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Haventree Bank

Haventree Bank is a Toronto Schedule I bank that lends to borrowers the big banks turn down — self-employed, newcomers and people with bruised credit — and funds itself with GICs. It took its banking licence in 2018 and launched direct-to-consumer chequing and savings in July 2026.

FintechTorontoFounded 2018haventreebank.com
2018obtained its Schedule I banking licence and renamed from Equity Financial Trust to Haventree BankBetaKit, 2026-07-07

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About

Haventree was incorporated as Equity Financial Trust and became Haventree Bank in 2018 when it obtained a Schedule I banking licence. Its business is alternative mortgage lending — B-lending, for borrowers whose income or credit history does not fit the big banks' rules — funded on the deposit side by GICs sold through advisors. Demand for that lending has grown as affordability worsened and qualifying rules tightened. On 7 July 2026 the bank opened a direct-to-consumer channel: an online bank and app with a hybrid chequing-and-savings account carrying no monthly fee or minimum balance, putting it alongside EQ Bank and Wealthsimple. Fern Glowinsky has been president and CEO since February 2023.

Backers

A federally regulated Schedule I bank, not a venture-funded company; deposits are funded through GICs.

Some figures are founder-stated, not independently confirmed

Quick answers

What does Haventree Bank do?

It is a Canadian Schedule I bank specialising in alternative mortgages for borrowers who do not qualify at the big banks — the self-employed, newcomers, and people with damaged credit — funded by GICs, and since July 2026 by retail chequing and savings deposits.

Is Haventree a real bank?

Yes. It holds a Schedule I banking licence, granted in 2018 when it renamed from Equity Financial Trust.

Who runs Haventree Bank?

Fern Glowinsky has been president and CEO since February 2023. She previously led Merrco Payments and spent 15 years as a senior executive at Moneris.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 30, 2026