Zag Bank was originally founded in 2003 as Bank West, a federally regulated bank and was acquired in 2011 by Desjardins Group. In 2014, Desjardins Group relaunched Bank West as Zag Bank and repositioned it as a direct bank, offering a suite of financial products through mobile and online applications. In late 2016, Zag Bank purchased the Autofinco Inc. business, with loans fully transitioning to Zag Bank on February 1, 2017.
Desjardins Group is the leading cooperative financial group in Canada and the sixth largest cooperative financial group in the world, with assets of more than $260 billion. It has been ranked one of the Best Employers in Canada by Aon Hewitt. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Counted among the world’s strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.
Our association with Desjardins Group is an assurance of our strength as a financial institution and speaks volumes about what Zag Bank can do for you today and well into the future.