Company Information

Get to know Concentra Bank

Concentra Bank was a Schedule I Canadian bank that served as a "bank for credit unions," providing wholesale banking, treasury services, and trust solutions to the Canadian credit union system. Its origins trace back to the Co-operative Trust Company of Canada, founded in 1952. In May 2021, Concentra Bank rebranded to Wyth Financial to reflect its evolving digital strategy. Subsequently, in 2022, Equitable Group Inc. (parent company of Equitable Bank) acquired Concentra Bank (then Wyth Financial), and in January 2023, Wyth Financial was amalgamated with Equitable Bank. The Concentra brand is no longer in use.

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Concentra Bank

Canada

Founded in

2005 (21 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.