Canada Post has officially launched a new loan program through a partnership with TD Bank
Group (TD).
The Ottawa-based Crown Corporation says the loan program is designed to provide more
financial options for Canadians, notably in rural, remote, and northern communities.
Canada Post’s loan program, called “MyMoney,” will see Canada Post employees’ direct
customers on how to apply for the loans either online or by telephone.
TD Bank will support the program through the loan application and funding processes.
Canada Post has been ramping up the loan program nationally in recent weeks. The personal
loans start at $1,000 and have flexible repayment terms at current TD interest rates.
Canada Post sees financial services as a way to diversify its business as its mail service
continues to decline with the growth of online transactions and communications.
TD Bank Group’s stock is down 19% this year and trading at $80.83 per share.