Community
Making a Difference Together
Overview
Building strong communities where our employees, customers and other stakeholders live and work is a priority for us.
In 2010, we gave more than $55 million to support our communities.
But it’s not just about giving money – our employees contribute countless hours to help make a difference.
Learn more about our community giving by reading the stories below.
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Keeping kids reading
Now in its ninth year, the TD Bank Summer Reading Program has encouraged thousands of children from Maine to Florida to read while teaching them the importance of saving money.
Now in its ninth year, the TD Bank Summer Reading Program has encouraged thousands of children from Maine to Florida to read while teaching them the importance of saving money. Every child who reads 10 books over the summer receives a $10 deposit into his or her Young Saver account. Nearly 32,000 children participated in the U.S. in 2010 – more than double the number of 2009 participants – with TD Bank awarding young readers a total of $318,000.
The annual Summer Reading Program kicked off with Employee Reading Month in May, when employees read to elementary school classes, donating the books they read to the schools’ libraries. The books are specifically chosen for their core message – the importance of saving money. This year, 1,100 U.S. employees visited elementary school classes, reading to 28,000 students.
TD Bank, through the TD Charitable Foundation, celebrated National Library Week and its Summer Reading Program by awarding $300,000 in donations to school libraries in primarily low- to moderate-income areas. Seventy-five schools each received a $4,000 grant for books or technology resources or to support existing library programs.
“The New York City Housing Authority is pleased to join with TD Bank to empower our children – not only to become better readers, but also to give them a head start as savers,” said John B. Rhea, Chairman of the New York City Housing Authority. “TD Bank’s Summer Reading Program encourages our youth to recognize the power of reading – to prepare you not only for school, but also for life.”
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Helping small business owners survive the economic downturn
In 2010, 10 TD employees helped small business owners in Vermont understand how to assess their businesses and develop strategic plans to carry them through to better economic times.
In 2010, 10 TD employees helped small business owners in Vermont understand how to assess their businesses and develop strategic plans to carry them through to better economic times.
Our employees delivered a series of four-hour workshops throughout Vermont that were part of a program called Listening to Your Business, created by the Vermont Small Business Development Center (VSBDC) to help small business owners cope with and survive the recent economic downturn.
More than 100 small business owners in Vermont participated in the program. “VSBDC is very appreciative of the contributions made by TD Bank and the TD Charitable Foundation to small business owners through the support of our programs,” said Lenae Quillen-Blume, State Director of VSBDC. “Foundation funding allowed business owners to attend these workshops at no cost and the general business community at a reduced price. The ‘learn-by-doing’ approach received an excellent response, and the workshops received an outstanding level of feedback.”
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Committed to helping people remain in their homes
In the U.S., the TD Charitable Foundation’s Housing for Everyone grant competition funds initiatives that help create, rehabilitate or maintain safe, affordable housing for thousands of people in local communities. In 2010, Housing for Everyone awarded nearly $2 million to 42 not-for-profit groups in 11 states.
In the U.S., the TD Charitable Foundation’s Housing for Everyone grant competition funds initiatives that help create, rehabilitate or maintain safe, affordable housing for thousands of people in local communities. In 2010, Housing for Everyone awarded nearly $2 million to 42 not-for-profit groups in 11 states.
Consistent with this year’s theme of “capital improvements for affordable housing,” many proposals incorporated energy efficiencies, green technologies and renewable resources into their plans.
The successful proposal put forward by Avesta Housing is one example. The largest not-for-profit developer of affordable quality housing in New England, Avesta will use its $100,000 Housing for Everyone grant to have a commercial solar thermal hot water system installed on the roofs of three elderly housing projects in southern Maine. The new hot water heating system will not only reduce carbon emissions but will also allow the low-income residents to keep more money in their pockets.
“Our relationship with TD Bank and the TD Charitable Foundation is incredible,” said Dana Totman, President, Avesta Housing. “For years they have provided outstanding lending, cash management services and support enabling us to provide homes to thousands of Maine’s most vulnerable citizens.”
