"We Help People Learn Critical Life Skills in Financial Management"
We've helped millions of consumers learn critical life skills in financial management yet our satisfaction is tempered by an underlying concern - the rising tide of consumer debt that threatens to overwhelm the welfare and futures of Canadian consumers.
There's been an astounding growth of the credit industry, as well as fundamental shifts in society's values and financial expectations. Rising affluence and rising debt have become almost indistinguishable, as year-over-year consumers embrace higher levels of debt together with lower levels of savings.
Debt repayment is only one important dimension of our work. In the face of the radical social change that has occurred, it is equally important that we all find and pursue every means to educate and inform young people and consumers about the fundamentals of personal financial management and help them to take charge of their finances.
Laurie Campbell on Financial Literacy
Laurie Campbell, CEO of Credit Canada Debt Solutions, shares her perspective on how to promote financial literacy.
"These Lessons are Equally True for Our Own Industry."
If Credit Canada Debt Solutions is to succeed – and it must – then all factions within our industry must work together.
We must finally learn that Credit Counselling Services aren't the debt collection method of last resort. Rather, they can be a compelling force for social change. The education we provide, our media voice, and the Debt Repayment Programs, we change lives and affect consumer values. We work with individuals, but our influence affects social outcomes. We appeal to credit lenders to embrace this truth and to maximize their fair share contributions and cooperation with Credit Counselling Agencies throughout North America. And we look to our own profession to double its commitment to education and advocacy for consumer welfare.
Without a concerted commitment by credit lenders and a texture of viable government policies and legislation, we fear that an increasing number of consumers will succumb to the ravages of debt. Canada's aging population alone may see to this – many seniors are struggling with how to live on a limited income, manage debt, and avoid financial fraud.
To this end, I am pleased to be appointed on July 30, 2014, as one of the 15 committee members of the newly formed National Steering Committee on Financial Literacy. This committee has put seniors at the top of its priority list with a strategy expected to be released this fall. Last year we shared the stories of the individual courage of our clients. Please take the time to read their stories. You will understand why our work is so important.
"I Thank Our Board of Directors for Their Wise Direction and Support."
I also trust the values and the commitment of our staff, and I thank them for their devotion to this work. Together, we have embraced the mantle of leadership in our industry, not through ambition, but through the knowledge that no day can be wasted and no consumer in financial difficulties can be left behind. I also wish to thank our funding supporters in the Credit industry, and I welcome your suggestions as to what else your organization can do to align with our work - for it is this work that will truly secure our collective futures.