As part of our partnership with the Canadian Press, we have published our third feature article which highlights how credit unions are helping younger Canadians build financial confidence and achieve their goals.

Thank you to Kindred Credit Union, Tru Cooperative Bank, and Coast Capital for sharing their initiatives and contributing to this important reputational piece.

Read the article here: Credit unions help young people build a stronger future

Source: Oct. 1, 2026

Credit unions help young people build a stronger future

For many young Canadians, achieving financial independence isn’t easy—especially in today’s economic climate. Having access to trusted advice and practical support can make a meaningful difference.

That’s why many are turning to credit unions, whose co-operative model puts members first, builds long-term relationships and strengthens the communities they serve.

Smart money management

Building financial independence means making important decisions about money, but figuring out where to start can be challenging. Add student debt, rising costs and a competitive job market to the mix, and those decisions can be even more challenging.

“For young people right now, there is a real cost-of-living challenge. Many are graduating with debt, and they’re trying to get on their feet and find an affordable place to live,” says Laura Keller, communications specialist at Kindred Credit Union, based in Kitchener, Ont. “That’s where a credit union comes in.”

Keller is seeing more young Canadians turning to credit unions, drawn in part by a model that puts people at the centre. “They see a more personalized, human side to financial advice, where they can talk to an advisor who will get to know them and have only their best interests and goals in mind.”

Keller has seen this firsthand with her daughter, Hannah. After graduating from university and finding a full-time job, Hannah was putting money aside but was reluctant to have it simply sit in a chequing account. Keller suggested she speak to an advisor at Kindred.

Working with Hannah, the advisor reviewed her financial picture, discussed her short- and long-term goals, identified investment options and created a plan. Hannah opened a First Home Savings Account and a Tax-Free Savings Account, while keeping separate savings for travel. That was four years ago. Hannah has since taken annual trips abroad and—though she hasn’t yet bought a home—has built enough financial security to move out on her own.

“Young people have a lot of concerns, but they’re a smart generation and they want to make thoughtful decisions,” says Keller. “Credit unions are well-positioned to help them do that.”

Building financial confidence

Financial literacy is another way credit unions are helping young Canadians build the skills and confidence they need to manage money effectively. Many credit unions run free financial literacy workshops in their communities through the Each One, Teach One program, managed by the Canadian Credit Union Association.

“Financial literacy is a foundational life skill and a key driver of long-term success,” says Tracy Fortino, director of sustainment at Tru Cooperative Bank, based in Langley, B.C. “We know that many Canadians go into adulthood without the financial knowledge they need to feel confident managing their money and planning for the future.”

Fortino points to research showing that 64% of Canadians say they did not receive financial education in school, while 84% say earlier financial education would have made managing their money less stressful.

One way Tru Cooperative Bank addresses that gap is by helping make financial education accessible and practical for younger members. The organization partners with ChatterHigh, a free, gamified “research and learn” platform that supports financial literacy and career readiness.

“ChatterHigh specifically addresses the need for accessible, engaging and relevant financial education on a platform that is accessible by the younger population,” says Fortino.

At Tru Cooperative Bank, financial education is also paired with real-life lessons through its partnership with Launch Okanagan. A registered charity, Launch Okanagan provides free financial coaching and education for young adults. As part of its Matched Savings program, participants build savings toward goals such as education, starting a business or financial stability.

“Launch Okanagan takes that step beyond knowledge and awareness and puts it into action,” says Fortino.

Banking with purpose

Young Canadians are increasingly choosing to build relationships with organizations that demonstrate a commitment to social impact, community well-being and responsible business practices. Credit unions, founded on these principles, are a natural, values-aligned alternative to big banks.

Coast Capital is part of the Coast Capital Savings Federal Credit Union family of brands, Canada’s largest national, purpose-driven credit union. “Purpose is at the core of our organization, and it defines why we exist,” says Maureen Young, vice president of social purpose & community investment.

At Coast Capital, the focus is on improving the financial health and resilience of its members and the communities it serves. For example, since 2000, Coast Capital has reinvested over $112 million back into the communities it serves, collaborating with local partners to support programs aligned to their “purpose levers” of accessible education, equitable employment and inclusive finance. In addition, it delivered more than 150 financial education seminars over the last year, reaching nearly 1,500 people and businesses in Canada. The organization is also a Certified B Corp, a global movement advocating for a more inclusive, equitable and regenerative economic system.

For younger Canadians in particular, Coast Capital’s social purpose is also woven throughout its members’ day-to-day banking experience—from the accounts it offers to the member experience that it provides. For example, when welcoming new members, each step is designed to be accessible and inclusive, with minimal fees, intuitive digital features and clear language. In 2024, the credit union introduced its latest purpose product, the Elevate Chequing Account which unlocks free access to Coursera, an online learning platform with more than 13,000 job-relevant courses and micro-credentials. The account was designed in response to members needing to not only budget and save in the face of increasing affordability challenges, but also to address their topline income. Through access to the Coursera platform, members can upskill or reskill to advance their careers and potentially get paid more.

“At the heart of it, we are trying to help shape better financial outcomes for our members, employees and our broader communities,” says Young. “We want to help young Canadians build their financial resilience and align their banking with their future needs and values, not just their immediate transactions. We are committed to the long-term success of our members as a trusted financial partner not just day-to-day transactions.”

Ultimately, for younger Canadians looking for more from their financial institutions than just products and transactions, credit unions offer a different kind of banking relationship, one that is grounded in people, purpose and community.

Learn more about Canada’s credit unions here. And learn more about how Hannah worked with a Kindred advisor to turn her goals into a realistic financial plan in this short video.