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Concentra, a company that provides financial services to credit unions, was founded in 2005 and currently serves 244 credit unions in Canada. Below is an overview of the findings.


  • Concentra is a financial services company and has its headquarters in Saskatoon, Saskatchewan, Canada.
  • The company was founded in 2005 and specializes in wholesale banking solutions, trust solutions, equipment leasing solutions, consumer finance, and treasury.
  • As per the company's 2018 annual report, the company has 305 employees.
  • Operation-wise the company partners with credit unions in Canada to ensure that its more than five million members throughout Canada have access to competitive financial services through their local credit union.
  • Concentra is specialized in asset management, treasury needs, and trust solutions for credit unions, and aims to help credit unions improve their financial performance, effectively manage risks, and build strong relationships with clients.
  • Concentra fortifies local credit unions by helping them access to national connections.
  • Concentra is emerging as a "dynamic wholesale bank" within Canada's financial services industry.
  • It became the first schedule one chartered bank that has dedicated itself to offering financial services to credit union systems in Canada on January 1, 2017, under the Bank Act.

Governance structure

  • Concentra is a federally-regulated financial institution.
  • The Bank Act is the primary legislation that governs Concentra. The Boards of Directors of Concentra Bank and Concentra Trust (its subsidiary) consists of 12 persons of which the majority are independent directors who are chosen according to the "legislative, regulatory, and bylaw framework" for Schedule I chartered banks.
  • The company follows its bylaws, the "OSFI Corporate Governance Guideline, Bank Act, Affiliated Persons (Banks) Regulations," the recommendations provided by of the "Canadian Coalition for Good Governance and the Canadian Securities Administrators’ published requirements for corporate governance, wherever required."
  • In the Board of Directors of Concentra Bank, Daniel Johnson currently serves as the Chair and Lise de Moissac serves as the Vice Chair. Don Coulter, who has served as a director in the Board of Directors since 2018 is also the Chief Executive Officer of the company.
  • Concentra Trust, a wholly-owned subsidiary of Concentra Bank, is currently served by a Board of Directors consisting of seven persons. Teresa Lee is one of the directors who has been serving since 2015.
  • The company, as a corporate entity, has partnerships with the following entities:
    • Financeit: It is a point-of-sale financing partner and Concentra has funded more than $240 million in loans since becoming partners in 2016.
    • Borrowell: This partner provides "unsecured personal loans and offers a free personal credit score."
    • League Savings and Mortgage: A financial institution owned by Atlantic Canada's credit union.

Financial performance




  • The return on investment for the company for the years 2014, 2015, 2016, 2017, and 2018 has been 3.0%, 4.0%, 10.0%, 3.0%, and 4.0% respectively.
  • As a financial institution with an increasingly healthy and positive net income, the company does not rely on external funding for its operations.
  • As of 2018, the company had a total of $35.7 billion in assets under administration and $9.7 billion in total assets.
  • The company has also funded $200,000 in community projects annually.

Key customers


  • "We partner with credit unions to ensure their 5 million plus members across Canada can choose competitive financial services from their local credit union."
  • "Concentra's suite of business solutions specialize in asset management, treasury needs, and trust solutions focusing on providing credit unions with effective strategies to improve financial performance, manage risk, and grow relationships with their members."
  • "Concentra brings national connections to local credit unions, delivering expertise and financial clout to strengthen the credit union system."
  • "Concentra continues to evolve as a dynamic wholesale bank within Canada's financial services industry. In fact, through continuance under the Bank Act on January 1, 2017, Concentra became the first schedule one chartered bank focused on providing financial services to Canada's credit union system."
  • "With deep roots in the co-operative system, Concentra's Story is built on shared values and our commitment to success through serving credit unions from coast to coast."
  • "Concentra Bank offers a wide range of financial solutions including specialized banking, consumer finance, treasury, and wealth management solutions to business owners, consumers, and credit unions. As an innovative company, we form partnerships to deliver industry-best financial solutions to our customers."
  • "A strong risk culture, governed by a leading enterprise-wide risk framework, supports Concentra to achieve and maintain financial targets. Concentra’s strong balance sheet and high-quality assets, combined with its liquidity and capital position will allow the company to continue performing well."
  • "Concentra remains focused on delivering value to owners through consistent dividends, and building a stronger franchise model."
  • "Concentra is a federally regulated financial institution guided by co-operative principles. The Boards of Concentra and its wholly-owned subsidiary Concentra Trust are committed to upholding high standards of corporate governance which reflect not only the applicable legal and regulatory requirements but also emerging best practice within the overall framework of the co-operative system and its principles."
  • "Good corporate governance is integral to the success of Concentra. Our core promise to be a company fully dedicated to credit union success guides the board’s oversight, its relationship with management, and its accountability to shareholders."
  • "The responsibilities of the board focus on the following key areas: --oversight of financial performance and long-term sustainability --continuous improvement of governance principles and practices --creating value for and protecting the interests of shareholders --enterprise risk management to ensure a comprehensive approach to risk --setting the tone for a corporate culture of integrity and engagement "
  • "Credit unions like East Coast Credit Union have relied on Concentra Trust for nearly 60 years to deliver professional estate administration services throughout Canada."
  • "Coastal Financial Credit Union have relied on Concentra for nearly 60 years to deliver professional estate administration services throughout Canada."
  • "Concentra Bank is a purpose-based organization, striving to enable the success of Canadians. Innovative and future-focused company, we form partnerships to deliver best-in-industry financial solutions to our customers."
  • "Concentra strives to be among the most trusted organizations in Canada by solving problems for our customers and offering a positive, seamless customer experience. Specializing in lending and investment solutions, Concentra offers a wide range of financial solutions including specialized banking, consumer finance, treasury, wealth/trust services and more."
  • "With deep roots in the co-operative system, we are proud of our past and excited about our future. "
  • "Specialties : Wholesale Banking Solutions, Trust Solutions, Equipment Leasing Solutions, Consumer Finance, and Treasury"
  • "Concentra Trust and FirstOntario have a longstanding, successful relationship. Their expanded partnership is a strategic next step and reinforces the credit union’s commitment to the financial well-being of its members by providing direct access to a Concentra Trust, Trust and Estate Consultant. "