Sears Canada Bank
Encyclopedia : S : SE : SEA : Sears Canada Bank
Sears Bank of Canada was created to service the Sears cards issued by Sears Canada. The company does not provide any other financial services. The retailer's banking arm is now owned by JP Morgan.
History
Sears Canada was founded in 1953 by Sears Roebuck of Chicago and operating under joint ventures with Simpsons Ltd. as Simpsons-Sears. It later ended the relationship and began to build on its own. It later acquired Simpsons stores through bankruptcy in the 1990s. Sears Bank was established in 2003 by the Office of the Superintendent of Financial Institutions (OSFI).Services
Services provided by Sears Canada Bank:
- Sears Card
- Sears Club
- Card Assist
- Family First
- New Outlook
- Sears Passport To Travel
- Sears Welcome Home
- Insurance Services
- SearsConnect
Executive
- G. Bruce Clark - CEO
Membership
SBC is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks.External link
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