News releases

TORONTO – Canada Post and TD Bank Group (TD) today announced the national launch of a personal loan product, the Canada Post MyMoneyTM Loan, after an extensive market test confirmed strong consumer demand for more accessible lending products.

OTTAWA / TORONTO – Canada Post and The Toronto-Dominion Bank ("TD") are pleased to announce they have entered into a strategic alliance to expand access to financial services for Canadians, beginning with a new personal loan product. Starting this fall, Canada Post and TD will launch a pilot for this new product in select post office locations and will aim to expand availability across Canada, particularly for those in rural, remote and Indigenous communities.

The Canada Post segment recorded a loss before tax of $50 million for the second quarter of 2019, as continuing declines in mail volumes were offset by parcels volumes growth that was more modest than the significant growth rates of a year ago.

Canada Post is reporting a loss before tax of $270 million for 2018. Three main non-recurring items factor into the result: the $280 million cost of resolving pay equity and the estimated $135 million net impact of the labour disruption in the fall, partially offset by a $48 million gain after an actuarial update to workers compensation liabilities.

Canada Post recorded a loss before tax of $94 million for the third quarter of 2018, mainly due to the costs of implementing the final pay equity ruling, which will adjust how much delivery employees in suburban and rural Canada (RSMC) are paid.

The Canada Post segment lost $62 million before tax in the third quarter, traditionally the postal service's slowest period of the year. Year-to-date, the Canada Post segment is reporting a profit of $13 million before tax heading into the holiday season when millions of Canadians are expected to make an unprecedented number of purchases online.

Canada Post’s focus on innovative, convenient delivery and returns experiences is helping Canadian businesses grow through e-commerce – and maintaining Canada Post’s position as the country’s No. 1 parcel company.