Cashco Financial unveils annual Pathway Report #CanadaFinance

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Canadians are struggling with the cost of living and access to credit more than ever. Alberta-based Cashco Financial understands the squeeze all too well, having serviced financially distressed Canadians for more than twenty years.

Statistics show that approximately five million Canadians are underbanked, meaning they don’t have access to the tools they need to make themselves financially secure. This is a demographic for whom traditional banking services. While all Canadians are struggling, it’s this historically marginalized segment that’s having the hardest time weathering the current affordability crisis.

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Recognizing this gap, Cashco Financial has made it their purpose to bring radical change to the small-dollar loans industry through a more holistic — and empathetic — approach to lending money.

Money is the key to everyday essentials, and unlocking a client’s access to their daily needs has been top of mind for Cashco as the company has sought innovative solutions to meeting the needs of the financially excluded. The fruit of this push is an exciting pair of new product offerings, including an earned-wage-access mobile app and tax support for Cashco clients. Solutions like these are helping those struggling to manage their daily financial needs and create financial security; many for the first time.

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The organizations recently released Pathway Report builds on its purpose: to put one million Canadians on a path to financial health. The report shows that in the last year, Cashco extended $110 million dollars in credit to underbanked segments of the population and added more than 11,000 new clients. Clearly, Cashco is filling a gap for many Canadians currently feeling the pinch.

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The Pathway Report isn’t just a highlight reel of the opportunities it was able to provide Canadians in 2023, either — rather, it demonstrates Cashco’s devotion to building a brighter future for those in financial distress.

“Our Pathway Report is an opportunity for us to demonstrate our commitment to closing financial gaps, sharing our purpose for the future, and showcasing the positive impact we’re making in communities across Canada,” said Tim Latimer, Founder of Cashco Financial.

With a unique product offering, a customer-first approach to business, and a commitment to financial education, Cashco Financial is a company making a difference in the lives of Canadians on the periphery of the financial industry.

Despite the progress made, Cashco believes that much more needs to be done to address the needs of the financially disadvantaged. The Pathway Report shines a light on those being overlooked by the current system and encourages all Canadians to find out more about how they can help break the stigma facing the underbanked.

To see the full Pathway Report, visit: cashcoforchange.com

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About Cashco Financial:
Cashco Financial is committed to providing financial tools and services tailored to the needs of the underbanked. Offering both long-term and short-term personal loans, as well as cheque-cashing services, Cashco operates over fifty branches nationwide and delivers innovative online solutions for remote support.

Beyond financial products, Cashco provides clients with essential tools to manage their household finances through budgeting assistance, financial literacy resources, and on-site Financial Health Advisors.

We invite all Canadians to explore the 2023 Pathway Report, engage with our commitment to financial transparency, and join the conversation.

This story was provided by Cashco Financial for commercial purposes.

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