Canadian Tire Financial Services
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Canadian Tire Financial Services (CTFS) is the Financial Services arm of Canadian Tire.
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[edit] History
CTFS began in 1961 as Midland Shoppers Credit Limited, a small company offering third-party credit services. In its early years, many Canadian Tire stores in Ontario had signed onto its program. In 1968, the company was purchased by Canadian Tire and re-named Canadian Tire Acceptance Limited. In 1995, it began issuing a MasterCard, becoming a non-deposit taking, financial institution.
In 2002, Canadian Tire Acceptance Limited became a bank and therefore changed its name to Canadian Tire Financial Services.
In October 2006, CTFS began a pilot project in two Canadian municipalities to offer more traditional banking services to the public. In Kitchener-Waterloo, Ontario and Calgary, Alberta, customers can visit Canadian Tire stores and obtain information on opening up a savings account, a GIC account or obtaining mortages directly from Canadian Tire Financial Services.
[edit] Products
[edit] Options Mastercard
The Canadian Tire Options MasterCard offers benefits similar to those offered by conventional MasterCards, while also offering Canadian Tire “Money” on-the-card, similar in nature to many loyalty programs offered on other credit cards. They also offer special promotions from time to time such as a rebate promotion in partnership with MDG Computers.
[edit] One-and-Only Account
The One-and-Only account provides an account that allows users to roll their Mortgage and other lending accounts with their day-to-day banking accounts.
[edit] High Interest Savings Account
The High Interest Savings Account is similar to other high interest accounts by offering a higher interest rate per dollar to conventional savings accounts.
[edit] Other Products
CTFS also offers GICs and Mortgages. All their deposit accounts are insured by the Canadian Deposit Insurance Corporation
[edit] External links
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