Amicus Bank

Amicus Bank

Location: Toronto, Ontario, Canada
Cicero, Illinois/Maitland, Florida, United States (US operations)

First CEO: Brian Cassidy

Existed: 1999-2003

Dissolved, Canadian services now provided by modern-day Canadian Imperial Bank of Commerce (CIBC)

Amicus Bank was a wholly owned subsidiary of Canadian Imperial Bank of Commerce (CIBC) which provided non-traditional banking to customers.

Canadian operations

Within Canada, Amicus Bank was primarily responsible for operating President's Choice Financial. Amicus Bank briefly provided services under its own name through Bell Sympatico's portal. It also took on the operation of non-branch automated banking machines (primarily stand-alone's at services stations, convenience stores) which were co-branded for Amicus Bank and CIBC.

The bank asked for and received approval from the Minister of Finance for voluntary dissolution in 2002. Services operated by Amicus Bank are now provided by the direct banking division of CIBC. President's Choice Financial is now a unit of CIBC Retail Markets.

Amicus Bank had 1100 employees in Canada and the US.^[1]

XtraCash ATM Incorporated (founded 1998) was acquired under Amicus FSB in 2001.

US operations

Amicus had an American unit, Amicus FSB (Amicus Federal Savings Bank), which was formed in 2000 and has since ceased operations due to cancellation of joint ventures south of the border. Amicus FSB partnered with Safeway grocery stores in western US states (California, Colorado) and Florida, doing business as Safeway SELECT Bank with 161 locations, and partnered with Winn-Dixie in Florida, doing business as Marketplace Bank (CIBC National) with 185 locations. Amicus set up banking kiosks where customers could make deposits, apply for loans, and withdraw money. The US unit ceased operation at the end of November 2002 with customers with certificate of deposit transferred over to E-Trade Bank.^[2] Amicus FSB filed with the Federal Deposit Insurance Corporation for voluntary liquidation and closing with operations ceasing on September 29, 2003.

Key people

Brian Cassidy, CEO of Amicus Bank;^[3] now retired
Gary Gray, President of Amicus FSB - Western Division^[4] - later became Executive VP of Retail Banking with Umpqua Bank

External links

References

Wikimedia Commons has media related to Amicus Bank.

Banks and credit unions in Canada

Banks

Big Five	Bank of Montreal Canadian Imperial Bank of Commerce (President's Choice Financial) Royal Bank of Canada Scotiabank (Tangerine) Toronto-Dominion Bank (TD Canada Trust)

Other banks	AMEX Bank of Canada Bridgewater Bank Business Development Bank of Canada Canadian Tire Financial Services Canadian Western Bank Citibank Canada Citizens Bank of Canada Equitable Bank Exchange Bank of Canada First Nations Bank of Canada HSBC Bank Canada ICICI Bank Canada Laurentian Bank of Canada Manulife Bank of Canada Meridian Bank National Bank of Canada Rogers Bank VersaBank Wealth One Bank of Canada

Credit unions

Credit unions	Affinity Credit Union Aldergrove Credit Union Alterna Savings Assiniboine Credit Union BlueShore Financial Central 1 Credit Union Coast Capital Savings Concentra Financial Conexus Credit Union Credit Union Central of Canada Desjardins Group Envision Financial First Calgary Financial First West Credit Union Gulf and Fraser Fishermen's Credit Union Island Savings Kawartha Credit Union Kootenay Savings Credit Union Libro Financial Group Meridian Credit Union Mouvement des caisses populaires acadiennes Servus Credit Union Steinbach Credit Union TCU Financial Group Vancity Windsor Family Credit Union Your Credit Union Your Neighbourhood Credit Union

Credit union deposit insurance	Alberta * British Columbia * Manitoba * New Brunswick * Newfoundland and Labrador * Nova Scotia * Ontario * Prince Edward Island * Saskatchewan

Other financial institutions

Federal financial institutions	Farm Credit Canada

Provincial financial institutions	ATB Financial

This article is issued from Wikipedia - version of the 7/1/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.