About Bank West
On November 27, 2002 Bank West received its Banking Charter and commenced business on January 30, 2003.
Bank West is a wholly owned subsidiary of Western Financial Group Inc., a public company listed on the Toronto Stock Exchange (WES). Western Financial Group is the fourth largest property and casualty insurance broker in Canada and the largest in Western Canada consisting of more than 80 branch offices across Western Canada.
The company has been an aggressive consolidator of insurance agencies, and, as part of its longer term plan, the group has been working hard to expand and offer new and competitive financial products to its client base. It was this thought and this commitment that led to the creation of Bank West.
Since inception, Bank West has grown through means of organic strategies as well as completing two important acquisisitions namely, Ubiquity Bank (November 2007) and Agrifinancial (February 2009). With the resources in hand from these past market activities, we now have a variety of term loan and leasing products focused on various Commercial and Agricultural markets, Personal Lending products where we can offer competitive value, and also participates within several specialty loans programs through experienced full service brokerage partners.
Bank West is also a broker-based bank where we raise our deposits through a network of deposit brokers, including the financial services offices of our affiliated companies which operate under the name “Western Financial Group.” As we don't have an expensive branch network system, we can offer interest rates on our deposit products that are often among the highest in the country.
On the lending side of the business, our focus is on conventional and insured residential first mortgages, commercial real estate, and farm real estate lending in our markets including British Columbia, Alberta, Saskatchewan and Manitoba. Bank West also offers personal installment loans and equipment financing for our commercial and farm customers.
Our Head Office is located in High River, Alberta. We are a member of the Canada Deposit Insurance Corporation (CDIC) and our deposits are eligible for deposit insurance.
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