Canadian Tire revolutionizes mortgage banking for Canadians



    Canadian Tire One-and-Only(TM) takes years off a mortgage and saves
    thousands of dollars in interest payments

    TORONTO, Sept. 4 /CNW/ - Canadian Tire Financial Services Limited, a
wholly-owned subsidiary of Canadian Tire Corporation, Limited (CTC, CTC.a)
today launched an innovative new banking product in the three pilot markets of
Kitchener-Waterloo and London, Ontario and Calgary, Alberta. The Canadian Tire
One-and-Only account ("The Account"), offered by the subsidiary Canadian Tire
Bank, enables Canadians to take years off their mortgage and save thousands of
dollars in interest payments.
    The Account allows people to combine their mortgage, chequing and savings
accounts, plus loans and credit card balances, into one easy-to-use account,
all with no set-up or transaction fees, plus they'll earn bonus Canadian Tire
'money'. Any funds deposited into the account, like one's pay, immediately go
towards paying down the mortgage and reducing the debt load and as a result
could also result in significant reductions in interest payments.
    "We know from our consumer and market research that as the size of the
average mortgage continues to grow, so does every Canadian's desire to pay off
that debt as quickly as possible" said Marco Marrone, president, Canadian Tire
Financial Services. "With the new Canadian Tire One-and-Only account, we are
offering homeowners a solution to help them reach their goal of paying off
debt faster so they can spend their money on the things they really want to."
    To enable customers to see just how much money they can save and how much
faster they can pay off a mortgage using a Canadian Tire One-and-Only account,
Canadian Tire Bank has launched a new website MortgageInYourWay.com. The site
offers customers detailed information on the Account and an interactive
calculator called the 'Mortgage-Free Faster Tool'. Customers can input their
own unique financial information to see the long-term benefits of depositing
pay, savings and/or investments directly into this account.
    As a member of The Exchange(R) ABM network, Canadian Tire Bank offers its
customers access to over 2200 ABMs across Canada featuring the Exchange(R)
logo. Customers can also use full-functioning ABM's in participating Canadian
Tire stores in the three pilot markets. Customers can easily make withdrawals
or deposits on their Canadian Tire One-and-Only account through one of these
ABMs, by cheque, by phone and online at myCTFS.com. Using their access card,
customers can also make direct payment purchases at any retailer across
Canada.
    The Canadian Tire One-and-Only account is now available to residents in
Ontario and Alberta.

    Canadian Tire Corporation, Limited (TSX: CTC, CTC.a), operates an
inter-related network of businesses engaged in retail, financial services and
petroleum. The Company operates more than 1,100 stores, gas bars and car
washes, including the country's most-shopped general merchandise retailer.
Canadian Tire Financial Services manages approximately 4 million Canadian Tire
MasterCard accounts and markets related financial products and services for
retail and petroleum customers. More than 50,000 Canadians work across
Canadian Tire's organization from coast-to-coast in the enterprise's retail,
financial services, and petroleum businesses.





For further information:

For further information: Lisa Gibson, Manager, Media and Public
Relations, Canadian Tire, (416) 544-7655, lgibson@cantire.com

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Canadian Tire Corporation, Limited

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