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ANNOUNCEMENT - Wednesday, May 9, 2018

Concentra Trust and FirstOntario Credit Union team up to expand wealth management services with a joint Trust and Estate Consultant role


               
 

Partnership enhances the delivery of estate and trust services to 118,000 FirstOntario members

Saskatoon/Hamilton, May 9, 2018 - Concentra Trust and FirstOntario have a long-standing, 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.

"Our Members now have access to a dedicated and experienced Trust and Estate Consultant to focus on the transfer of assets, executorship and trusts to fulfil their estate planning needs," said Ejaz Nadeem, Vice President Wealth at FirstOntario. "The addition of this new role in co-operation with Concentra Trust is the first of its kind in Ontario, and will complement the full suite of wealth management services our credit union currently offers."

Based in Hamilton, and providing professional services in Hamilton, Halton, the Niagara Region and Southwestern regions of Ontario, the Trust and Estate Consultant will champion estate and trust solutions as part of FirstOntario's financial services including daily transactions, mortgages, lines of credit, loans and investments.

"We know a comprehensive wealth management strategy, including specialized estate and trust services, is quickly becoming a cornerstone offering for credit unions to serve their members" said Karen Bradley, Vice President, Estates and Trusts, Concentra Trust. She continued, "Partnering with FirstOntario to provide a local Trust and Estate Consultant is another step to advance Concentra Trust as the leading Trust company in providing estate and trust solutions for Canada's credit union system."

Concentra Trust is a leader in the industry with notable strengths in administering estates and trusts of all sizes and complexity, with no minimum age or net worth restrictions. The enhanced offering of estate and trust solutions at FirstOntario aligns with its current wealth management offering of providing members with an integrated approach and competitive solutions to achieve financial well-being.

Over the next 20 years, intergenerational wealth transfer is estimated to be valued at up to $1.5 trillion. Estate and trust solutions help financial institutions build deeper relationships with their members and clients, assisting in retaining wealth and providing comprehensive financial services for all life stages.

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Media Relations contacts:

Concentra FirstOntario Credit Union
Laura HermanStacey Marshall
Sr. Communications ConsultantManager, Communications/Public Relations
P: 306.956.7089P: 905.387.2133


About FirstOntario Credit Union

FirstOntario has been serving Members in the Golden Horseshoe, Niagara Region and Southwestern regions of Ontario since 1939. FirstOntario is the province's second-largest credit union with more than 118,000 Members and $5 billion in assets under management. Everyone is welcome to be part of FirstOntario for banking services including daily banking, mortgages, lines of credit, loans and investments. FirstOntario profits are invested into the communities we serve through support for entrepreneurs, competitive rates and charitable pursuits including our award winning student nutrition program. Learn more about us today at FirstOntario.com.


About Concentra Bank

Concentra is the wholesale bank and trust company for Canada's credit unions. We bring national connections to local credit unions, helping to serve 5 million members across Canada. Concentra specializes in asset management, treasury, and trust solutions, focusing on providing credit unions with strategies to improve performance, manage risk, and grow member relationships. Concentra's strength comes from deep roots in the co-operative system, built on shared values to grow and serve credit unions across Canada.
Concentra Trust is a wholly-owned subsidiary of Concentra Bank.
www.concentra.ca