A Message from the Canadian Labour Congress - Credit Card Interest Rates

Monday, April 20, 2020

Vancity Credit Union, the second largest credit union in Canada, has reduced its credit card interest rate to zero percent.

Meanwhile, the big banks have made some small changes to interest card rates. Those changes don’t apply to everyone. They don’t go far enough. Too many Canadians who've lost their jobs because of COVID-19 are still paying absurd credit card interest rates. Maybe the banks want us to believe they can’t afford to do better. We know that’s a load of baloney. Let’s tell them so.

More than 5,000 people have already sent a letter to the CEO of the big banks. Together we're showing them that Canadians, their customers, deserve better. You can send a letter to the CEOs of the big banks right now using our simple tool:

Economists say we are experiencing the worst financial crisis of our lifetimes. No one really knows how we’ll get out of this. We do know that everyone needs to do their part. We’re expecting the big banks to do much better. Let’s keep at this until they do.

Thanks for being a part of this campaign. 

Brent Farrington, Director
Political Action and Campaigns, Canadian Labour Congress
Standing up for workers and their families