Pacific & Western Bank of Canada

Pacific & Western Bank of Canada is a Schedule I Chartered Bank and among the top chartered Canadian banks, currently ranking ninth in the country.

The most specific characteristic of Pacific & Western Bank of Canada is the innovative elimination of actual bank branches trough the use of modern technologies, allowing efficient and low-cost electronic banking. Due to the virtual lack of expenses, related to the maintenance of conventional bank branches, and its outstanding IT team, Pacific & Western Bank of Canada is able to offer better interest rates and faster movement of funds, compared to other banking institutions.

Pacific & Western Bank of Canada was established in 1980 as Pacific & Western Trust Corporation. Over its 30 years history, through a series of transformations, the financial institution turned to today’s modern Schedule I Chartered Bank. On February 27, 2009, the bank completed a private placement closing of $10 million of subordinated notes (10 year term). The President and CEO of Pacific & Western, David Taylor, announced that the additional capital will boost the bank’s lending capacity and help it meet the borrowing needs of clients.

Pacific & Western Bank of Canada offers two main services: deposits and financing. The deposit services are headquartered in Saskatoon, Saskatchewan. Financing services are operated from London, Ontario, Calgary, and Alberta while customer relations are based in Toronto, Ontario.

To corporate clients, the bank offers loans and equipment lease financing. In addition, Pacific & Western works with various health care providers across the country and offers capital and operating lease financing, intended for the purchase of equipment – from fine tools and instruments to big and expensive diagnostic units.

Pacific & Western Bank of Canada provides a variety of deposits including guaranteed investment certificates with top interest rates; several types of tax-sheltered registered retirement savings plans; saving accounts with interest calculated daily and paid monthly and again, it comes with some of the best interest rates offered anywhere in Canada. There are tax-free savings accounts (TFSA), premium interest saving accounts and guaranteed investment certificates with 1-year of 5-year terms.

The main goal of the bank is to identify niches that are not well served by the larger banking institutions while at the same time concentrate on finding opportunities for low risk lending. Pacific & Western is constantly seeking lending markets with high potential for growth. The financing services have a public sector focus and aim to provide funds to schools, universities, colleges, hospitals all over the country, municipal projects, local governments, federal governments and others. Although the Pacific & Western Bank of Canada financial services are geared towards large corporations, lending is also available to individuals. Outstanding customer service and strong ties with each client are some of the bank’s top priorities.

Pacific & Western Bank of Canada is licensed to run financial activities throughout Canada. The Bank is a member of the Canada Deposit Insurance Corporation (CDIC), and the Canada Mortgage and Housing Corporation (CMHC). Pacific & Western Bank of Canada is a subsidiary of Pacific & Western Credit Corporation. It is listed on the Toronto Stock Exchange as a public company. Its symbol is PWC.

Pacific & Western Bank of Canada has 60 highly-qualified and experienced employees. Its headquarters are in London, Ontario. The address of its headquarters is 140 Fullarton Street, suite 2002, London, ON N6A 5P2.

Finally, the bank provides financial support to numerous community and charitable organizations such as: National Aboriginal Achievement Foundation, Ride with Lance, London North Rotary, Canadian Diabetes Association, and French for the Future, among others.