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Missing for those who need it most: Canada's financial help gap

21 June 2023

Our new report, created with support from Co-operators shows that access to relevant, high-quality financial help and advice is associated with greater financial health and resilience, but not all Canadians have access to the financial help and advice they need. Canadians with low incomes are frequently unable to access the types of help they need to build their financial capability, maximize their incomes, tackle urgent financial problems, and set and pursue financial goals.

Over the past year, Prosper Canada has been working with stakeholders from the financial sector, the federal government and community organizations to better understand the financial help services on offer to people with low incomes. We found that, while people with low incomes are increasingly financially vulnerable, they lack access to the help they need to rebuild their financial health. 

Our next step is to work on developing solutions to close the financial help gap. In the coming months, we will be working with multisectoral stakeholders from across the financial services landscape to propose ways in which the private sector, government and community organizations can ensure that all Canadians can access the financial help they need, regardless of their income. 

Read the full report
Read the executive summary