Week 6

Good Morning! It’s time to dive back into our weekly dose of insights. This week, we’re digging deep into how your favourite restaurants and banks might be doing more with your money than you think - and not in ways that alight with your values. From fast-food chains with political ties to banks that may be funding agendas without you knowing, we’ve got you covered with tips on spotting local dining alternatives and switching to community-focused credit unions. Let's jump in and take control of where our dollars go!

RBI: Why Can’t Restaurants Just Serve Food

We miss being able to go a fast-food chain, spend $5 and get a combo meal, or spend $20-$30 with enough food for a party. Now, a combo alone could cost upto $20 per person. But our wallet isn’t the only thing that pains, so does our conscience knowing that Restaurant Brands International subsidiaries choose to operate in occupied Palestinian Land as well as offer free meals to soldiers of the IDF.

As reported by HNGN, this really caught the eyes of Pro-Palestinians when Burger King posted on social media that Israeli Soldiers eat free. That’s where the boycott of Tim Hortons and Popeyes started. Since then, Burger King has removed the social media posts, however they still have 17 locations in Israel, with no comment or apology issued. They have spoken out on the Russia-Ukraine conflict, divert support to Russian stores, however, choose to remain silent with Israel-Palestine.

They have still seen year over year revenue growth according to their financial report:

• $5.7 billion USD in 2021

• $6.5 billion USD in 2022

• $7.0 billion USD in 2023

However, not to say the boycotts aren’t working, they have seen substantial decline after boycotts. According to Verdict Food Service, RBI’s 2023 Q3 had seen a 31.3% decline from previous year, generating $364 million USD compared to $530 million USD from the previous year.

William’s Fresh Café: The Comfortable Local Choice

I know you’re starting to miss your warm caffeinated beverages, and coffee shop hangouts. Well guess what, you don’t have to stop! We’ve found another Canadian local franchise that can give you a warm comfy hangout joint, that also has your staple drinks, including iced cappuccinos, seasonal lattes, and everything in between.

As of now, the café is still a growing franchise with locations all over Ontario with more soon to come to Toronto. You can find their $11.9 million revenue in 2023, and they’re continuing to grow!

Your Money Matters: Don’t let it fund a war

Growing up I was told putting your money in the bank was the safest place for it. We knew they made money using our money, through interest and investments, but now the world has come to a new turning point; where people are now conscience of how their money, directly and indirectly is affecting others worldwide.

Unfortunately, according to many sources combined by BankTrack and BDS Coalition, 7 of the major banks in Canada are supporting the genocide in Gaza:

• Scotiabank: Invested over $500 USD million in Israel’s largest arms manufacturer, Elbit

• Bank of Montreal (BMO): Investments in illegal settlements and over $90 USD million loan to Elbit, Israel’s largest arms manufacturer

• CIBC: Promote Israeli investments, with endorsement from Jewish National fund president

• HSBC: Major shareholder and loan provider to companies selling weapons and military tech to Israel, as well as investments in illegal settlements

• Manulife: Investments in illegal settlements

• Royal Bank of Canada (RBC): Over $57.7 USD million in investments in illegal settlements and Palantir Technologies Inc, Israeli Artificial Intelligence (AI) predective system to spy on occupied Palestine

• TD Bank: Over $16 USD million in investments in General Dynamics, Israeli arms aerospace and weapons company

But do not fret, find our alternative options below, where you can put your money away and not have to worry about it funding political conflicts.

Non-profit Banks: Yes, they exist

What if we told you there was a financial cooperative that was non-profit, customer-owned, and have the primary objective of serving their community. All this and more, you can read about Credit Unions here, but they are rooted in the needs of their communities and value driven for their members.

As of 2022, credit union assets in Canada (excluding Quebec) total more than $302 billion and are showing constant growth. A few good local Credit Unions that you can find all over Ontario are:

• Meridian: 85 branches, Personal & Business, fastest growing

• Alterna Savings: 46 branches, Personal & Business, over 110 years old

• FirstOntario: 30 branches, Personal & Business, some of the best Visa options

We hope you enjoyed this week’s newsletter, give us your feedback below and we look forward to seeing you again next week!