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Private company

Canadian Tire Financial Services

Logo: Canadian Tire Financial Services, Public domain, via Wikimedia Commons3

Financial services subsidiary of the Canadian Tire retail chain

Canadian Tire Services Ltd. (CTSL), doing business as Canadian Tire Bank (French: Banque Canadian Tire), is the financial services subsidiary of the Canadian Tire retail chain. The bank is based in Oakville, Ontario, and has additional business operations in St. Catharines and Welland, Ontario. Between 1968 and 2016 (with some branding continuing until 2018), Canadian Tire Services Ltd. was known as Canadian Tire Financial Services Ltd. (CTFS or CTFSL).2 It employed 1,600 people.1 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

1968Founded1

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Canadian Tire Financial 002 (cropped)
Photo: Whpq, CC BY-SA 4.0, via Wikimedia Commons5

Canadian Tire Services Ltd. (CTSL), doing business as Canadian Tire Bank (French: Banque Canadian Tire), is the financial services subsidiary of the Canadian Tire retail chain. The bank is based in Oakville, Ontario, and has additional business operations in St. Catharines and Welland, Ontario. Between 1968 and 2016 (with some branding continuing until 2018), Canadian Tire Services Ltd. was known as Canadian Tire Financial Services Ltd. (CTFS or CTFSL).2

Corporate structure

Canadian Tire Financial Services is part of a group headed by Canadian Tire. 9 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Canadian Tire Toronto, Ontario, Canada
    • Canadian Tire Financial Services Oakville
    • Mark's Subsidiary · Calgary
    • Sport Chek Subsidiary · Calgary
    • Sports Experts Subsidiary
    • Victoriaville Subsidiary
    • CANADIAN TIRE BANK Subsidiary · Oakville, Ontario, Canada
    • PartSource Subsidiary · Canada
    • CT REAL ESTATE INVESTMENT TRUST Fund · 68.4% · Toronto, Ontario, Canada

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

The story

In 1968, Canadian Tire purchased Midland Shoppers Credit Limited, a small company founded in 1961 to provide third-party credit processing for local retailers in the Niagara Region. After its acquisition, the company was renamed "Canadian Tire Acceptance Limited (CTAL)", and later "Canadian Tire Financial Services Limited".

Canadian Tire Bank (CTB), a Schedule 1 (domestic, deposit-taking) bank under the Bank Act, was founded in 2003 and took over financial services that had been provided by CTFS. In addition to Mastercard credit card services, Canadian Tire Bank also launched high interest savings accounts, tax-free savings accounts, and GIC products.

In 2014, Scotiabank signed a deal to buy a 20 percent stake in Canadian Tire's financial services business, which includes Canadian Tire Bank, for $500 million in cash as part of a strategic partnership between the two companies under which Scotiabank was also permitted to buy up to an additional 30% (or sell back to Canadian Tire its 20% stake) at the then fair market value within 10 years.

In 2023, Canadian Tire repurchased the 20 percent stake that Scotiabank had owned for $895 million, restoring its ownership to 100%.

From Wikipedia’s article on Canadian Tire Financial Services, shared under CC BY-SA 4.0.4

Products and brands

  • Canadian Tire money

Listed on Wikidata.1

In October 2006, CTB began to offer more traditional banking services over the phone or online. Such offerings included, as of 2019:

Savings accounts

Tax-free savings accounts

Guaranteed investment certificates

Read the full text

The bank used to offer mortgages, but in October 2009, CTB sold its residential real estate secured lending portfolio of approximately 1,000 mortgages valued at approximately $167 million to National Bank of Canada and no longer offers mortgage products.

All deposit products are automatically insured to applicable limits by the federal crown corporation Canada Deposit Insurance Corporation (CDIC).

From Wikipedia’s article on Canadian Tire Financial Services, shared under CC BY-SA 4.0.4

Subsidiaries and ownership

Parent company

From Wikidata.1

Timeline

  1. 1968Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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