Improve customer relations, increase business and improve workforce productivity.
Financial institutions, employers and EAPs and benefit providers partner with KOFE because our financial tools and services give them an edge. No other provider combines financial coaching and education in such a seamless format.
Clients will receive valuable lessons on financial issues that enlighten them and make them more responsible with their money. With this education, they are more likely to become better candidates for loans, credit cards and investments.
Employers and EAPs
Once employees receive the financial knowledge, services and personal help they desire, they can focus on their job. This increases productivity and lowers absenteeism rates. Don’t let their stressful financial issues hurt your bottom line. Get them the assistance they need.
Team with KOFE and become the benefit provider that offers financial education products and personal coaching. When employees become distracted by financial issues, they don’t perform at their optimal level. That prevents your client’s business from achieving peak production. You can make a difference with KOFE.
There is no guessing or confusion. KOFE presents their educational products online or in person. Employees, customers and clients alike become better money managers because our efficient, dynamic and helpful resources are at their disposal.
The bottom line is: KOFE benefits the people you’re trying to reach. And your bottom line will benefit as well. Contact KOFE today.
Financial hardship is the number one reason for low productivity and absenteeism at work, see the cost.
Being embarrassed about my financial situation, I was nervous but I’ve been treated in a very pleasant, respectful manner and was quickly put me at ease. They were very knowledgeable about helping me solve my financial problems and explained things clearly giving me many suggestions as to how to deal with this issue. I am looking forward to implementing some of their suggestions and solving my financial issues. Thank You!
I’m so happy that I came to talk to one of your representatives! They explained how I can get out of my debts. Now I have less worries and looking forward to a better future. I am certainly going to recommend this to my family, friends and co-workers. Thank you.
I turned to Consolidated Credit Counseling Services of Canada when I knew I couldn't dig myself out of my debt on my own. I was rejected by the bank for a consolidated debt loan and was feeling helpless. Because of Consolidated, I’ve managed to gain control of my debt and pay it off in a realistic time frame. I am so appreciative of them!
You helped me when no one else would! I’ve managed to move forward in dealing with my credit issues. Consolidated Credit was quick to help me deal with my creditors which lifted a huge load off my shoulders. All I can say is thank you consolidated credit!
The counsellors I’ve worked with have been very understanding and helpful. There’s no judgement but an intention to help us get back to zero debt.
Making the call to start the process to get back on my own feet was not just financially helpful but helped my mental health as well because I was always stressed! Now I have control again, sleep better and I’m moving forward. Everyone has been supportive, kind and helpful.
Consumer Debt and Financial Literacy Statistics for Canadian Households
Canadians now owe $1.83 for every $1 they have to spend in disposable income. The amount of credit in use increased by 7.9% to a total of $2.29 trillion among 27.9 million Canadian consumers.
The average Canadian consumer now owes about $21,188 in non-mortgage debt. Non-mortgage debt had decreased during the pandemic; however, this stat marks a return to pre-pandemic debt levels.
Inflation was a major news story in 2022 and peaked to a 40-year high, 8.1%. By the end of 2022, the price of consumer goods and services rose by 6.8% while worker wages only rose by 5.1%. This means the money in Canadian pockets lost purchasing power.
Only two-thirds (66%) of Canadian households are spending less than or equal to their monthly income. Compared to 78% in 2020, it is clear that more households are struggling to make ends meet.
63% of Canadians say that their financial behaviours from years past have negatively impacted their current financial confidence. In the past, they wished they had avoided overspending and credit card debt, invested at a younger age, and asked more financial questions.
50% of Canadian households who reported an increase in their debt said it was because of COVID-19.
Nearly half of Canadians are only $200 or less away from not being able to meet their monthly financial obligations.
58% of Canadians said their level of stress increased over the past 12 months while over one-third (38%) believe finances control their life.
Less than half of Canadians describe themselves as financially knowledgeable.
84% of employees are interested in their workplace offering financial education programs.
About 25% of Canadians now work either exclusively or partially from home compared to just 7.5% in 2016. Hybrid work arrangements have steadily increased since the beginning of 2022.
Study shows that nearly half of all financially stressed employees admit to spending at least 3 hours per week on their financial issues at work.