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Canada Trust
From Wikipedia, the free encyclopedia
CT Financial Services Inc. was a financial services holding company that was founded in London, Ontario and later had its headquarters in Toronto, Ontario and operated in Canada through subsidiaries including Canada Trustco Mortgage Company and The Canada Trust Company.
In the United States, CT Financial operated through First Federal Savings and Loan Association. First Federal was founded in 1896, and operated through 82 branches throughout New York State.
Canada Trust was a trust company that offered the same services as a bank. It was one of Canada's largest non-bank financial institutions, with $38 billion in deposits and $176 billion in assets. It had 11,000 employees and 3.5 million customers and operated a network of 413 branches across Canada; and almost 1,000 automated banking machines. Its banking machines were, at one point in the late 80s/early 90s, called Johnny Cash Machines. They were even promoted with lifesize cutouts of Johnny Cash asking the question, "Why walk the line?", a reference to one of his hit songs.
CT Financial also operated other divisions including Truscan Realty Limited, CT Insurance Limited and Canada Trust Bank N.V.
On February 1, 2000, Toronto-Dominion Bank completed its $8 billion acquisition of CT Financial Services Inc from IMASCO forming TD Canada Trust.