Vancity Community Investment Bank, formerly known as Citizens Bank of Canada, is a British Columbia, Canada-based direct bank owned by Vancity.
The bank operated three branches, one each in Calgary, Vancouver and Toronto.
Video Vancity Community Investment Bank
Products offered
Personal
- Visa cards, including the Amnesty International Visa (also carried by Desjardins)
Business
- Commercial mortgages
- Foreign currency exchange
- Time deposits
As a chartered financial institution, deposit accounts are insured by Canada Deposit Insurance Corporation (CDIC).
Maps Vancity Community Investment Bank
History
From 1997 until 2009, The bank offered personal and business banking services over the internet.
On August 5, 2009, the bank announced that it would focus its operations on Visa card services and foreign exchange services for non-retail members, and was leaving the personal banking marketplace. The bank became a non-deposit-taking bank and entered into an agreement to sell its residential mortgages, personal loans and real estate secured lines of credit to Toronto-Dominion Bank. Savings and chequing accounts of B.C. customers were transferred to Vancity in B.C., or to another financial institution of their choice. Customers outside of B.C. had to transfer their accounts to other financial institutions.
In 2014, Vancity was on Maclean's list of 50 Most Socially Responsible Corporations in Canada.
Since December 31, 2007, Vancity and its subsidiaries has been carbon-neutral.
References
External links
- Official website
Source of the article : Wikipedia
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