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Bank Helps Charities and Overseas Missions
A bank that supports small- to medium-sized enterprises, emphasizes helping churches and Christian mission efforts.

The Lord has helped us bless charities,” says Randy Dewy, vice-president of business development for the Jameson Bank. That might not be the first thing one expects to hear from a vice-president of one of the largest foreign exchange specialists in Canada. But in fact Jameson Bank does make assisting the charitable sector one of its emphases, along with handling billions of dollars in commonly traded currencies throughout the world.

… the first of its kind in Ontario to be owned by individuals rather than by a co-operative.

“We’re in a unique spot in the marketplace,” says Dewy. “Our system supports small- to medium-sized enterprises. That’s our business platform. The vast majority of our employees are Christians and our CEO, James Lau, is as well. We have a real emphasis on helping charities, including Christian mission efforts and churches. We have special programs to help move money to missionaries around the world. In addition, where donations are being moved to different countries, we help these organizations save on the exchange of money into other currencies. Our programs drive costs down in money movement.”

Since 1989 the institution has been doing business as Jameson International Foreign Exchange Corporation, helping clients manage the risks of foreign currency fluctuations. In July 2008 it changed its name to Jameson Bank, becoming Canada’s 22nd federally regulated (Schedule I) bank, Canada’s first treasury bank (does not deal with credit) and the first of its kind in Ontario to be owned by individuals rather than by a co-operative.

With head offices in Toronto and branch offices in Montreal, Ottawa, London, Burlington and Calgary, Jameson Bank is conducted on an electronic platform “so we don’t need branches everywhere,” according to Dewy. It employs 80 people and is fully insured under the Canadian Deposit Insurance Corporation. Although its advertising is limited mainly to word of mouth and trade shows, Dewy says: “We’ve been growing at compounded rates. We have great programs that can benefit churches and charities.”

Originally published in Faith Today, March/April 2009.

 

 
 
 
 

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