MCAN FINANCIAL GROUP

MCAN is a Loan Company under the Trust and Loan Companies Act (Canada). As a Loan Company, the Company is subject to the guidelines and regulations of the Office of the Superintendent of Financial Institutions Canada (OSFI). This means that our business policies and operations are conducted in accordance with the rigour expected by OSFI for financial institutions. This also means that we have access to raise funding for our balance sheet from term deposits that are insurable by the CDIC. We have been issuing low-cost term deposits since 1993 as a primary funding source for our business... MCAN is a Mortgage Investment Corporation (MIC) under the Income Tax Act (Canada). Working within the criteria permitted for MICs, we strive to provide our shareholders with consistent and stable dividends. As a MIC, we are entitled to deduct the dividends we pay to shareholders from our taxable income. Being a MIC also means that our operating leverage is lower than other regulated financial..

Also known as: MCAN, MCAN Financial, MCAN Home Mortgage Corporation

Primary location: Toronto