Pathway Report


Cashco Financial Inc. (Cashco) is a champion for the underbanked of Canada. Over 28% of Canadians define themselves as underbanked and those are the people we service every day. The underbanked are people who do not have access to mainstream banking. They are often declined for credit (including credit cards) and therefore depend on alternative financing. We’re here for those who don’t have access to credit and financial services through traditional mainstream institutions.

Our Pathway to Using Business as a Force for Good report (Pathway Report) is designed to help you, our reader, understand how Cashco aligns our business strategy with our overall purpose to provide relief today and hope for tomorrow.

Let us show you the steps we’re taking to End Financial Exclusion.


A Message from our Founder

Welcome to our first-ever annual Pathway to Using Business as a Force for Good report (Pathway Report). I am humbled to share with you the work that Cashco has been doing and our goals for our future.

For over 10 years, the team at Cashco has been guiding our clients on better financial paths. Our purpose at Cashco is to provide relief today and hope for tomorrow.

The “relief” part is what we accomplish with our operations every day. We’re the ones who open our doors to those who have been turned away by the more traditional and big banks. We give access to loan products to those who have been denied time‑and-time again. We believe our superpower to be empathy, so that when a client visits us they know they’re in a space that is judgement-free. Our frontline staff members pull on my heartstrings every day because they’ve mastered the ability to create lasting relationships with their clients, just by simply being good humans.

The “hope” part of our purpose is where things get challenging; hope isn’t as tangible as a healthy credit score or a household budget that works. Hope is what we trust our clients feel after they leave a Cashco branch. Every day, we have conversations about money with people who are struggling financially, and those who don’t see a solution to their financial problems. We believe in the power of teaching our clients about how they can take control of their finances.

This is done through our financial literacy programs and initiatives. This is something we believe in companywide, and our support staff work towards innovations and products that will truly improve our clients’ financial wellbeing.


Our big, hairy, audacious goal (BHAG) is to End Financial Exclusion and I fully believe that the conversations we have within our four walls every day are key to meeting our goal.


Despite the challenges we faced in 2020, our team has been moving the needle towards ending financial exclusion.

COVID-19 hit our entire world hard, and while there was opportunity after opportunity to reasonably crumble, the people who work at Cashco are steadfast. Our team shifted to a remote working system—something I never thought I would see and something we were not prepared for—within a couple of days of the country’s first lockdown. I was in awe of the way our people showed more courage than fear. We went to work to find out how we could be accessible in the safest way possible to our clients who needed us now more than ever.

We found our stride amongst the uncertainty and we got back to the “big picture” of what Cashco needs to do in the next 3-5 years. The way our leadership team sees it, we have three major goals by 2025:



Digitizing the product and service offering in a thoughtfully designed omni channel strategy that will serve customer expectations and the need to efficiently and profitably deliver growth to the business.


Balance Purpose & Profit

Attention to both purpose and profit is required to maintain the company’s key differentiator, ensure the sustainability of the business and thereby grow its social impact on a large scale.


National Partner Ready

A “healthy” balance sheet is required to attract investment and working capital. More importantly, the decisions required to improve the balance sheet will force business decisions rooted in the short-and long-term financial health of the business.


I strongly believe that we are more than a loan company. We are an advocate for the underbanked Canadian who lives pay cheque to pay cheque. We know that access to financial services is a right, not a privilege. Financial inclusion isn’t just going to happen though. Companies like ours need to exist to help Canadians get access to what they need. I’d like to leave you with three things I hope you keep with you always. If you practice gratitude it’ll give you the letter J. If you practice humbleness it’ll give you the letter O. And if you practice selflessness you get the letter Y. And if we put them together… I wish upon you a whole lot of JOY.

Tim Latimer, CEO



We are immensely proud of the way our people responded to the pandemic that swept the world in 2020. We are the first in the financial sector to receive the Stirling Harmston Certificate of Preparedness and Response! This is a true testament to the hard work of our team to keep our clients and ourselves as safe as possible.





Responsible Lending – 90.6% Our Net Promoter Score for 2020.

Our Net Promoter Score is how we find out if our clients are happy with our business. This asks them the question if they’re likely to refer our business to a friend.

Our People – 94% of Cashco employees believe their work has special meaning.

Our mission is to build good humans with an attitude of gratitude. Our people services team strives to deliver on all accounts. We are mindful of cultivating a culture where staff feel good about their workplace, are fairly compensated, and best supported with their professional development — all with an attitude of gratitude as we explore our financial journeys together.

Social Impact – 27% of Canadians borrow money for daily expenses because they are short on money. Another 17% of Canadians are borrowing because their monthly spending exceeds their monthly income.

These are often the people who walk through our doors: They need a hand up so that they can afford groceries or that last bit of rent.