Unity Bank of Canada
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The Unity Bank of Canada was a small Canadian bank that was established in Toronto, Ontario, in 1972. Richard Higgins was president and David Matthews was general manager. It amalgamated with the Provincial Bank of Canada on February 14, 1977.
By September 1975, the bank had 23 branches in Quebec, Ontario, British Columbia and Alberta.<ref>Montreal Gazette, Spetmeerb 30, 1975, Appointment notice, p.26</ref>
In 1977, the Unity Bank experienced problem loans, and large creditors withdrew funds when they became aware of the bank's financial problems. The Bank of Canada advanced funds to provide liquidity support over a three-month period. Historically, very few chartered banks in Canada have experienced liquidity crises.<ref>Fred Daniel, Walter Engert and Dinah Maclean, The Bank of Canada as Lender of Last resort", Bank of Canada Review, Winter 2004–2005, p.8</ref>
Journalist Walter Stewart alluded to Unity Bank's troubled history in a 1983 speech to the Empire Club: Template:Quote
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