In the United States, CT Financial operated as 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 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 across Canada; operated a network of 413 branches across Canada; and almost 1,000 automated banking machines.
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.