VersaBank is a Schedule I, Canadian chartered bank. We are licensed to operate across Canada and are a member of the Canada Deposit Insurance Corporation (CDIC), and the Canada Mortgage and Housing Corporation (CMHC).
We have developed a strong network of brokers to efficiently raise deposits nationwide. Our in-house information technology team has developed new technologies and is committed to ongoing innovation, making us a leader in the fintech industry. Electronic transfers of funds and data move through our system seamlessly, allowing for instant processing of deposits. We are significantly more efficient than financial institutions using traditional retail branch networks. With our powerful efficiency advantages and ample capitalization, we are able to provide better, faster and more cost-effective financial solutions for our clients.
With no retail branch offices to maintain, we pass these savings on to our clients by paying more attractive rates to our depositors, and by pricing loans and leases more competitively.
We specialize in providing financing for niche markets such as well-established corporations and our numerous non-bank and fintech partners. We build strong relationships with our clients who benefit from lending products tailored to their specific needs.
By continually improving our systems and using strategies to reduce costs, we are able to operate more efficiently than our peers. Our asset-to-employee ratio – a recognized measure of productivity – is approximately four times better than that averaged by traditional banks.
Our offices are located across Canada, with our Head Office in London, Ontario. Deposit operations are located in Saskatoon, Saskatchewan, with lending offices in various centres.
We have been operating since 1980, initially as Pacific & Western Trust Corporation. Through strategic change and our commitment to ongoing innovation in fintech over the years, we have evolved into the bank we are today – a Schedule I chartered bank that supports Canadian businesses.
Our administration and lending staff have worked an average of 20 or more years in the industry.
Much of our lending has been in the real estate and development industry, an area of finance that requires exceptional expertise. Our lending also encompasses numerous commercial, corporate and government projects from Atlantic Canada to British Columbia. Finally, we have built a strong reputation and have become the engine behind Canada’s fintech industry with our Bulk Purchase Program generating significant growth for our asset portfolio.
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Our exceptional team is ready to put our knowledge and expertise to work for you.