Retirement planning
Expert advice to help you determine the right investment vehicle for your life stage and goals.
Resources for seniors
We believe in relationships not transactions
We recognize seniors’ crucial contributions to our communities. They’re our parents, grandparents, mentors, colleagues and neighbours, and we can all play a role in keeping them safe. As a financial institution, CWB has an obligation to help protect seniors from financial abuse, fraud and scams. We do this through establishing genuine, caring and lasting relationships. We’re invested in you. And supporting your financial well being is our top priority. We offer seniors exclusive products, trusted advice and helpful resources that support your financial needs today and help safeguard you for tomorrow.
Planning services
Gold Leaf PLUS Account
Gold Leaf PLUS® Account
When you reach a certain age, you should expect certain perks. This comprehensive account is specifically crafted for clients aged 57 and over, offering great additional services and benefits. Enjoy all the features of an all-inclusive account with no monthly fee.
Policies you can rely on and values you can trust
As a member of the Canadian Bankers’ Association, CWB adheres to the voluntary Code of Conduct for the Delivery of Banking Services to Seniors. The code sets out principles that apply to banks when they are delivering banking products and services to Canada’s seniors.
The code provides CWB with a formal structure to ensure our policies and practices continue to meet the diverse needs of seniors and their trusted advisors. As we apply these and other policies across our business you can trust that CWB will be guided by our leading value to put people first.
Ways to protect your financial wellbeing
If you’re worried about your ability to handle your affairs in the future or want to plan for unforeseen life events, you may want to consider assigning a Power of Attorney or opening a joint account. There are benefits and risks involved with both options. And you should never feel pressured into either.
A Power of Attorney is a legal document you sign to appoint another person or people to act on your behalf and in your name. The individual(s) you appoint is called the “attorney” but the person does not need to be a lawyer. You control how many or how few activities that individual can manage—such as paying your bills, managing your legal matters or the full administration of your financial affairs. You can obtain a Power of Attorney document from a legal professional or other sources. CWB also has a Power of Attorney form that is limited to your transactions with us. If you are considering this option, we recommend speaking with a legal advisor to ensure there are no conflicts and that it’s the right choice for your needs.
Joint bank accounts are owned by two or more individuals and grant each individual equal access to deposit, withdraw and transfer funds, unless stated otherwise. Similarly, both people are responsible for any transactions made on the account. It’s important to fully understand the rules of joint ownership if you’re considering this option.
To learn more about the benefits and risks associated with Powers of Attorney and Joint Bank Accounts, visit the Government of Canada’s website: What every older Canadian should know about: Powers of attorney (for financial matters and property) and joint bank accounts.
Accessible banking options
Your accessibility needs may vary throughout your life and can change with age. We make it a priority to ensure seniors and people with disabilities have equal access to our programs and services. When it comes to accessibility, we consider everything from the design of our public spaces and products, to how we communicate and share information.
Banking centers: All CWB banking centers are equipped with automatic doors, wide entranceways, wheelchair accessibility, and various sit-down banking options. Our employees also strive to communicate in whichever way works best for you. We support the use of personal assistive devices, service animals or other support persons as may be needed to access our products, services or facilities.
Online banking: Many older adults are discovering the benefits and simplicity of online banking. It’s a safe and convenient way to bank, especially if mobility or other health risks are a factor. Speak with a CWB team member to learn more.
Communication materials: We understand some clients may need alternate formats to our standard printed materials. This may take several forms depending on your needs. Let us know if you require an alternate accessible format for a document.
Protecting yourself from common scams
There are three main ways scammers may target seniors—fraud, email phishing and telephone phishing. “Phishing” is when a scammer poses as a legitimate institution or individual to lure you into providing personal information like a password or banking details. Here are some examples to be aware of:
Caller ID spoofing scammers can fake the name or number that shows up on your phone’s caller ID to make you think the call is from a trusted source, like a bank or government office.
Canada Revenue Agency scams are false claims about unpaid balances or an extra refund from CRA that are designed to get your banking details or personal information.
Beware of post-tax season CRA Scams! Three steps to take if you get a call claiming to be from the CRA.
Fake emergency scams. A con artist may phone, text or email pretending to be a friend, grandchild or other relative in urgent need of money.
To learn more about scams, how to spot them and how to protect yourself, we recommend reading The Little Black Book of Scams, published by the Competition Bureau Canada.