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Concentra Bank

Full company profile

uuid0009nzf

Namestring
Concentra Bank
Legal namestring
Concentra Bank
Websiteurl
wyth.ca
Company typeenum
Private
Founded yearint
2005
Descriptiontext

Concentra Bank is a Canadian Schedule I bank and wholly owned subsidiary of Equitable Bank (EQB Inc.) that operates as a wholesale and trust services provider to the Canadian credit union system. The company was founded in 2005, is headquartered in Saskatoon with operating presence in Toronto, and employs 251-500 staff. Its core business is the administration of registered savings plans (RDSP, RESP, TFSA, RRSP, RRIF, and locked-in accounts) through Concentra Trust, distributed via partnerships with credit unions that together reach six million members across Canada. Concentra also services a run-off residential mortgage portfolio under the Wyth Financial trade name; Wyth ceased originating new mortgages as of June 10, 2026, but continues to service existing borrowers through the borrower.wyth.ca portal and a structured fee schedule covering discharges, transfers, payment changes, prepayments, and default administration.

Revenue is generated through three primary streams: interest income on the legacy residential mortgage book, recurring administrative fees from registered plan servicing, and transactional mortgage servicing fees (e.g., discharge fees ranging from $0 in AB/QC to $395 in most other provinces, payment change fees of $90, default administration fees of $500). Concentra's go-to-market is exclusively channel-based: direct-to-consumer mortgage servicing via Wyth, and credit-union-mediated distribution for registered plans and trust products. The company also operates MemberDirect for Business banking, Concentra FX for foreign exchange, and a partner portal for credit union business users. Concentra Bank is a member of the Canada Deposit Insurance Corporation (CDIC) and operates under the regulatory framework applicable to Canadian banks.

Short descriptiontext

Concentra Bank is a Canadian wholesale and trust bank, wholly owned by Equitable Bank, that administers registered savings plans (RDSP, RESP, TFSA, RRSP, RRIF) through credit union partnerships and services a run-off residential mortgage portfolio under the Wyth Financial brand.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersSaskatoon, Canada
HQ citystring
Saskatoon
HQ countrystring
Canada
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
wholesale banking services, registered savings plans, mortgage servicing, credit union trust solutions, deposit products
NAICS code2 codes
  • Commercial Banking52211
  • Depository Credit Intermediation5221
SIC code1 code
  • Functions Related To Depository Banking, Nec6099
Product category
Canadian Wholesale Banking and Trust Services
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model4 records
1Mortgage Interest Income
TypeSubscription Recurring
Description

Interest income from residential mortgage portfolio. Wyth is no longer offering new mortgages but continues to service existing mortgage accounts.

concentra.ca
2Mortgage Servicing Fees
TypeTransaction Fee
Description

Various fees charged for mortgage services including discharge fees, transfer/assignment fees, payment change fees, returned payment fees, legal action fees, and statement fees.

concentra.ca
3Registered Plan Administration
TypeSubscription Recurring
Description

Administration of registered savings plans (RDSP, RESP, TFSA, RRSP, RRIF, locked-in accounts) offered through credit union partnerships.

concentra.ca
4Digital GIC Products
TypeOne Time License
Description

Digital GIC products were offered previously; existing GICs continue to be serviced until maturity with annual interest payments.

concentra.ca
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels5 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Pricing details7 tiers
1Closed Fixed Rate Mortgages - 1 to 5 year terms available
ModelSubscriptionBilling cadenceMonthly
Notes

1-year: 6.39% special/6.79% APR/6.49% posted; 2-year: 5.49% special/5.69% APR/5.59% posted; 3-year: 4.74% special/4.87% APR/4.84% posted; 4-year: N/A special/N/A APR/4.84% posted; 5-year: 4.49% special/4.57% APR/4.59% posted

concentra.ca
2Variable Rate Mortgages - Prime minus spread
ModelSubscriptionBilling cadenceMonthly
Notes

5-year variable: 3.70% special/3.78% APR; Wyth's Prime Rate minus 0.75%

concentra.ca
3Mortgage Discharge Fees (by province)
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Residential excluding AB, BC, MB, QC: $395; BC: $75; MB: $105; AB and QC: $0; Partial release of security: $350; Government charges vary by province ($37.85-$170)

concentra.ca
4Transfer/Assignment Fees
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Quebec: $0; PEI: $25; Newfoundland and Labrador: $50; All other provinces: $395; Government charge for transfer (NB): $85

concentra.ca
5Payment Change and Skip Fees
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Payment change: $90; Holding/delaying a payment: $90; Single payment skip/miss: $90

concentra.ca
6Release of Covenant Fees
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Release of covenant: $350; Qualified assumptions: $450; Non-qualified assumptions: $1,000

concentra.ca
7Legal and Default Administration Fees
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Default administration: $500; Bankruptcy/consumer proposal administration: $250; Payment of condo arrears: $150+; Returned basic residential/vision and equity program: $105

concentra.ca
GTM typeB2B and B2C
B2B and B2C
Offering typeServices
Services
Brand1 of 2 records shown
1Wyth
Description

