May 5, 2025
Toronto, ON, May 5, 2025 - More and more Canadians are falling behind financially. The cost of living remains high, and economic uncertainty is on the rise, squeezing household budgets and leaving many searching for solutions. One powerful partnership is helping them take control and find a way forward.
Credit Canada, the country’s first and longest-standing non-profit credit counselling agency, is adding additional cohorts of its innovative financial coaching program, Credit Canada GOLD, thanks to the increased financial support from Capital One Canada.
Credit Canada GOLD is a six-week virtual financial coaching program that combines behavioural science, personal insight, and peer support to create lasting change. Participants are paired with accountability partners, supported by professional coaches, and guided through a journey that helps them shift not just their debt balances, but their mindset.
Since launching in 2022, the program has helped hundreds of Canadians eliminate over $1 million in consumer debt, increase their credit scores by up to 140 points, and develop the financial skills and confidence to move forward. Every participant who is accepted into the program receives a full scholarship, thanks to Capital One Canada’s generous support.
The economic climate has made this kind of support more urgent than ever. According to recent data*, consumer debt levels are hitting historic highs, and more than half of Canadians report they’re living paycheque to paycheque**.
"As a mission-led business, we’re passionate about supporting our communities and helping Canadians succeed with credit," says Asa Harrington, President of Capital One Canada. "By supporting Credit Canada's impactful work, we're helping participants not only increase their capability to manage their finances, but also reduce their debt."
Participants like Yasmin describe the experience as transformative:
“I no longer feel lost and alone. I’ve started to track my spending, change my habits, and finally feel in control. I’ve learned more in six weeks about my relationship with money than in 30-plus years.”
Credit Canada and Capital One Canada have a longstanding relationship dating back to 2006, when Capital One became a founding sponsor of Credit Education Week. Today, that shared commitment to financial empowerment continues through their support of programs like Credit Canada GOLD.
Together, they are helping more Canadians navigate today’s economic challenges and build brighter, more stable financial futures.
Applications for Credit Canada GOLD are now open. Visit www.creditcanada.com/gold to learn more.
To book an interview with Credit Canada CEO Bruce Sellery or Financial Coaching and Education Manager Becky Western-Macfadyen, please contact Madeleine Jay at mjay@creditcanada.com or (416)716-3744.
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About Credit Canada
Credit Canada is a non-profit organization dedicated to helping Canadians overcome their financial challenges and achieve their financial goals. With over 50 years of experience, Credit Canada provides a wide range of services, including credit counselling, debt management, and financial education.
About Capital One Canada
With a corporate office in downtown Toronto, Capital One has been offering Canadian consumers a range of competitive Mastercard credit cards since 1996. Capital One Canada challenges themselves to see the world through the eyes of their customers, to deliver the market-leading credit products and exceptional service they’re looking for. Capital One Canada is a division of Capital One Bank, a subsidiary of Capital One
Financial Corporation of McLean, Virginia (NYSE:COF). Visit capitalone.ca to learn more.
Press Kit includes bio and headshots for Bruce Sellery, Credit Canada CEO and Becky Western-Macfadyen, Credit Canada Financial Coaching and Education Manager.
Website: www.creditcanada.com
Facebook: @creditcanada
Instagram: @creditcanada
X (Twitter): @creditcanada
Contact:
Madeleine Jay
Marketing Coordinator
Credit Canada
mjay@creditcanada.com
(416)716-3744
* TransUnion, Q4 2024 Credit Industry Insights
** ADP Research, People at Work 2025