TORONTO, Nov. 24, 2022 /CNW/ - HomeEquity Bank, provider of the CHIP Reverse Mortgage, is pleased to announce it has been recognized in the Waterstone Human Capital Most Admired™ Corporate Cultures list for the first time. Canada's Most Admired Corporate Cultures is a national program, now in its 19th year, that annually recognizes best-in-class Canadian organizations for having cultures that have helped them enhance performance and sustain a competitive advantage.

HomeEquity Bank was named to the list in the Mid-Market category following an in-depth assessment ranging from the organization's vision and leadership to corporate social responsibility initiatives. 

"Being recognized as one of Canada's Most Admired Corporate Cultures is a testament to our team and their commitment to live our values every day with each other and with our customers," says Steven Ranson, HomeEquity Bank President and Chief Executive Officer. "I look forward to continuing to work together to fulfill our purpose of helping Canadian homeowners aged 55 plus enjoy a financially secure retirement in the home they love."

In 2021 HomeEquity Bank experienced an increased need for new talent to support its record-breaking volumes and exceeded growth expectations. Amidst pandemic uncertainty, it surpassed $1B in reverse mortgage originations (a 28% increase over 2020) and growth continues through 2022 as Canadian homeowners continue to seek retirement income solutions by accessing the equity in their home. To meet the demand for new and diverse talent, the Schedule 1 bank extended recruitment capacity and increased head count by more than seven per cent. 

"HomeEquity Bank supports a dynamic culture, always with people at its core. To ensure this, we emphasize inclusion, flexibility and community," says Sherry Dondo, Senior Vice President and Chief Human Resources Officer. "The people-focused culture we embrace is immediately evident to new employees and yes, we are hiring." 

"At Waterstone we believe corporate culture drives performance and that it's your organization's single greatest asset," says Marty Parker, President and CEO of Waterstone Human Capital and Chair of the Canada's Most Admired™ program. "The 2022 award recipients demonstrate that putting culture at the center of your strategy drives growth and accelerates performance. They actively craft high-performance cultures that drive extraordinary results and serve as an inspiration for others who want to do the same."

This latest accolade come on the heels of HomeEquity Bank being named a recipient of the Canadian Mortgage Professional (CMP) Best Employers Award for the past two years, achieving over 80% satisfaction on CMP's employee survey, and being recognized as an Excellence Awardee for the Wealth Professional Employer of Choice Award 2022. HomeEquity Bank was also named as one of Canada's Top Growing Companies by the Globe and Mail Report on Business for the third time in 2022.

HomeEquity Bank is a Schedule 1 Canadian Bank offering a range of reverse mortgage solutions including the flagship CHIP Reverse Mortgage™ product. The company was founded more than 35 years ago to address the financial needs of Canadians who wanted to access the equity of their top asset – their home. The Bank is committed to empowering Canadians aged 55 plus to live the retirement they deserve, in the home they love. HomeEquity Bank is a portfolio company of Ontario Teachers' Pension Plan Board, a global investor that delivers retirement income for 333,000 current and retired teachers in Ontario. For more information, visit www.chip.ca

At Waterstone Human Capital, we inspire organizations to build high performance cultures. We're a human capital management consulting firm specializing in retained executive search, cultural measurement and assessment, and leadership training and development. We have successfully helped hundreds of entrepreneurial-minded, high-growth organizations across North America recruit, measure, and train for fit. Waterstone is also the founder of the Canada's Most Admired™ Corporate Cultures and Canada's Most Admired™ CEO programs. These national programs annually recognize best-in-class Canadian organizations and CEOs, for fostering cultures that enhance performance and help sustain a competitive advantage.

For more information, please visit waterstonehc.com or canadasmostadmired.com.

SOURCE HomeEquity Bank

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