Matthew Seagrim, chief digital, and marketing officer at Meridian, said, “Our More Than a Number study goes beyond the confines of traditional surveys to give Canadians an opportunity to express their financial outlook in their own words.”
The study revealed that Canadians are looking for a more personal relationship with their financial institutions as they navigate a difficult economy.
The survey also showed that while 74 percent of Canadians are aware that credit unions offer similar services to banks, 52 percent do not currently use a credit union. However, 28 percent expressed interest in learning more about credit unions.
Credit unions like Meridian use a co-operative model, prioritizing people over profits and offering a more personalized and member-focused approach, which appeals to Canadians dissatisfied with impersonal services from traditional banks.
Financial stress continues to affect Canadians, despite the easing of interest rates. In Ontario, 62 percent of respondents said that rising costs are making their lifestyle unaffordable, compared to 53 percent in other provinces.