Our commitment to senior customers
We value our senior customers
At Home Bank, we are here to offer support, so you can feel confident in your ability to bank no matter your age.
Home Bank shows our commitment to seniors by offering information and resources applicable to their unique needs and challenges.
Resources and information
Seniors Code Report - 2025
Fairstone Bank of Canada and its subsidiaries (collectively, “Fairstone”) values our senior customers, and as part of its commitment to support them, has adopted the Canadian Bankers Association’s (the “CBA”) Voluntary Code of Conduct for the Delivery of Banking Services to Seniors (the “Code”). The Code sets out principles to identify and address the unique challenges that seniors may face when they access banking services. Fairstone has appointed a Seniors Champion to promote and raise awareness of matters impacting seniors and provide guidance in the implementation of the Code. This public report as detailed below outlines the steps that Fairstone has taken to support the principles set out in the Code.
Details (Actions Taken)
Fairstone has implemented appropriate policies and procedures to support the Code:
- Identification of employee and management roles and responsibilities.
- Training for all employees, plus targeted modules for customer-facing employees.
- Identification of circumstances where seniors may require additional assistance with their banking activities.
- Identification and escalation of incidents of suspected financial abuse and fraud of seniors.
- Monitoring customer complaints and fraud claims to identify trends and typologies of issues related to seniors.
- Continuous review of financial risks faced by seniors.
- Integration of the Code into our Regulatory Compliance Management framework.
Fairstone has implemented measures to facilitate effective communication with seniors including:
- Training for employees and representatives on formats and delivery channels that can be easily accessed by and are available to seniors.
- Making customer communications available in formats that consider the needs of seniors; this includes making employees available to provide live assistance to seniors to help with navigation of our online services.
- Adherence to clear language principles to ensure that communications with all customers, including those directed towards seniors, are clear, simple and not misleading.
- Presenting consolidated information related to seniors (e.g., resources for seniors, powers of attorney, complaint handling procedures and duplicate statement requests) on Fairstone websites.
Fairstone provides Seniors Code training to employees and representatives, including mandatory online training, searchable intranet materials, and targeted email communications as needed related to:
- Compliance with the Code (7 Principles).
- Communicating with seniors.
- Available resources on matters relevant to seniors’ banking needs
- Detection and prevention of financial abuse and mistreatment, fraud and scams
- Fairstone’s Commitment on Powers of Attorney and Joint Deposit Accounts.
- Escalation processes for complaints and reports of fraud, financial abuse or scams
Fairstone has implemented training and made appropriate resources available to client-facing employees and representatives including:
- Training for all employees, plus targeted modules for customer-facing employees.
- Online training, searchable intranet materials, and targeted email training communications.
Fairstone has implemented processes to identify and mitigate potential financial harm for seniors and all customers, including:
- Anti-money laundering and fraud detection transaction monitoring to identify unusual transactions.
- Identity verification procedures to respect customer privacy and security.
- Identify and document indicators of potential financial harm to seniors.
- Ongoing enhancements to fraud detection and prevention strategies to protect customers from fraud.
- Ensure that new products and services are reviewed for potential financial harm to seniors.
- Implementation of an annual “Check your credit score day”, during which we remind Canadians of the importance of understanding one’s credit report and credit history, and the values of regular monitoring including early fraud identification.
Although Fairstone does not have branches applicable under this Principle, Fairstone would consider the needs of seniors in any decision taken to close a retail location.
Fairstone publishes this report annually to disclose steps that we’ve taken to support each principle of the Code and any other steps taken to improve the delivery of banking services to seniors.
Version April 2026
Powers of Attorney and Joint Accounts
Definition: POA
A Power of Attorney (POA) for Property is a legal document that provides an Attorney (the person named in the document) authority over all or some of the grantor’s property (including finances).
POA allows the Attorney to manage the property on the grantor’s behalf for the grantor’s benefit.
POA can be “specific” or “limited,” where the Attorney is authorized for a limited task (for example, sell a house) or for a specific period (for example, for a period that you – the grantor – are expected to be out of the country).
The POA can be effective upon execution, or it can start on a specific date or occurrence provided for in the document.
The requirements for a valid Power of Attorney for Property differ from province to province (and over time). Care must be taken to ensure that all formalities with respect to the creation of the document and the relationship have been met in the particular jurisdiction (province, territory or foreign jurisdiction).
Definition: Attorney
An Attorney for Property is a fiduciary, who, regardless of the form of Power of Attorney, is obligated to act as a fiduciary to the grantor of the Power of Attorney and exercises his or her duties diligently, honestly and with integrity for the benefit of the person (and therefore, unless otherwise expressly provided for in the document creating the power, not for the benefit of the Attorney himself or herself).
Types of POA
ENDURING OR CONTINUING POA
An enduring or continuing Power of Attorney expressly provides that the Attorney shall continue to act for the grantor if the grantor becomes mentally incapable of managing their property (including your finances).
Depending on the terms of the document, an enduring or continuing Power of Attorney can take effect as soon as it is signed (such that it is effective while the grantor is capable of managing their property), or it may require some additional event (such as, losing capacity to manage property) to occur.
In such case a medical note, provided by a physician, may be required proving that the document is now in effect.
Important: In the absence of language in the document that the Attorney is to continue to act should the grantor become incapable of managing their property, the relationship between the grantor and the Attorney is terminated if the grantor becomes mentally incapable of managing their property.