Since it was established in 2006, Housing for Everyone has awarded more than $8 million to help provide safe, affordable housing in the U.S.
To learn more about the 2010 competition, please see the competition summary.
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Making Canada greener – one tree at a time
When Hurricane Igor battered parts of Newfoundland in September, hundreds of trees were ripped from the ground or otherwise damaged. Fortunately, TD Tree Days was scheduled the following weekend, and that meant 770 new native trees would be planted by TD volunteers in the St. John’s area.
When Hurricane Igor battered parts of Newfoundland in September, hundreds of trees were ripped from the ground or otherwise damaged. Fortunately, TD Tree Days was scheduled the following weekend, and that meant 770 new native trees would be planted by TD volunteers in the St. John’s area.
Sponsored by the TD Friends of the Environment Foundation (TD FEF), TD Tree Days is a new national volunteer initiative aimed at adding more greenery to local communities. “It’s an exciting annual opportunity for TD employees and their family and friends to help make our environment more sustainable for future generations,” says Mary Desjardins, Executive Director of TD FEF, which celebrated its 20th anniversary in 2010. “This year, our volunteers added nearly 20,000 new trees to the Canadian landscape.”
Since it was established in 1990, TD FEF has given over $53 million to more than 19,000 projects across Canada. Visit the TD FEF website to lean more. To find out more about TD’s environmental initiatives, visit the environment section of the annual report.
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New homes for old furniture
In June, TD Securities relocated its U.K. headquarters from London’s Finsbury Square to a new building on the city’s Threadneedle Street. With the move came the opportunity to help a number of local not-for-profit organizations – and be environmentally responsible.
In June, TD Securities relocated its U.K. headquarters from London’s Finsbury Square to a new building on the city’s Threadneedle Street. With the move came the opportunity to help a number of local not-for-profit organizations – and be environmentally responsible.
The furniture from the Finsbury Square office couldn’t be used in the new building and yet it still had lots of life. So rather than consign it to a landfill site, employees decided to draw on a new relationship with City Action – a London-based organization that matches companies and community organizations – to identify local not-for-profit groups in need of furniture.
In no time at all, TD Securities’ London office was inundated with e-mails from community organizations offering to provide a new home for the furniture.
As one recipient wrote, “It’s a credit to your organization that you took the time and effort to arrange the dispersal of these items in a responsible way, and we are very grateful that we were able to pick up some much-needed chairs.”
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Students win scholarships for community leadership
Born in Nigeria, Toluwani “Tolu” Falaye moved to Calgary as a child, but never forgot her roots. In high school, Tolu set up the Youth Initiative Leadership Program, a community organization whose goal is to help underprivileged women and children acquire the skills they need to be successful.
Born in Nigeria, Toluwani “Tolu” Falaye moved to Calgary as a child, but never forgot her roots. In high school, Tolu set up the Youth Initiative Leadership Program, a community organization whose goal is to help underprivileged women and children acquire the skills they need to be successful. Working mostly with newcomer women and their families, Tolu held conferences and workshops, even finding the time to raise money for women’s initiatives in Darfur.
Today, the organization continues without her. Tolu is a first-year student at the University of Western Ontario in London, where she studies biomedical science, with an eye to pursuing medicine. “Eventually I want to work with women in developing countries, especially Nigeria, helping them receive treatment and health care they otherwise might never have access to,” she says.
There was a time last year when Tolu felt that financial constraints meant she couldn’t attend university in the fall. But those concerns disappeared when she became a recipient of the 2010 TD Scholarship for Community Leadership, an honour that is received by only 20 outstanding high-school students from across the country. “Winning the scholarship has meant so much to me,” says Tolu. ”It’s lifted the weight of financial burden from my shoulders. But more than that, it’s given me the chance to gain the skills and education I need to make my dreams a reality. My life has completely changed in every possible way, and I am extremely grateful for that.”
