonprofit organizations
• Co-operatives without share capital
• Unincorporated associations are eligible with the sponsorship of an eligible incorporated organization. A letter of support from the incorporated organization is required with the application. Cheque will be issued to the sponsoring incorporated organization. Sponsor organization must submit Articles of Incorporation, Letters Patent, or charitable status. Alterna will only issue cheques to incorporated groups.
• While membership in Alterna is not a requirement for grant funding, preference will be given to member organizations.

Application Date and Process

Completed applications are submitted to [email protected]. A complete application will include the following information:

Step 1: Letter of Inquiry
If your organization has an idea or program that you believe would be a good fit for the Financial Inclusion Granting Program, please submit a maximum 2-page Letter of Inquiry (LOI) detailing the initiative. The letter must include the following information:

• Organization Information (Organization Legal Name, Mailing Address, Email Address, Phone Number, Official Website, Links to Social Media Accounts)
• Applicant Contact Information (Title, First Name, Last Name, Email Address, Phone Number)
• If the individual completing the application is a current Alterna Savings Member.
• Organization Description - Submit proof of charitable status, Articles of Incorporation or Letters Patent
along with LOI)

• Registered Charity (CRA #, RR #)
• Incorporated nonprofit
• Co-operative without share capital
• Unincorporated association with sponsorship/letter of support by an incorporated organization

▪ Alterna Savings will only provide grants to incorporated groups. Unincorporated groups must be sponsored by an incorporated organization. Please include letter of support from an incorporated organization along with your application. Cheque will be issued to the sponsoring incorporated organization. Sponsor organization must submit Articles of Incorporation, Letters Patent, or charitable status.
• Details of grant request

• Project/program name
• Start and end date (if applicable) o Amount requested
• Project/program budget
• Outline how/if program were to run if the organization did not receive the full grant requested amount
• Details of any other significant funders of the organization/project/program
• Impact region
• Brief description of the grant request including the community and financial education need that it addresses and details of the intended beneficiaries

Step 2: Request for Proposal
Alterna’s Community Impact Department will review all LOIs and invite a limited number of organizations to submit full Proposals for funding.

Step 3: Proposal Submission
Alterna will only consider Proposals from organizations that have been invited to submit a full Proposal based on their previously submitted LOI.
In addition to expanding in detail on the content requested for the LOI submission, organizations will be asked to elaborate on the following topics in the Proposal:
• Any additional information for the benefit of the Financial Inclusion Granting Program Committee. Organizations may include any supporting information they deem relevant.
• What opportunities exist, if any, for Alterna Savings to be represented, collaborate, or have Alterna employees volunteer with your organization?
• Outline the opportunities for program replication and/or impact to additional regions (if any).
• Outline the partnership opportunities with Alterna Savings that you believe would allow for relationship fostering and longevity.

Step 4: Application Review
Received Proposals will be reviewed by an internal Committee of Alterna employees. Proposals will be evaluated on several criteria including potential for replication or scale of the initiative, impact, and measurable results.

Step 5: Grant Approval
Alterna will inform all applicants as to the status of their applications in advance of recipient announcements. Successful applications will be announced throughout Financial Literacy Month in November on Alterna platforms.

Cheques are disbursed to Financial Inclusion Granting Program recipient organization(s) throughout Financial Literacy Month in November. Please ensure that your organization’s application outlines the intended use and timeline for your proposed program. Funds must be used by the organization that is applying for the granting stream*.
*For unincorporated associations, cheque will be issued to sponsoring incorporated organization.

If you have any questions, please contact [email protected]. For more information, download the Application Guidelines.

Application Deadline

30 May, 2025

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