Money Mentors

What Money Mentors does

Money Mentors is an Alberta-based non-profit credit counselling agency founded in 1997 and headquartered in Calgary, Canada. The organization provides free, confidential credit counselling, debt consolidation, money coaching, and financial education services to Albertans struggling with debt. Its defining asset is exclusive appointment by the Government of Alberta as the sole provider of the federally legislated Orderly Payment of Debts (OPD) program under the Bankruptcy & Insolvency Act, a court-protected debt consolidation solution that combines all unsecured debts (including CRA tax and student loans) into a single monthly payment at a fixed 5% interest rate, enabling debt-free status in five years or less. The organization supplements OPD with Debt Management Plans (with monthly administrative fees), Consumer Proposal referrals via Licensed Insolvency Trustees (~$1,800 fixed fee), and one-on-one money coaching with certified financial counsellors. Service delivery spans phone (1-888-294-0076), website self-serve booking, video consultations, and in-person offices in Calgary and Red Deer.

The technology stack centers on a Salesforce Experience Cloud-based client portal for account management and OPD enrollment, a Learning Management System hosting free on-demand courses (Budget Boot Camp, Credit Rating IQ, Online Shopping With Confidence, Balancing on Unstable Income, R&R in Retirement), and standalone financial calculators. The organization produces a content marketing library (Money Tips blog, research reports) and conducts the annual Love and Money Benchmark Survey as thought leadership. Money Mentors operates with 11-50 employees, holds accreditations from Credit Counselling Canada and the Better Business Bureau, and won the 2026 Consumer Choice Award for Credit & Debt Counselling Services in Northern Alberta.

The business model is non-profit: core counselling and education services are provided free of charge, funded through government partnerships (notably the OPD program administration contract with the Government of Alberta), corporate sponsorships (e.g., TD Bank for the F.R.E.S.H. small business program), and community donations. Revenue-generating streams are limited to monthly administrative fees on Debt Management Plans, OPD program administration, and referral-based Consumer Proposal fees. The organization targets individual consumers overwhelmed by debt, government debt holders (CRA, student loans), and—more recently—Alberta small business owners via the TD-sponsored F.R.E.S.H. Program. All operations are geographically restricted to Alberta.

Name

Money Mentors

Legal name

Money Mentors

Website

https://moneymentors.ca

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Money Mentors is a Calgary-based non-profit credit counselling agency, founded in 1997, that provides free debt consolidation, credit counselling, and financial education services to Albertans. It holds exclusive appointment from the Government of Alberta to administer the federally legislated Orderly Payment of Debts (OPD) program.

Ownership category

akta.pro rank

Product category

Credit Counselling Services

NAICS

Activities Related to Credit Intermediation (5223), Educational Support Services (6117), Credit Intermediation and Related Activities (522)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320), Services-Educational Services (8200)

akta.pro primary industry

Credit Counseling & Debt Management Plans (DMP) (FSAKAJAH)

akta.pro secondary industries

Consumer Credit Counseling & Budgeting (FSAEAFAA), Credit & Debt Management (Credit Scores, Loans, Repayment) (EDAAAJAC), Financial Literacy, Debt Counseling & Default Prevention (EDALAJAK)

Keywords

• Credit counselling services
• Debt consolidation programs
• Financial education courses
• Consumer debt relief
• Money coaching services

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Debt Management Plan Administration: Money Mentors offers Debt Management Plans where the organization collects one monthly payment from clients and distributes to creditors. A monthly administrative fee is charged for this service.
2. OPD Program Administration: As the exclusive provider of Alberta's Orderly Payment of Debts program, Money Mentors administers the program with no start-up fees for clients. The program is designed to be cost-effective for clients, consolidating all debts into one affordable monthly payment.
3. Free Services (Funded by Government/Donations): Core credit counselling and financial education services are provided free of charge to Albertans, funded through government partnerships and community support as a non-profit organization.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Money Mentors is an Alberta-based non-profit credit counselling agency that delivers free, confidential credit counselling, debt consolidation through the federally legislated Orderly Payment of Debts (OPD) program, Debt Management Plans, one-on-one money coaching, and an extensive library of free online financial education courses. The OPD program, available exclusively through Money Mentors in Alberta, consolidates all unsecured debts (including government debts) into one monthly payment at a fixed 5% interest rate, designed to make clients debt-free in five years or less.

Product overview

Money Mentors is a non-profit credit counselling agency offering a comprehensive suite of debt relief and financial education services primarily in Alberta. The core offering centers on the Orderly Payment of Debts (OPD) Program, a federally legislated debt consolidation solution available exclusively through Money Mentors in Alberta. This is complemented by debt consolidation services, credit counselling, and money coaching. The company also provides an extensive library of free online financial education courses covering topics such as budgeting (Budget Boot Camp), credit management (Credit Rating IQ), online shopping safety, retirement planning, and the F.R.E.S.H. program for small business owners. Additional resources include online calculators (credit card debt payment calculator) and a client portal for account management. All services are provided free of charge to Albertans, positioning the organization as a non-profit focused on financial wellness rather than commercial profit.

