The specialized banking solutions offered by Concentra Bank can help Canadian businesses grow. Giro Bank works closely with its fintech partners to offer products and services in the field of commercial loans foreign exchange guarantees investment certificates and cash management. In addition to mortgages Concentra Bank also offers trust services to credit unions in Canada. We offer a range of services from consultancy to fast money transfers. Banks also provide services such as capital markets and investment brokerage. As a result customers benefit from exclusive banking solutions.
Solutions in the residential banking market meet the needs of individual account holders credit unions and mutual funds seeking to diversify their assets. The bank offers a variety of mortgage products and services such as fixed term loans and variable term mortgage services. These offerings help consumers find the right mortgage for their needs. In addition to catering to the needs of individuals Concentra Bank offers specialized mortgage services.
- In addition to providing retail and commercial banking services Concentra has a long history of working with fintech companies. The bank plans to further strengthen its digital transformation in the Canadian market with a new banking platform. The new platform will support the value proposition of a seamless digital banking experience and expand the reach of Concentras products for Canadian credit unions. In addition to these services Concentra has partnered with Intellect to provide their clients with a high quality state of the art leasing system to manage a complete real estate finance transaction.
Concentra Bank Offers Mortgages and Trust Solutions for Credit Unions in Canada
Most credit unions in Canada are jointly owned but Concentra Bank is a wholesale bank for the credit union industry. Our business solutions portfolio focuses on asset management needs and trust solutions. By providing these services we are doing more than just credit unions in Canada. This increase will allow the bank to offer competitive pricing for its services while maintaining strong wholesale and fiduciary solutions.
The bank is a member of the Canadian Deposit Insurance Corporation (CDIC). The company offers a wide range of financial services for individuals and businesses. The bank is a professional service provider offering a wide range of specialized banking products to Canadian credit unions and their members. Unlike traditional banks Concentra does not offer checking accounts or other traditional deposit products. The Canadian government and its territories hold shares in the bank but the company is not independent.
The bank is a domestic chartered bank owned by Canadian credit unions. The main focus of the banking industry is to provide trust and wholesale banking solutions to credit unions and corporations. The Canadian Banking Act limits credit unions to certain sizes and financial capacities. This makes it difficult to compete with the big banks. Concentra is therefore the only viable option for small businesses and individuals. In addition to offering checking accounts the bank also serves community organizations and federations.
The banks online platform provides credit unions with access to a wide variety of investment products offered by the bank. This allows transactions to be completed within minutes. The company has a wide range of deposit solutions and offers refinancing. We offer a comprehensive portfolio of investments providing comprehensive financial solutions to Canadian companies and their members. And being a Canadian company it has a unique role in the financial sector.
Besides offering online banking services the bank has also opened a retail bank in the US under the name Home Equity. It was the first Canadian company to offer reverse mortgages to seniors. It is the first private company and bank in Canada to offer this product. Apart from Home Equity Concentra Bank is a major financial institution in Canada. Branches are located in Edmonton and Toronto.
As of July 2018 the bank had a net interest income of $57 million. It is similar to earnings and similar to bank profits. In the first half of 2021 HomeEquity Bank will have offices again in Toronto and Vancouver. The Canadian subsidiary of Bank of China (China) is the largest branch in Canada. MBNA is known as the Bank of Canada. The company has opened a new office in Calgary.