President's Choice Financial
President's Choice Financial (PCF) is a banking service provided by Loblaw Companies Limited. Several different organizations provide individual financial services under the President's Choice Financial umbrella:
- Personal banking products are provided by the direct banking division of CIBC.
- MasterCard services are provided by President's Choice Bank, a wholly owned subsidiary of Loblaw Companies.
- Insurance is provided by two Loblaw subsidiaries (PC Financial Insurance Brokers Inc. and PC Financial Insurance Agency Inc).
Products offered vary by Canadian province.
Deposit insurance on banking products
For the purposes of Canada Deposit Insurance Corporation (CDIC) coverage, PCF bank accounts are combined with any CIBC accounts for the purposes of CDIC coverage limits. This is because of the operating structure of PCF, with banking services being provided by CBIC.