Question 1

What is Bridgewater Bank?

Accepted Answer

Bridgewater Bank is a Canadian Schedule I chartered bank headquartered in Calgary, Alberta, specializing in residential mortgages and deposit products. The bank manages over CAD 3.3 billion in residential mortgages and deposits, representing more than 53,000 accounts across Canada.

Established as a wholly-owned subsidiary of the Alberta Motor Association (AMA), the largest membership service organization in Alberta, Bridgewater Bank operates exclusively through a select network of trusted mortgage brokers and deposit brokers. The bank focuses on providing competitive residential mortgage solutions and GIC products with an emphasis on personalized service.

Question 2

When was Bridgewater Bank founded?

Accepted Answer

Bridgewater Bank was established in 1997 as a wholly-owned subsidiary of the Alberta Motor Association (AMA). The bank was created to serve mortgage brokers and their clients, filling a niche in Canada's alternative lending market.

Over 25 years of operations, Bridgewater Bank has built its reputation on providing flexible mortgage solutions for borrowers who may not fit traditional lending criteria. The bank has maintained its original broker-focused business model while continuously expanding its product offerings and service capabilities.

Question 3

Where is Bridgewater Bank headquartered?

Accepted Answer

Bridgewater Bank is headquartered in Calgary, Alberta, at Suite 150, 926 – 5th Avenue SW, Calgary, Alberta T2P 0N7. The bank maintains its strong Western Canadian roots while serving clients across the entire country.

The Calgary headquarters houses the bank's executive leadership, underwriting teams, and broker support services. Customer and broker inquiries can be directed to 1-866-243-4301 within Canada/USA or 1-403-817-7000 for international calls.

Question 4

Where does Bridgewater Bank operate?

Accepted Answer

Bridgewater Bank operates across all provinces and territories of Canada, serving residential mortgage clients and depositors nationwide through its broker network. While headquartered in Calgary with Western Canadian roots, the bank has expanded its reach to serve customers from coast to coast.

The bank's operations focus on markets throughout Canada, with particular strength in serving self-employed individuals, rental property investors, and borrowers outside major urban centers who may need more flexible lending solutions than traditional banks offer.

Question 5

What services does Bridgewater Bank offer?

Accepted Answer

Bridgewater Bank specializes in residential mortgage products including solutions for self-employed borrowers, rental property financing, and clients with bruised credit. The bank offers flexible debt structuring and bank statement programs for self-employed clients who earn income in unconventional ways.

On the deposit side, Bridgewater Bank provides competitive Guaranteed Investment Certificates (GICs) and deposit products through broker channels. The bank's mortgage solutions include options for properties in smaller communities and rural areas, with a lending range larger than most alternative lenders.

Digital services include online account management and modern banking platforms, though the bank maintains its commitment that "no amount of automation can replace human touch." Bridgewater Bank emphasizes responsive service with underwriting teams known for quick approvals and creative problem-solving.

Question 6

What makes Bridgewater Bank unique?

Accepted Answer

Bridgewater Bank distinguishes itself through its exclusive broker-only business model and its philosophy of treating customers "practically like family." The bank shares values with its parent company AMA, including commitment to superior, personal, expert service with integrity.

The bank specializes in understanding "real-life is imperfect" situations, providing solutions for borrowers with complex income structures, non-traditional employment, or credit challenges. Being a smaller Schedule I bank makes Bridgewater nimble, enabling quick responses with innovative approaches that don't require multiple levels of approvals.

Bridgewater Bank's reputation for common-sense lending, flexible documentation requirements, and solution-oriented underwriting has earned praise from brokers across Canada. The bank maintains an award-winning team recognized for service excellence and commitment to helping brokers succeed.

Question 7

What type of financial institution is Bridgewater Bank?

Accepted Answer

Bridgewater Bank is a Canadian Schedule I chartered bank, the highest category of banks in Canada, indicating it is domestically owned and federally regulated by the Office of the Superintendent of Financial Institutions (OSFI).

As a Schedule I bank, Bridgewater Bank operates with full banking privileges under federal oversight, though it focuses specifically on the residential mortgage and deposit market segments. The bank's specialized focus on alternative mortgage lending and broker relationships distinguishes it from full-service retail banks in the Canadian banking system.

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