Citizens Bank of Canada

Citizens Bank of Canada

Type	Bank ^[1]^[2]
Industry	Financial services
Founded	1997
Headquarters	Vancouver, British Columbia
Key people	Lisa Coltart, President and CEO^[3]
Number of employees	380
Website	citizensbank.ca

Several banks are commonly known as Citizens Bank.

Citizens Bank of Canada (French: Banque Citizens du Canada) is a British Columbia, Canada-based virtual bank owned by Vancouver City Savings Credit Union (Vancity). From 1997 until 2009, Citizens Bank offered personal and business banking services over the internet. On August 5, 2009, Citizens 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. Citizens Bank became a non-deposit-taking bank.^[4] Citizens Bank entered into an agreement to sell its residential mortgages, personal loans and real estate secured lines of credit to the 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.

Boutiques

Citizens Bank operated three boutiques, one each in Calgary, Vancouver and Toronto, where members and the public could find out more information about and apply for the bank's products.^[4]

Products offered

Personal

Visa cards, including the Amnesty International Visa (also carried by Desjardins)

Business

Commercial mortgages
Foreign currency exchange
Term deposits

As a chartered financial institution, deposit accounts are insured by Canada Deposit Insurance Corporation (CDIC).

Public social responsibility stance

Citizens Bank purports to incorporate its ethical policy^[5] into doing business, so as to ensure they do business in a socially responsible manner.

On April 9, 2008, Citizens Bank of Canada became the first North American bank to claim to be fully carbon neutral,^[6] as announced publicly by David Suzuki.

References

↑ "List of Schedule Banks to the Bank Act". IESO. April 13, 2013. Retrieved on October 29, 2015.
↑ Banks Around the World - Citizens Bank of Canada. Retrieved on October 29, 2015.
↑ Citizens Bank - Chris Dobrzanski Archived March 6, 2016, at the Wayback Machine.
1 2 https://www.citizensbank.ca/Personal/Changes/MessageFromCEO/
↑ Citizens Bank of Canada - Our Ethical Policy
↑ Citizens Bank of Canada - Carbon Neutral Commitment

External links

Official website

Banks and credit unions in Canada

Banks

Big Five	Bank of Montreal Canadian Imperial Bank of Commerce (President's Choice Financial) Royal Bank of Canada Scotiabank (Tangerine) Toronto-Dominion Bank (TD Canada Trust)

Other banks	AMEX Bank of Canada Bridgewater Bank Business Development Bank of Canada Canadian Tire Financial Services Canadian Western Bank Citibank Canada Citizens Bank of Canada Equitable Bank Exchange Bank of Canada First Nations Bank of Canada HSBC Bank Canada ICICI Bank Canada Laurentian Bank of Canada Manulife Bank of Canada Meridian Bank National Bank of Canada Rogers Bank VersaBank Wealth One Bank of Canada

Credit unions

Credit unions	Affinity Credit Union Aldergrove Credit Union Alterna Savings Assiniboine Credit Union BlueShore Financial Central 1 Credit Union Coast Capital Savings Concentra Financial Conexus Credit Union Credit Union Central of Canada Desjardins Group Envision Financial First Calgary Financial First West Credit Union Gulf and Fraser Fishermen's Credit Union Island Savings Kawartha Credit Union Kootenay Savings Credit Union Libro Financial Group Meridian Credit Union Mouvement des caisses populaires acadiennes Servus Credit Union Steinbach Credit Union TCU Financial Group Vancity Windsor Family Credit Union Your Credit Union Your Neighbourhood Credit Union

Credit union deposit insurance	Alberta * British Columbia * Manitoba * New Brunswick * Newfoundland and Labrador * Nova Scotia * Ontario * Prince Edward Island * Saskatchewan

Other financial institutions

Federal financial institutions	Farm Credit Canada

Provincial financial institutions	ATB Financial

Companies based in the Metro Vancouver area

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