Canadian Tire Financial Services Canadian Tire Financial Services functions as the Canadian Tire Corporation financial services arm. The latter is engaged in retail and services and operates Canada's largest independent network of gasoline stations. According to Canadian Tire Financial Services, its ultimate goal is to establish relationships with customers of the Canadian Tire by offering true value financial services and products. The Canadian Tire Financial Services touts its philosophy to be "Customers for Life". It aims to achieve this goal by building on four key principles: thorough knowledge of customers and their needs, development of new services in recognition of what clients want, timely alignment of customer to service, and a standard of service, quality, and value that would make customers want to maintain a relationship. In 1961, the company started as a small financial service entity. Its origin was rooted in providing third-party credit processing for Canadian retailers. During the next 20 years, Canadian Tire Financial Services eventually grew to provide support through credit-processing facilities for the network of stores run by Canadian Tire. The focus on Canadian Tire over the period led to the rapid development of skills needed transaction processing. By 1995, Tire Financial Services developed into the first Canadian non-deposit financial institution that launched a MasterCard. This card was created under the name Options MasterCard, which currently has four million members. Eight years later, the Canadian Tire Bank was established. This banking structure is a CTFS subsidiary and functions under federal legislation. Canadian Tire Financial Services has over 1,600 employed officials. Its offices are located in Ontario, Welland, Burlington, and St. Catharines. The quality service offered by the company has been recognized repeatedly garnering the award “Best Call Centre in North America” by the Service Quality Measurement Group Inc. Canadian Tire Financial Services offers the Canadian Tire Options MasterCard, as well as insurance services, lines of credit, personal loans and mortgages. Canadian Tire Financial Services is mainly engaged in marketing the Canadian Tire Options MasterCard portfolio to its members. The Options MasterCard can be used in more than 24 million locations globally and allows holders to participate in the awards loyalty program. The company has other products aside from the Options MasterCard. Among these are the Gas Advantage MasterCard, a reward program for gas purchases of Canadian Tire gas bars, Cash Advantage MasterCard, Vacation Advantage MasterCard, and Curve MasterCard. Apart from its products, Canadian Tire Financial Services engages in insurance and other related activities. These are underwritten by third party insurance companies. The Credit Protector is designed to protect the clients’ minimum monthly payments up to a certain amount should they become unemployed or unable to work. The company also pays the remaining balance if the holder or his or her spouse passes away or becomes terminally ill. Similar to this service is the Credit Protector Senior, which applies to members aged 66 to 75 years old. The Term Life Insurance offers life insurance protection while the Accident Plus provides coverage for accidents, helping to cover medical costs not covered by provincial insurance. Canadian Tire Financial Services also offers Travel Insurance that covers single or multiple trips.