History | CIBC (2024)

FAQs

What is the history of CIBC Bank USA? ›

From the Online Banking home page under “Settings”, select “Statement Preferences”. Select “Edit Preferences” and then "eStatement". Your eStatements will appear in the CIBC Message Centre. You can also get your eStatements sent to your email address or your phone via SMS.

The largest merger of two chartered banks in Canadian history happened on June 1, 1961 — The Canadian Bank of Commerce (established 1867) and the Imperial Bank of Canada (established 1875) merged to form the Canadian Imperial Bank of Commerce (CIBC).

CIBC ranked #1 in Customer Satisfaction for Small Business Banking in the J.D. Power 2023 Canada Small Business Banking Satisfaction Study, outperforming peers across many factors, most notably in people, level of trust and problem resolution.

CIBC and its affiliates including CIBC Bank USA, US Commercial Real Estate and Real Estate Finance, and CIBC Private Wealth have offices strategically located across the United States to serve clients coast to coast.

Canadian Commercial Banking and Wealth Management provides high-touch, relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs and high-net-worth individuals and families across Canada, as well as asset management services to institutional investors.

We also use ratings from the Better Business Bureau to see how banks deal with customer issues. The BBB gave CIBC Bank USA an A+ rating.

Online documents

They're kept online for 7 years.

Banks are required by law to keep most records for at least five years, although many banks and financial institutions usually keep their members' account statements available for up to seven years.

In December 2006, CIBC acquired majority control of its publicly held joint venture FirstCaribbean International Bank for just over US$1 billion, (Bds$2 billion), when it purchased the 43.7% stake owned by Barclays Bank.

Why is CIBC a good bank? ›

Who CIBC is best for. Canadians who want to keep all their finances in one place, value online banking, and like the option of in-person banking. CIBC has product offerings that are similar to the other big banks, offering account bonuses, rewards and discounted fees.

Canadian Imperial Bank of Commerce (CIBC) – $975.7 billion

They are all Schedule I banks and some of the biggest banks in the world. RBC and TD are also on the list of Systemically Important Banks put out by the Financial Stability Board.

The settlement, approved by the Ontario Superior Court of Justice in March 2023, provided that CIBC pay (without any admission of liability) $153 million to settle the case. A copy of the court order approving the settlement can be found at www.cibcunpaidovertime.ca.

Your money, our promise

It's simple: if you've been a victim of fraud, and you've met all of your responsibilities, we promise to return 100% of the money you've lost from your CIBC accounts.

Largest shareholders include Royal Bank Of Canada, Bank Of Montreal /can/, Vanguard Group Inc, Toronto Dominion Bank, Bank Of Nova Scotia, Td Asset Management Inc, CIBC World Markets Inc., National Bank Of Canada /fi/, CIBC Asset Management Inc, and Healthcare Of Ontario Pension Plan Trust Fund .

Yes. CIBC Bank USA is a member of the Federal Deposit Insurance Corporation (FDIC).

Summary. Canadian Imperial Bank of Commerce (CIBC) ranks 131st in the Financial System Benchmark. In comparison to other banks, it ranks 71st out of 155. Furthermore, it ranks 25th out of 138 assessed financial institution headquartered in Northern America.