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Though these negotiations were unsuccessful, they opened a door for CS CO-OP, under the leadership of Gary Seveny, to secure a bank charter for its subsidiary CS Loan Corporation, [5] established as a Canada Deposit Insurance Corporation member in 1992. [7] The new bank was launched as CS Alterna Bank in October 2000 to offer service across Canada.
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[11] [12] It continues to use the same institution number (#608). [13] Its parent organization, the Civil Service Co-operative Credit Society, operated as CS CO-OP. [14] The merger of CS CO-OP and Metro Credit Union in 2005 created Alterna Savings, adopting its subsidiary's name. [4] Alterna Bank is a member of Canada Deposit Insurance ...
Traders Bank of Canada 1885 1912 Acquired by the Royal Bank of Canada. [167] Union Bank of Canada: 1865 1925 Founded as the Union Bank of Lower Canada, the name changed to the Union Bank of Canada in 1886. [168] Merged into the Royal Bank of Canada. [169] Union Bank of Halifax: 1856 1910 Merged into the Royal Bank of Canada. [170] Union Bank of ...
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In 1998, the Bank of Montreal proposed a merger with the Royal Bank of Canada around the same time that CIBC proposed to combine with the Toronto-Dominion Bank. [23] The banks argued that these mergers would enable them to compete globally with other financial institutions. [33] This would have left Canada with only three major national banks.
Federated Co-operatives Limited (FCL), operating as Co-op, is a co-operative federation providing procurement and distribution to member co-operatives in Western Canada. [3] [4] It was established in 1944 after a series of amalgamations of smaller cooperatives, starting in Saskatchewan, including the Saskatchewan Co-operative Wholesale Society and a fuel production and distribution co-op, [1 ...
CU Cooperative Systems, Inc. doing business as Co-op Solutions [1] [2] (formerly d.b.a. CO-OP Financial Services), is a company that operates an interbank network connecting the ATMs of credit unions in the United States, with locations also in Canada and certain United States Navy bases overseas. It is the largest credit union-owned interbank ...