Winners of the TD Scholarship for Community Leadership receive up to $70,000 to cover post-secondary tuition and living expenses, as well as summer employment with TD for four years. Since 1995, TD has provided $15 million to help 300 exceptional students achieve their educational goals.
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Financial literacy the focus of major funding
Uninformed financial decisions can have devastating effects for individuals and their families, but also for local communities and, indeed, entire economies. Many Canadians who have the will and desire for a better life don’t have the financial knowledge to create it. At TD, we believe that we have a special responsibility to help people with their personal finances. It’s one way we can create real value in society.
Uninformed financial decisions can have devastating effects for individuals and their families, but also for local communities and, indeed, entire economies. Many Canadians who have the will and desire for a better life don’t have the financial knowledge to create it. At TD, we believe that we have a special responsibility to help people with their personal finances. It’s one way we can create real value in society.
That’s why we announced $14.5 million in funding to SEDI (Social and Enterprise Development Innovations), an organization that helps economically disadvantaged Canadians gain financial independence.
Of that amount, $3.5 million has been designated to support the Canadian Centre for Financial Literacy – a SEDI initiative – over a five-year period to train staff and build the capacity of not-for-profit organizations to deliver financial literacy programs and integrate financial literacy training into the other services they deliver in the communities they serve. As a result of TD’s funding, the centre will be able to reach out to more than 230,000 people from low-income groups over the next five years.
The remaining $11 million was used to create the TD Financial Literacy Grant Fund. Administered by SEDI, the fund will provide grants ranging from $25,000 to $100,000 to qualified not-for-profit and charitable organizations for strategic projects and innovative approaches to accelerate the pace at which they can bring financial literacy skills to low income and disadvantaged Canadians.
In addition to these SEDI initiatives, TD supports several other financial literacy projects in Canada, the U.S. and the U.K. Financial literacy was also the subject of a TD Economics paper this year.
TD has provided $14.1 million to this initiative as part of a class action settlement (Cassano vs. TD) agreed to in 2009, a donation that was approved by the court as reasonable, fair and in the best interest of Canadians. -
Back to Work program for women
A new TD-sponsored program at the University of Toronto’s Rotman School of Management is helping women rejoin the workforce after extended absences. Open to 30 participants, the program received more than 100 applicants and has garnered significant media interest.
A new TD-sponsored program at the University of Toronto’s Rotman School of Management is helping women rejoin the workforce after extended absences. Open to 30 participants, the program received more than 100 applicants and has garnered significant media interest.
“These women tend to have tremendous life experiences and leadership skills and have the potential to make a major contribution in the workforce, but they need to rebuild their professional networks and confidence,” says Professor Beatrix Dart, Associate Dean at Rotman and Executive Director of the program, which runs for nine days over three months and is geared specifically to women looking for middle management positions. “The Back to Work program gives them an unparalleled opportunity to reignite their goals and to get up to speed on the latest trends and issues in business, while meeting like-minded women, potential employers and future professional contacts."
As lead sponsor of the program, TD is underwriting the cost for all participants and will offer scholarships to four of the selected participants. Committed to diversity, including expanding opportunities for women, TD joined forces with Rotman to help eliminate barriers for women returning to their careers after an absence.
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Building literacy skills in children
This year, the TD Canadian Children’s Literature Awards celebrated two outstanding books for children: Le géranium, written by Mélanie Tellier and illustrated by Melinda Josie, which won the 2010 award in the French-language category; and The Hunchback Assignments by Arthur Slade, which won the English-language award.
This year, the TD Canadian Children’s Literature Awards celebrated two outstanding books for children: Le géranium, written by Mélanie Tellier and illustrated by Melinda Josie, which won the 2010 award in the French-language category; and The Hunchback Assignments by Arthur Slade, which won the English-language award.