Mortgage servicing and related financial products brand operating under Concentra Bank

concentra.ca
+1 more record
Core offering1 text field

Concentra Bank is a Canadian Schedule I bank that serves as a wholesale finance and trust provider for credit unions, offering registered plan administration (RDSP, RESP, TFSA, RRSP, RRIF, and locked-in accounts) through Concentra Trust. It also provides residential mortgage servicing under the Wyth Financial brand for existing customers and operates ancillary platforms including MemberDirect for Business banking and Concentra FX for foreign exchange.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 value
  • Up to $90,000 in government grants and bonds available through RDSPs
Product overview1 text field

Concentra Bank is a Canadian bank offering a comprehensive suite of banking and financial products primarily focused on registered savings plans, investment products, and mortgages. The product portfolio includes registered plans (RRSP, TFSA, RESP, RDSP, RRIF, Locked-in Savings Accounts, and Locked-in Income Accounts), GICs, and mortgages offered under the Wyth Financial brand. Mortgage products include fixed-rate (1-5 year terms) and variable-rate options, along with mortgage default insurance and prepayment tools. The bank also provides MemberDirect for Business banking services and Concentra FX for foreign exchange. Concentra Bank operates as a subsidiary of Equitable Bank and is a member of CDIC.

Product and service1 record
1Registered Disability Savings Plan (RDSP)
Scale indicator1 record

Each record includes

Type, Value, Description, Source

Partnership1 partner
1Credit Unions (Canada)
Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Concentra Trust, together with credit unions across Canada, offers Registered Disability Savings Plans (RDSPs) and other registered plan products. Credit unions serve as the primary distribution channel for reaching individual customers with these specialized financial products.

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Market position
Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Customer concentration

Classification, Details

Named customers2 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature2 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries1 record

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment2 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Concentra Bank

Canadian Wholesale Banking and Trust Serviceswyth.ca

Concentra Bank is a Canadian wholesale and trust bank, wholly owned by Equitable Bank, that administers registered savings plans (RDSP, RESP, TFSA, RRSP, RRIF) through credit union partnerships and services a run-off residential mortgage portfolio under the Wyth Financial brand.

What Concentra Bank does

Concentra Bank is a Canadian Schedule I bank and wholly owned subsidiary of Equitable Bank (EQB Inc.) that operates as a wholesale and trust services provider to the Canadian credit union system. The company was founded in 2005, is headquartered in Saskatoon with operating presence in Toronto, and employs 251-500 staff. Its core business is the administration of registered savings plans (RDSP, RESP, TFSA, RRSP, RRIF, and locked-in accounts) through Concentra Trust, distributed via partnerships with credit unions that together reach six million members across Canada. Concentra also services a run-off residential mortgage portfolio under the Wyth Financial trade name; Wyth ceased originating new mortgages as of June 10, 2026, but continues to service existing borrowers through the borrower.wyth.ca portal and a structured fee schedule covering discharges, transfers, payment changes, prepayments, and default administration.

Revenue is generated through three primary streams: interest income on the legacy residential mortgage book, recurring administrative fees from registered plan servicing, and transactional mortgage servicing fees (e.g., discharge fees ranging from $0 in AB/QC to $395 in most other provinces, payment change fees of $90, default administration fees of $500). Concentra's go-to-market is exclusively channel-based: direct-to-consumer mortgage servicing via Wyth, and credit-union-mediated distribution for registered plans and trust products. The company also operates MemberDirect for Business banking, Concentra FX for foreign exchange, and a partner portal for credit union business users. Concentra Bank is a member of the Canada Deposit Insurance Corporation (CDIC) and operates under the regulatory framework applicable to Canadian banks.

