Canadian Western Bank
Canadian Western Bank (CWB; ), also operating as CWB Financial Group, is a Canadian bank based in Edmonton, Alberta. The bank serves clients both in Western Canada and in other provinces. The CWB Financial Group, and is made up of 10 banking, lending, wealth and trust companies. Its loan book is almost equally represented across BC, Alberta and Ontario. As part of its expansion plans, CWB has opened a branch in Mississauga, Ontario, just west of Toronto. History. Canadian Western Bank was formed through the 1988 merger of two banks: the Bank of Alberta (founded 1984), and the  Western & Pacific Bank of Canada (founded 1982). It was led by Bank of Alberta co-founders Charles Alexander Allard and Eugene Pechet. In 1993, it acquired Western Canadian branches of Metropolitan Trust. In 1994, Canadian Western Bank and North West Trust Company amalgamated as Canadian Western Bank. In 1996, it acquired BC Bancorp (chartered in 1967), and purchased the Aetna Trust Company, which was renamed Canadian Western Trust Company. In 2001, it acquired the Kelowna and Regina branches of the Laurentian Bank of Canada. Operations. Canadian Western Bank's operating affiliates include: Motive Financial. Motive Financial is the virtual banking  division of Canadian Western Bank. As such, eligible deposits are held at Canadian Western Bank, a member of Canada Deposit Insurance Corporation (CDIC). Motive Financial is an online bank, meaning it has no branches that you can walk into. Instead, customers' banking can be done with a phone, tablet, or computer anywhere there is internet access. Motive serves customers in all provinces except Quebec. Accounts can be opened online. Deposits and withdrawals can be made using one of The Exchange ATM network’s 2400 ATMs. Debit-card purchases can be made using the Interac network. Transfers to and from other  banks may be done by electronic funds transfer (EFT), by Interac e-Transfer, or by writing cheques. Because Motive offers no in-branch services, it is able to offer higher interest rates than conventional banks. Motive Financial was founded in 1984 and is based in Edmonton. It was founded in 2008 as Canadian Direct Financial. On April 18, 2017, they rebranded to become Motive Financial. Adam Skoreyko, Division Manager at Motive Financial explained that this virtual branch was created to help people save: “We want to know what you’re saving for and why so we can help you get  there. We want to reward people who choose to be smart with their money. So to everyone who has ever been called cheap or chintzy, we’ve got your back.” Membership. Canadian Western Bank is a member of the Canada Deposit Insurance Corporation (CDIC). It also belongs to the Cirrus, Interac, Mastercard, and The Exchange interbank networks.