Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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1983
Allegations in later commentary about Richard Higgins
Walter Stewart's 1983 Empire Club speech portrayed former president Richard Higgins as involved in serious wrongdoing and stated that he eventually went to jail. The available reference does not provide independent details about charges, conviction, or the connection to Unity Bank's financial problems.
1977
Problem loans and liquidity crisis
Unity Bank experienced problem loans and creditor withdrawals after its financial difficulties became known. The Bank of Canada provided temporary liquidity support for three months. The episode was unusual in Canadian chartered-banking history.