Concentra Bank firmographics

Firmographics
Name
Concentra Bank
Legal name
Concentra Bank
Website
https://wyth.ca
Company type
Private
Founded year
2005
Operating status
Operating
Headcount range
251–500 employees
Short description
Concentra Bank is a Canadian wholesale and trust bank, wholly owned by Equitable Bank, that administers registered savings plans (RDSP, RESP, TFSA, RRSP, RRIF) through credit union partnerships and services a run-off residential mortgage portfolio under the Wyth Financial brand.
Ownership category
akta.pro rank

Where Concentra Bank is headquartered

Location

Headquarters

HQ city
Saskatoon
HQ country
Canada
HQ region
North America

Offices1 record

Markets served

Concentra Bank business model

Business model
GTM type
B2B and B2C
Offering type
Services
Cost components
Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

  1. Mortgage Interest Income: Interest income from residential mortgage portfolio. Wyth is no longer offering new mortgages but continues to service existing mortgage accounts.
  2. Mortgage Servicing Fees: Various fees charged for mortgage services including discharge fees, transfer/assignment fees, payment change fees, returned payment fees, legal action fees, and statement fees.
  3. Registered Plan Administration: Administration of registered savings plans (RDSP, RESP, TFSA, RRSP, RRIF, locked-in accounts) offered through credit union partnerships.
  4. Digital GIC Products: Digital GIC products were offered previously; existing GICs continue to be serviced until maturity with annual interest payments.

Pricing tiers

ModelBillingPrice
SubscriptionMonthlyClosed Fixed Rate Mortgages - 1 to 5 year terms available
SubscriptionMonthlyVariable Rate Mortgages - Prime minus spread
Unit PricingPay-as-you-goMortgage Discharge Fees (by province)
Unit PricingPay-as-you-goTransfer/Assignment Fees
Unit PricingPay-as-you-goPayment Change and Skip Fees
Unit PricingPay-as-you-goRelease of Covenant Fees
Unit PricingPay-as-you-goLegal and Default Administration Fees

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Concentra Bank product offering

Product offering

Core offering

Concentra Bank is a Canadian Schedule I bank that serves as a wholesale finance and trust provider for credit unions, offering registered plan administration (RDSP, RESP, TFSA, RRSP, RRIF, and locked-in accounts) through Concentra Trust. It also provides residential mortgage servicing under the Wyth Financial brand for existing customers and operates ancillary platforms including MemberDirect for Business banking and Concentra FX for foreign exchange.

Product overview

Concentra Bank is a Canadian bank offering a comprehensive suite of banking and financial products primarily focused on registered savings plans, investment products, and mortgages. The product portfolio includes registered plans (RRSP, TFSA, RESP, RDSP, RRIF, Locked-in Savings Accounts, and Locked-in Income Accounts), GICs, and mortgages offered under the Wyth Financial brand. Mortgage products include fixed-rate (1-5 year terms) and variable-rate options, along with mortgage default insurance and prepayment tools. The bank also provides MemberDirect for Business banking services and Concentra FX for foreign exchange. Concentra Bank operates as a subsidiary of Equitable Bank and is a member of CDIC.

Differentiator

Problem solved

Functional benefit

Brands

  • Wyth: Mortgage servicing and related financial products brand operating under Concentra Bank
  • EQ Bank

Products and services

  • Registered Disability Savings Plan (RDSP)

Quantifiable outcome

  • Up to $90,000 in government grants and bonds available through RDSPs

Companies that use Concentra Bank

Customer profile

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Concentra Bank technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature2 records

Concentra Bank partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • Credit Unions (Canada)coreChannel Partner/ Reseller/ DistributorConcentra Trust, together with credit unions across Canada, offers Registered Disability Savings Plans (RDSPs) and other registered plan products. Credit unions serve as the primary distribution channel for reaching individual customers with these specialized financial products.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Concentra Bank competitors and assessment

Company assessment

Market position

Weaknesses5 records

Competitive moat5 records

Customer concentration

Concentra Bank social profiles

Digital presence

Concentra Bank financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Concentra Bank leadership team

Management profile

Number of profiles

Profiles1 record

Concentra Bank subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Concentra Bank funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Concentra Bank M&A and investment

M&A and investment

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Concentra Bank

What does Concentra Bank do?

Concentra Bank is a Canadian Schedule I bank that serves as a wholesale finance and trust provider for credit unions, offering registered plan administration (RDSP, RESP, TFSA, RRSP, RRIF, and locked-in accounts) through Concentra Trust. It also provides residential mortgage servicing under the Wyth Financial brand for existing customers and operates ancillary platforms including MemberDirect for Business banking and Concentra FX for foreign exchange.

Is Concentra Bank a public or private company?

Concentra Bank is a private company. It is classified as corporate owned and is currently operating.

When was Concentra Bank founded?

Concentra Bank was founded in 2005. It employs 251 to 500 people.

Where is Concentra Bank based?

Concentra Bank is headquartered in Saskatoon, Canada, in the North America region.

How does Concentra Bank make money?

Four revenue lines are on record. Mortgage Interest Income is the primary driver. The others are mortgage Servicing Fees, registered Plan Administration and digital GIC Products.

Does Concentra Bank have an API?

No public API is recorded for Concentra Bank.

