Wyth Financial is the new trade name of Concentra Bank. Our roots go back to the 1950s but our strategy and attitude are focused on the future. We aspire to become Canada’s leading mid-market digital bank and our new trade name represents this evolution.
Wyth 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 to 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, 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 in 2021.
Wyth’s strengths are specialization, partnership and innovation
We are Canada’s 13th largest bank by total assets. Wyth Trust, a federal trust company and our wholly owned subsidiary, is Canada’s 7th largest trust company.
Wyth leverages its decades of experience and our partnerships with Fintechs to deliver innovative solutions to our customers—faster, smarter and unique financial products.
Backed by strong capital and liquidity, Wyth has a diverse and growing asset base. We have a small but mighty, mostly remote workforce, and we have been named one of Canada’s Best Managed Companies for 18 years in a row.