Differentiator

Problem solved

Functional benefit

Products and services

• Orderly Payment of Debts (OPD) Program Federally legislated debt consolidation program that combines all unsecured debts, including government debts such as CRA income tax, employment insurance, and student loans, into one affordable monthly payment at a fixed 5% interest rate, with court-protected status and a target of debt-free in five years or less. Available exclusively through Money Mentors in Alberta.
• Debt Consolidation Debt consolidation services that combine multiple unsecured debts into one monthly payment through the OPD program, Debt Management Plans, or negotiated arrangements, for Albertans seeking an alternative to bankruptcy.
• Credit Counselling Free, unbiased, confidential credit counselling provided by certified financial counsellors to help clients understand their debt situation and identify the right debt solution, including a free initial financial needs assessment.
• Money Coaching

Quantifiable outcome

• 17% of Canadians considered ending relationships due to financial pressures (2026 Love and Money Survey)
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core, flagship and minor.

• Credit Counselling CanadacoreOthersMoney Mentors is an accredited member of Credit Counselling Canada, ensuring the organization follows strict ethical standards and national best practices for credit counselling agencies.
• Better Business BureaucoreOthersMoney Mentors holds Better Business Bureau accreditation, demonstrating commitment to ethical business practices and consumer trust.
• Government of AlbertaflagshipStrategic or Co-development PartnerMoney Mentors is the exclusive provider of the federally legislated Orderly Payment of Debts (OPD) program in Alberta, administered on behalf of the Government of Alberta under the Bankruptcy & Insolvency Act.
• TD BankminorGTM or Marketing PartnerTD Bank sponsors Money Mentors' F.R.E.S.H. Program (Financial Resilience for Entrepreneurs and Small Business), a free financial education program for small business owners in Alberta.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Others

• Financial Consumer Agency of Canada (FCAC): Canadian federal agency that promotes financial literacy and consumer protection, including debt management education. Indirectly comparable as a publicly funded provider of free financial education content that competes for the same borrower-awareness audience Money Mentors targets with its free courses and blog.

Emerging players

• My Money Coach: Canadian non-profit financial literacy platform providing educational resources and budgeting tools. Comparable in financial education mission and free-content positioning; competes with Money Mentors' LMS courses and Money Tips blog for top-of-funnel financial wellness traffic.
• Borrowell: Canadian fintech offering free credit scores, credit monitoring, and lending products. Comparable as a digital-first financial wellness alternative for younger Canadian borrowers; partial overlap with Money Mentors' Credit Rating IQ course and B2B financial education angle, but competes primarily on digital experience.

Regional players

• David Sklar & Associates: Canadian Licensed Insolvency Trustee firm providing Consumer Proposals, bankruptcy filings, and debt counselling. Comparable as an alternative to OPD/DMP for severely indebted Canadian borrowers, primarily competing in online intent channels rather than Alberta-specific referrals.
• 4 Pillars Consulting Group: Canadian debt consulting and Licensed Insolvency Trustee network offering Consumer Proposals, debt consolidation, and credit counselling across multiple provinces. Comparable product set to Money Mentors; regional overlap is limited but the brand competes for online intent across Canada.

Broad incumbents

• Hoyes Michalos & Associates: Ontario-based Licensed Insolvency Trustee firm offering Consumer Proposals and bankruptcy services. Competes for the same distressed-debt client in adjacent geographies; comparable as a competitor for the OPD/DMP funnel because Consumer Proposals are a direct alternative to Money Mentors' debt solutions.
• Bankruptcy Canada: National consumer-facing platform that connects indebted Canadians with Licensed Insolvency Trustees and provides financial education content. Operates as an alternative referral channel competing for the same distressed-debt audience Money Mentors serves via OPD/DMP.

Direct peers

• Credit Counselling Society: BC-headquartered Canadian non-profit credit counselling society providing debt repayment programs, counselling, and financial education. Comparable in non-profit mandate and product structure; differs from Money Mentors in provincial reach (BC vs. Alberta) and lack of an equivalent exclusive legislated program.
• Credit Canada: Canadian non-profit credit counselling agency offering debt consolidation, credit counselling, and financial education nationwide. Closely comparable to Money Mentors in mission (free, confidential, non-profit counselling) and product set (DMP, counselling, education), with the key difference being national rather than Alberta-only scope.
• Consolidated Credit Counseling Services of Canada: Non-profit credit counselling organization serving Canadian consumers with debt consolidation, credit counselling, and financial education. Directly comparable in non-profit positioning, service mix (counselling + DMP administration), and content-driven marketing approach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/c/moneymentors
• Xx.com/MoneyMentors
• Facebookfacebook.com/MoneyMentors

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Money Mentors