31 2012 Performance
Canada: The number of complaints handled by our Customer Problem Resolution Process in Canada (for TD Canada Trust) saw an increase of 1.3% over 2011. The most common complaints relating to our branches remain unchanged from previous years and include service levels and service delays, gaining access to funds and decline decisions on credit applications. During 2012, we made progress by reducing the time taken to resolve complaints by one day and we continue to make this a priority in 2013.
Complaint Resolution 2012
Complaints investigated by TD Ombudsman
Complaints in which TD Ombudsman ruled in full or partial agreement with the customer or client.
Complaints referred to the Ombudsman for Banking Services and Investments (OBSI)/ADR Chambers Banking Ombuds Office (ADRBO).
Complaints investigated in which the OBSI/ADRBO recommendation differed from the TD Ombudsman.
453 235 2011 428 210 2010 400 194 Helping customers in tough times
Financial challenges can strike customers at any time. They can be a result of economic turbulence, an illness or an unanticipated life event that dramatically reduces family income and makes it difficult to meet financial obligations. We believe that standing behind our customers in difficult times is one of the ways we can deliver legendary customer experiences.
In Canada, TD Helps has two components. One is a website designed to answer questions about financial products; the other is a program that encourages customers to talk to us so we can help get them back on track before it’s too late.
• In 2012 TD Helps provided financing options to 43,467 customers, down from 46,235 in 2011. Since its introduction in 2009, the program has helped 159,106 customers in Canada. In 2012 we helped restructure $164 million in loans, down from $180 million in 2011.
• Our front-line employees are empowered to provide modest emergency funds where they see an immediate need such as a tank of gas, a bag of diapers or covering a prescription fee. These funds are not a loan and do not need to be repaid. In 2012, 4,589 customers received emergency TD Helps funds.
167 23 191 27 254 59
The TD Ombudsman aims to conclude 90% of files within 90 days and, in 2012, achieved a resolution rate of 96%.
U.S.: In 2012, we saw a variety of customer concerns related to fees and pricing due to changes in the regulatory environment. The primary concerns were fees relating to deposit accounts, followed by service levels in our stores.
Complaint Resolution Target
Total number of complaints referred to the Chairman’s Service Centre.
Percentage of service complaints resolved within three days.
– 80% 2012 4,520 99% 2011 4,087 97%
TD holds an inventory of loans in the U.S. that cannot be restructured to avoid the imminent foreclosure. In 2012, the U.S. Loss Mitigation team restructured US$8 million of troubled assets, down from US$11 million in 2011. In 2013, TD Bank will expand the loss mitigation treatments available to our customers to reach more homeowners, support homeowner retention and reduce foreclosures.
To facilitate cooperation and communication between banks and their customers, many states encourage or require in-person mediations before granting summary judgment to foreclose. During a recent mediation, one of our customers talked through his reservations about negotiating with such a large bank. Before getting started, we talked casually about his family, his job, his home and difficult lessons learned along the way. As the mediator entered the room, he said, “I wish we could talk to the bank like this.” I said, “You did. And we hear you.” For the next several hours, we partnered to make the best of one of the most personal challenges this man has experienced – face to face, person to person. It was the perfect reminder that no matter how large we grow, it’s the loan that we service and the individual we connect with that matter.
Be Customer-Focused
Carissa O’Brien, Litigation & Account Remediation Manager, TD Bank, U.S.
TD 2012 Corporate Responsibility Report
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