391 –  Canada Post MyMoney Loan – Good Replacement for Payday Loans?

391 – Canada Post MyMoney Loan – Good Replacement for Payday Loans?

Author: Doug Hoyes February 26, 2022 Duration: 30:36

Because there aren't already enough lenders out there, Canada Post has now also come out with their own loan called the 'MyMoney Loan,' partnering with TD Bank. It's a strategic alliance, aimed at Canadians in rural, remote, and Indigenous communities. But, this Canada Post loan is not so cheap. While it's more affordable than a payday loan, is it really a viable option for Canadians who can't easily access a traditional bank? Find out on today's podcast with host Doug Hoyes and guests Rebecca Martyn, LIT, Jennifer Kwon, LIT, Maureen Parent, LIT, and with a special appearance by Tom Cooper from the Hamilton Roundtable for Poverty Reduction.

 

Related Links:

Canada Post Press Release https://www.newswire.ca/news-releases/canada-post-and-td-enter-strategic-alliance-to-expand-access-to-financial-services-for-canadians-861926361.html

Canada Post My Money Loan https://www.canadapost-postescanada.ca/cpc/en/personal/mymoney/loan.page

Canada Post 2020 Annual Report https://www.canadapost-postescanada.ca/cpc/doc/en/aboutus/financialreports/2020-annual-financial-report.pdf

Canada Post 2021 Quarterly Reports https://www.canadapost-postescanada.ca/cpc/en/our-company/about-us/financial-reports/quarterly-financial-reports.page?

DFI30 Episode 145 Poverty Reduction: What Can We Do? With Tom Cooper  https://www.youtube.com/watch?v=juYQjuP0g9w

Hamilton Roundtable for Poverty Reduction https://hamiltonpoverty.ca


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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