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Live signals
GurufocusEQ's Concentra awards $150,000 to credit unions strengthening CaEquitable Bank's Concentra awarded $150,000 to six credit unions through its 2026 Empowering Your Community program. The grants support initiatives like food security and Indigenous resurgence, with over $2.3 million awarded since 2011.PR NewswireEQ's Concentra awards $150,000 to credit unions strengthening Canadian communitiesConcentra awarded $150,000 to six credit unions through EQ's 2026 Empowering Your Community program. The grants support initiatives like food security and Indigenous resurgence, with over $2.3 million awarded since 2011.PR NewswireEQB delivers record quarterly earnings and a 6% dividend increaseEQB Inc. reported record quarterly earnings for the first quarter of 2023, driven by the full integration of its recent acquisition of Concentra Bank and strong organic lending growth. The company announced a 6% increase in its common share dividend and reaffirmed its 2023 earnings guidance, highlighting robust capital ratios and liquidity levels.PR NewswireEQB Reports Record Q3 Earnings on Margin Expansion, AUM Surpasses $47B, Board Declares Fourth Consecutive Quarterly Dividend Increase and Appoints New DirectorsEQB Inc. reported record Q3 2022 financial results with adjusted net interest income of $187 million (up 24% year-over-year), adjusted diluted EPS of $2.35 (up 14% y/y), and assets under management surpassing $47.3 billion (up 18% y/y), driven by strong conventional lending growth across all asset classes and margin expansion. The company also announced the November 1, 2022 closing of its Concentra Bank acquisition, making EQB Canada's 7th largest independent bank by assets with combined AUM exceeding $100 billion, and declared a 7% sequential increase in quarterly dividends. EQB issued preliminary 2023 guidance projecting ROE of 15%+, diluted EPS growth of 10-15%+, and pre-provision pre-tax earnings growth of 25-35%, including Concentra contributions.GlobalfintechseriesEquitable Bank Completes Acquisition of Concentra BankEquitable Bank, a subsidiary of EQB Inc., has completed the acquisition of Concentra Bank for $35.7 million above its book value, aiming to accelerate growth and diversify funding. The transaction was financed in part by proceeds from subscription receipts issued earlier in 2022, increasing EQB's outstanding shares to approximately 37.5 million. Integration efforts are underway with a combined workforce of 1,800 employees, expected to deliver financial synergies accretive to stakeholders.PR NewswireEquitable Bank completes acquisition of Concentra BankEquitable Bank has completed its acquisition of Concentra Bank for a premium of $35.7 million over book value, establishing itself as Canada's seventh-largest independent bank. The transaction adds $13.6 billion in assets under management and $38.6 billion in assets under administration to Equitable Bank's portfolio, enhancing its scale and diversification. This strategic move positions the combined entity to better serve Credit Union partners and over 5 million Canadians.PR NewswireEQB Reports Continued Strong Lending Growth and Core Earnings, Assets under Management up to $45.8 Billion, Increases DividendEQB Inc. reported Q2 2022 earnings showing strong core operations with record quarterly net interest income and 36% year-over-year conventional lending growth to $24.1 billion, though adjusted earnings declined 13% to $61.5 million due to $12.6 million in mark-to-market losses on its strategic investment portfolio from North American equity market volatility. The company confirmed full-year 2022 guidance and raised its common share dividend by 7% quarter-over-quarter, while proceeding with its planned acquisition of Concentra Bank following unconditional clearance from the Competition Bureau of Canada.Advisor.caEquitable Bank buys ConcentraToronto-based Equitable Group Inc. has agreed to acquire digital rival Concentra for $470 million, a transaction that will elevate Equitable to become Canada’s seventh-largest bank. The deal involves purchasing SaskCentral’s 84% equity interest in Concentra and includes support agreements for the remaining shares, with expected closure in the second half of the year subject to regulatory approval.Fitch RatingsFitch Affirms Equitable Bank at 'BBB-' Following Acquisition of Concentra Bank; Outlook StableFitch Ratings has affirmed Equitable Bank's long-term issuer default rating at 'BBB-' with a stable outlook following the bank's announced acquisition of Concentra Bank for approximately C$470 million. The transaction is expected to close in the second half of 2022 and will enhance Equitable Bank's geographic footprint and revenue diversification through Concentra's credit union relationships and mortgage portfolio.PR NewswireConcentra Bank Selects StereoLOGIC for Process and Task Mining Solution to Help Streamline Business OperationsConcentra Bank announced on November 18, 2021 that it has selected StereoLOGIC's process and task mining solution to automate registered plan administration and improve client onboarding. StereoLOGIC's technology will provide real-time visualization and measurement of business processes, revealing inefficiencies and time savings opportunities. Concentra Bank expects the solution to significantly reduce processing time and enhance productivity for its employees and customers.