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| Home » Banking in Canada » Citizens Bank of Canada | |||||||||||||||||||||||||||
Citizens Bank of Canada |
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Citizens Bank of Canada (French: Banque Citizens du Canada) is a British Columbia, Canada-based virtual bank owned by Vancouver City Credit Union (Vancity). |
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From 1997 until 2009 Citizens Bank offered personal and business banking services over the internet. On August 5, 2009, Citizens Bank announced that it will focus its operations on Visa card services, and foreign exchange services for non-retail members and will leave the personal banking marketplace. Citizens Bank has become a non-deposit-taking bank. Vancity has 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 will be transferred to Vancity in B.C., or to another financial institution of their choice. Customers outside of B.C. will have to transfer their accounts to other financial institutions. 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. |
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In 2008, Citizens Bank of Canada becoming the first North American-based
bank to be carbon neutral. This means the CO2 emissions create by the bank
are now equal to the emissions that have reduced or offset elsewhere. |
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