POA FOR PERSONAL CARE
A Power of Attorney for Personal Care identifies and provides authority to the person you select to make personal care decisions on your behalf upon you becoming incapable of making such determinations on your own.
The Attorney for Personal Care does not have to be the same as the Attorney for Property.
Important: Home Bank and Oaken Financial do not take instructions from Attorneys for Personal Care.
Home Bank and Oaken Financial Requirements
Overview
Home Bank and Oaken Financial will accept a Power of Attorney for Property (POA) that meets the following requirements:
- It is for property. We do not take instructions from Attorneys for Personal Care.
- It meets the provincial, territorial or foreign requirements of the location where it was signed, including being signed by the grantor in front of the requisite number of qualifying witnesses.
- It is either the original document, or a notarized or certified true copy of the original. A photocopy is not accepted.
- If the authority is granted only as a result of the incapacity of the grantor, proof of incapacity is required by the document (i.e., one or more medical opinions).
- Where more than one Attorney is named, all the required Attorneys must sign all the required documentation.
- If an alternate Attorney wishes to act, sufficient proof should be provided for the original Attorney’s inability to act.
Attorney(s) Requirements
Do’s and Don’ts
WHAT CAN THE ATTORNEY(S) DO?
- Transact business respecting the grantor’s property in all areas specified by the grantor.
- Potentially act as the replacement trustee on an “in-trust for” account where the grantor of the POA was the original trustee, however, prior to doing so additional steps may be required.
WHAT THE ATTORNEY(S) CANNOT DO?
- Link their banking info to a client’s account.
- Open GIC in joint names (POA and Grantor). View POA grid for additional scenarios.
Transfer funds into joint name from the grantor to grantor and POA. - Change or assign designations on registered plans (regardless of what is in the documentation).
- Act as POA for the grantor in respect of his or her fiduciary role as an estate trustee, executor or trustee of a formal inter-vivo trust without further information and confirmation from Oaken Financial.
- Transfer funds into their account (even for stated “probate planning purposes”).
- Undertake transactions for a corporate entity owned by a grantor of a POA – these must be undertaken by directors or proper signing officers of the corporate entity and require different documentation providing for such directors and signing officers drafted by counsel for the corporate entity.
More than one Attorney (authorized signing authorities and the provision of instructions)
Joint or no designation
REQUIREMENTS
- All Attorneys must execute all documents and provide all the instructions together. No one (or majority) is allowed to act without consent from all of the other Attorneys.
- All Attorneys must complete any required know-your-client documentation.
Designated jointly and severally
REQUIREMENTS
- The Attorneys may make decisions together or act separately, subject to any additional restrictions in the documentation.
- All Attorneys must complete any required know-your-client documentation.
- Home Trust or Oaken Financial will be under no obligation to contact any other Attorney in the face of an instruction from just one Attorney.
Designated requires a majority
REQUIREMENTS
- A majority must sign all the documentation.
- All Attorneys must complete any required know-your-client documentation, subject to any additional restrictions in the documentation (such as, a particular person being required to be in the majority, like a spouse).
- Home Trust or Oaken Financial will be under no obligation to contact any other Attorney in the face of an instruction from the majority.
Documentation from Attorneys
In every case, the Attorney(s) must provide the following:
- A completed Authorized Signatory Form
- A completed Investment Application or Letter of instruction (signed by the required signatories)
- Proper identification (as per our processes)
Application requirements
- Investment application should be in the name of the registered owner.
- Investment cheque should be from the client.
Unacceptable POAs
Home Bank and Oaken Financial will not accept any POA that:
- is unclear.
- Is for personal care only.
- Is from another financial institution.
- Has been superseded by another document.
- Requires Home Bank or Oaken Financial to monitor the Attorney’s activity(ies).
Power of Attorney Issues and Questions
If your activities related to power of attorney do not meet Home Bank’s requirements, we may refuse to carry out your instructions and advise you of our reasons for doing so. If you disagree with our reasons or have additional questions, you may refer to our Complaint Handling Procedures on the Home Bank website.
Accessibility
At Home Bank we believe in creating an environment that is accessible for all of our existing and future clients, including those with disabilities. We recognize that people with disabilities may have different needs and we work hard to provide the same level of customer service to all of our clients by providing barrier-free facilities and services in our branches, offices and online.
Accessible customer service
Home Bank offers accessibility for visually and hearing-impaired clients, the elderly and persons with restricted mobility through:
- Acceptance of local telephone relay service.
- Deposit advisors who will meet with clients at their home, in their office or other agreed upon locations.
- Online banking through Oaken.com.
Service animals
Service animals assisting our clients are always welcome in our offices and branches.
Support persons.
A client with a disability can be accompanied by a support person, which may include conducting banking business or attending a meeting.
Notice of temporary disruption
In the event of a planned or unexpected disruption to services or facilities for clients with disabilities, Home Bank will provide notice of the disruption. The notice will be in a conspicuous location and will include information about the reason for the disruption, its anticipated duration and a description of alternative facilities or services, if available.
Training of staff
Home Bank trains our employees on:
- Communicating with clients with various types of disabilities,
- Interacting with clients with disabilities who use an assistive device or require the assistance of a service animal or a support person; and
- Communicating and/or providing support to clients in a manner that is respectful of their disability.
*All resources are applicable for Home Bank, Home Trust Company and Oaken Financial.