Our story
Our origins
Concentra Bank started as Co-operative Trust Company of Canada (Co-operative Trust), which had national powers through the federal Trust and Loan Companies Act.
In 2005, SaskCentral and Co-operative Trust teamed up to incorporate Concentra Trust and create Concentra Financial Services Association, Canada's only federally regulated financial co-operative retail association. Concentra served more than 90% of Canadian credit unions (outside of Québec). SaskCentral was the largest shareholder. Concentra had the powers of a bank but with some distinct limitations, such as its capital structure.
To address these limitations, Concentra became a Schedule 1 bank on January 1, 2017. With the arrival of President & CEO Don Coulter in 2018, Concentra Bank embarked on a new strategic direction, which included relaunching as Wyth Financial in 2021.
We are excited to announce that Wyth Financial and Concentra Trust are now part of the Equitable Bank family and we look forward to joining Canada’s Challenger Bank™. Founded more than 50 years ago, Equitable Bank is now Canada’s 7th largest Schedule 1 bank, measured by assets.