Financial Services That Build Lifetime Customer Relationships
As the financial services arm of Canadian Tire Corporation, Ltd., Canadian Tire Bank (CTB) is primarily engaged in marketing the Canadian Tire Options® MasterCard® portfolio to four million Cardmembers. The Options MasterCard is accepted at more than 24 million locations worldwide, and offers its customers the ability to collect Canadian Tire 'Money'®, the faster way to collect Canadian Tire 'Money'.
CTB also markets a variety of optional products to more than six million customers. Our goal is to build life long relationships with Canadian Tire customers by providing products and services they truly value.
A part of the Niagara Community for over 40 Years
We began in 1961 as a small financial service company offering third-party credit processing for local retailers. Over the next two decades we provided support in the form of credit-processing facilities for the expanding, nation-wide network of Canadian Tire stores. Concentration of all our efforts on Canadian Tire during this period enabled us to rapidly develop the skills we needed for high-speed, high-volume transaction processing. We also subsequently changed our name, first to Canadian Tire Acceptance Limited and then to Canadian Tire Financial Services Limited (CTFSL).
In 1995, CTFSL became the first non-deposit taking, financial institution worldwide to launch a MasterCard called the Options MasterCard. Today, we have grown our MasterCard portfolio to four million cardmembers. In addition, in 2000 we expanded Canada's oldest and most recognized loyalty program, Canadian Tire 'Money' paper coupons, by launching the Canadian Tire 'Money' On The Card awards program.
CTB was established in 2003 and it acquired the MasterCard Portfolio from CTFSL.
CTB currently issues the Options MasterCard as well as the Options Visa*, Gas Advantage® MasterCard and Cash Advantage® MasterCard. It currently employs more than 1,600 people, with offices in Welland, St. Catharines, and Oakville, Ontario. We contribute significantly to Canadian Tire Corporation's annual profits, positioning us as an important player in the financial services industry. We operate state-of-the-art contact centres in Welland and St. Catharines, which provide world class customer service to our valued Canadian Tire customers nationwide.
We Believe in Keeping Customers for Life
Canadian Tire Bank's philosophy is keeping "Customers for Life," and we are committed to providing customer service excellence to our customers and shareholders through the provision of value-added products. Combining the latest in technology with a strong "Values" system, we are building an impressive rate of growth and success. We are committed to achieving growth and innovation through a culture where all employees are encouraged to perform at the top of their game.
Our business is built on four key strategies:
We are success driven, operating at a national level, within a thriving community. Creating a performance culture while promoting personal fulfillment is at the heart of what we do every day.
A culture where all employees are encouraged to perform at the top of their game. Read more on Diversity and Inclusion at CTFS.
2016 Year in Review
For 2016 business highlights and video messages from Canadian Tire Corporation and Canadian Tire Financial Services Executive Teams, visit yearinreview.canadiantirecorporation.ca