Focusing on the opportunities for growth

Danilo Terra of ATB Financial’s equipment finance team talks about overcoming hurdles to success and the green shoots of reinvention and new industry that await Alberta

Focusing on the opportunities for growthDanilo Terra is director of equipment finance at ATB Financial. Can you explain what your role is with ATB Financial?  Terra: I believe Alberta business should have the equipment required for success and my job is to do my best to provide them with the capital they need. Here in the equipment financing group for…

Mortgage restrictions force millennials to abandon home ownership

The result has significantly dampened the Canadian economy. Banks, not legislated stress tests, know best who can pay for houses

Mortgage restrictions force millennials to abandon home ownershipAn uproar is brewing over real estate in Canada, fuelled by a misguided attempt to protect willing homebuyers from themselves. Owners see prices declining, while prospective first-time owners find themselves locked out by mandated stress tests. The federal regulator should ease stress-test requirements – if not eliminate them altogether – before they cause further harm…

RBC works relentlessly toward Indigenous economic inclusion

Dale Sturges talks about the array of programs RBC offers to be recognized as a bank that stands for Indigenous prosperity

RBC works relentlessly toward Indigenous economic inclusionDale Sturges is national managing director of the Indigenous Financial Services Group with RBC. Does RBC offer any unique programs or services to meet the needs of Alberta’s Indigenous community? Sturges: RBC offers a number of programs to support access to education and employment for Indigenous people, including the RBC Indigenous Talent Development Program, which…

Servus Credit Union net income up 7% in quarter

Assets grew 3% to $16.4 billion; deposits increased by 3.6% to $13 billion

Servus Credit Union net income up 7% in quarterEdmonton-based Servus Credit Union reported net income (after dividends, patronage and taxes) of $22.7 million for the second quarter of its fiscal year, up 7.1 per cent from last year’s second quarter. The credit union’s assets grew three per cent to $16.4 billion; deposits increased by 3.6 per cent to $13 billion; loans expanded by 3.7…

Alberta credit unions launch public awareness campaign

Want to show Albertans at any stage of life why credit unions are a compelling banking alternative

Alberta credit unions launch public awareness campaignAlberta credit unions have launched a campaign to raise awareness of why they are a “compelling” alternative to traditional banks. The inaugural #IRL (In Real Life) campaign was launched by Alberta Central, the central banking facility, service bureau and trade association for Alberta’s credit unions. It will focus on bringing awareness to Albertans about credit…

Navigating the mortgage marketplace

Darrell Majdell of BMO talks about what consumers need to know about the mortgage stress test and how to choose the loan that works for you

Navigating the mortgage marketplaceDarrell Majdell is regional vice-president of mortgage specialist sales force at BMO. How has the economic downturn of the last few years in Alberta affected mortgage business? Majdell: The Alberta economy has slowed over the past few years, and the real estate sector and mortgage market have felt the effects of this overall – earlier…

Can we protect privacy in a cashless society?

The key is to find digital mediums of exchange that preserve the distinct attributes of cash

Can we protect privacy in a cashless society?Canada leads the world in the transition to digitized commerce. With more than two credit cards per capita, the cashless economy is approaching swiftly. The move has been largely voluntary, driven by convenience, and half of Canadians favour dispensing with notes and coins altogether. With cash-only businesses declining to near non-existence, what’s the problem? As…

How cryptocurrency is changing basic economics

For survival, central banks have little choice but to enter the digital-currency race. But it’s a race they will eventually lose

How cryptocurrency is changing basic economicsCentral bankers increasingly sense their obsolescence – and rightly so. The more people turn to private currencies and conduct transactions without intermediaries, the less bureaucrats control the economy. In February 2019, a 33-page Bank of Canada discussion paper unwittingly admitted the vulnerability. The authors, James Chapman and Carolyn Wilkins, noted widespread adoption of cryptocurrencies as…

Demystifying the mortgage process for consumers

Mike Cameron of Axiom Mortgage talks about why home buyers need to examine all financing possibilities

Demystifying the mortgage process for consumersMike Cameron is CEO of Axiom Mortgage. What is Axiom and what does it do? Cameron: Axiom Mortgage is a national mortgage brokerage company. We offer a number of models for today's mortgage broker. We offer a full-service brokerage model for independent agents that want the best tools, technology and full-service support for compliance and…

Canada is squandering its intangible future

The digital economy is underpinned by a new class of non-physical assets. Why aren’t we investing in them?

Canada is squandering its intangible futureCanada is in danger of becoming a tenant nation, according to a recent Public Policy Forum report written by Sean Speer and Robert Asselin. Speer and Asselin describe a post-industrial Canada falling into a modern form of dependency where, although we generate world-class innovation, we lack essential infrastructure and/or skills to commercialize it. We’re simply…