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Headline Details Almost 1 in 3 Canadians face challenges because of bank branch closures.

Why is this important?

Branch closures can create difficulties for Canadians, especially for those who are unable to manage their finances online due to limited digital access.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.

Related priorities

This headline relates to the following National Financial Literacy Strategy priorities and target outcomes:  

Priority 3

Support increased digital access and digital literacy

  • Target outcome 3.3
Related findings
Finding

From 2020 to 2021, 30% of Canadians faced challenges as a result of branch closures, including challenges that could potentially have been avoided if they had had means to manage their finances online (e.g., depositing cheques, accessing funds).

Initiative: Survey of Canadians' Use of Banking Products and Services

Adopter: Financial Consumer Agency of Canada

The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

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