The findings of a recent study have spurred a group of credit unions to call on banks and other financial institutions to do more to help Canadians and their families save and grow their money.
Sixty per cent of Canadians state that their current level of debt does not allow them to save as much as they would like, with 31 per cent of Canadians unable to save any money at all the study found.
The poll was carried out by Ispos Reid on behalf of a number of Credit Union Atlantic in Nova Scotia, Innovation in Saskatchewan, and Coast Capital, Prospera and Sunshine Coast in B.C.
The credit unions' study looking at the financial behaviors of Canadians, finds that while more than 68 per cent of Canadians believe the income earners in their household exhibit good savings habits, this doesn't necessarily mean that they can find ways to save each month. In fact, half of Canadians are unable to put money into a savings account each month.
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