“These books are outstanding examples of the kind of literature that builds a love affair between reading and children,” says Frank McKenna, TD’s Deputy Chair and literacy champion. “Reading skills and success in life are linked, which is why we believe it’s important to support great children’s literature and help get kids reading.”
Among Canada’s top honours for children’s books, the TD Canadian Children’s Literature Awards, in partnership with the Canadian Children’s Book Centre, were established in 2005 to recognize the most distinguished Canadian children’s books of the year. As well as the $25,000 prizes for the top English- and French-language books, a $10,000 prize is shared by the four other finalists in each language category and the publishers of award-winning books receive $2,500 to help promote them.
In 2010, TD gave 575,000 books to grade 1 students as part of TD Grade 1 Book Giveaway and once again supported the TD Summer Reading Club, which saw more than 2,000 public library systems and over 540,000 young people participate across Canada.
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TD leaders help newcomers build careers in Canada
This summer, when TD’s senior executives gathered for an annual two-day leadership meeting, they decided to spend one afternoon volunteering in the community instead of discussing business. Thirty of them took part in a Speed Mentoring® session at ACCES Employment, which helps people from diverse backgrounds find employment and integrate into the Canadian job market. Speaking one on one with recent newcomers hoping to build careers in Canada...
This summer, when TD’s senior executives gathered for an annual two-day leadership meeting, they decided to spend one afternoon volunteering in the community instead of discussing business. Thirty of them took part in a Speed Mentoring® session at ACCES Employment, which helps people from diverse backgrounds find employment and integrate into the Canadian job market. Speaking one on one with recent newcomers hoping to build careers in Canada, the executives shared life experiences and advice on a variety of topics ranging from building an effective resume and preparing for interviews to tips for applying for jobs and transitioning into a new professional setting.
“The session was very helpful for our mentees,” says ACCES Employment’s Executive Director Allison Pond. “They received some great coaching on how to be successful in the Canadian workplace and built their networks. Several of our mentees were later hired by TD.”
TD benefited from the session too. Says Brian Murdock, CEO of TD Asset Management, “The experience opened my mind to the huge amount of talent that new Canadians are bringing to this country and how much we can gain from their diverse perspectives.”
In 2010, almost 200 TD leaders participated in 18 ACCES Speed Mentoring® and recruitment events, with 28 ACCES candidates being hired by TD.
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Celebrating 150 years in Quebec
In February and March, a special art exhibit opened at the Musée national des beaux-arts du Québec (MNBAQ). Called From Pellan to Ferron. A Selection of Works by Quebec Artists from the TD Collection, the exhibit featured 12 works from TD’s extensive collection that together provide an overview of Quebec paintings from 1950 to 1980.
In February and March, a special art exhibit opened at the Musée national des beaux-arts du Québec (MNBAQ). Called From Pellan to Ferron. A Selection of Works by Quebec Artists from the TD Collection, the exhibit featured 12 works from TD’s extensive collection that together provide an overview of Quebec paintings from 1950 to 1980.
The exhibit was one of a number of ways in which TD marked its 150th anniversary in Quebec this year and was presented as part of a three-year partnership with MNBAQ that will support the museum’s cultural program and strengthen TD’s commitment to the arts community.
TD’s strong tradition of investing in community programs and causes is part of our Quebec story and includes support for such cultural institutions as the Festival international de Jazz de Montréal, Les Journées de la culture, the Orchestre Symphonique de Montréal and the Opéra de Montréal, among others.
- PDF downloads
- Management's Discussion and Analysis (1260 KB)
- Consolidated Financial Statements (1300 KB)
- Ten-year Statistical Review (134 KB)
- Principal Subsidiaries (53 KB)
- Glossary (36 KB)
Corporate responsibility
We want to be The Better Bank. Discover how we're building on our commitments to customers, employees, the communities we serve and the environment.
TD's 2010 Corporate Responsibility Report will be available in March 2011.
