October 13, 2006
Canadian Tire to launch banking products
Toronto, Ontario – Canadian Tire Financial Services Ltd., a wholly-owned subsidiary of Canada Tire Corporation, has launched a limited pilot of new retail banking products, including high interest savings accounts, variable and fixed-rate mortgages, and guaranteed investment certificates. The pilot services will be launched in Calgary, Alberta and Kitchener-Waterloo, Ontario.
The banking products will be advertised through a variety of channels, including television, outdoor billboards, online, Canadian Tire flyers, direct mail and in-store promotion.
“The pilot we have launched today will explore the potential to leverage our strengths and grow our business by deepening our customer relationships with new value-added products,” says Marco Marrone, president of Canadian Tire Financial Services. “Our pilot has been structured in a comprehensive manner, but as we always do when introducing new products to the marketplace, we will test and learn over a period of time in a measured fashion, potentially adding additional financial products in the first half of 2007 as part of the pilot.”
The financial products will be provided by Canadian Tire Bank, a wholly-owned subsidiary of Canadian Tire Financial Services.