This post is sponsored by DUCA. All views and viewpoints expressed express my personal.
If thereвЂ™s one thing We hate, it is organizations whom make use of individuals who have trouble with their funds. We specially hate businesses who brand themselves as monetary services organizations when they’re really and truly just loan sharks attempting to sell high-interest loans to individuals who think they will have no other options. You may keep in mind my movie out of this summer time whenever I was surprised to note that Money Mart had added вЂњFinancial ServicesвЂќ to their signage.
The stark reality is, even though IвЂ™ve never ever been in times where IвЂ™ve been refused credit from the lender that is traditional lots of people are such as for example brand brand new Canadians and social entrepreneurs. Therefore, where do they’re going if they have to take a loan out? Where else? Those payday that is dodgy businesses whom could charge up to $15 for borrowing only a $100 for 14 days (the most price permissible for legal reasons).
While using the advancements in economic technology and monetary literacy, that isnвЂ™t sufficient. There are many flaws that are major the monetary solutions industry that seriously should be addressed.
ThatвЂ™s why IвЂ™m teaming up with DUCA Credit Union to advertise their brand new initiative that just launched this month вЂ” DUCA Impact Lab.