Canada Post announced that the Corporation and its financial partner, TD Bank, have “decided to pause the MyMoney Loan application indefinitely.”
The announcement is extremely troubling, and the past several months have been frustrating, with the temporary pause and now a decommissioned loan product.
The Union entered into an agreement with Canada Post, under Appendix T, which supported the launch of Financial Services (FS) in good faith. Our relationship with the Corporation on this file has fractured, but our commitment to a rollout of future financial services has not.
We say scrap the TD Bank, make way for Postal Banking services that suit the needs of Canadians. We demand a way forward for full postal banking services and if a partnership is necessary to get one off the ground, then the Corporation should work with a Credit Union. We cannot let CPC take their foot off the gas or wait around for the TD Bank to provide access to these services.