Financial Literacy and Justice

The Globe and Mail: In a cashless world, society’s most vulnerable are being left behind

In Canada, 3 per cent of the population – about one million people – are “unbanked,” meaning they do not have a relationship with a mainstream financial institution, according to a 2016 report by Acorn Canada and the Canadian Centre for Policy Alternatives. 

A further 15 per cent – or roughly five million Canadians – are what the report calls “underbanked,” people with a bank account but no credit, people unable to afford fees or high interest rates linked to products for low-income borrowers or those who live in a neighbourhood that does not have a bank branch. 

Donna Borden, spokeswoman for Acorn’s Fair Banking campaign, says these people are often seniors, people on disability benefits, newcomers and people with mental-health issues, as well as those without a permanent address or government identification. For street-involved people who do have a bank account, holding onto the cards necessary to access money can be difficult. 

Montreal Sud-Ouest ACORN Members Demand Affordable Public Transit and Internet Access * Les membres de Sud-Ouest ACORN réclament des transports en commun et l’accès internet à prix abordables

Montreal ACORN

On Thursday March 15, 2018, a delegation of Montreal Sud-Ouest ACORN members delivered a letter to City Councilor Craig Sauvé at his office on Rue Bel-Air. // Jeudi 15 mars 2018, une délégation de membres de Montréal Sud-Ouest ACORN a livré une lettre au conseiller municipal Craig Sauvé dans ses bureaux de la Rue Bel-Air.

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