Customers Customer Satisfaction Helping
Customers in Tough Times
Goals 2013 Goal
Continue to provide financing options to support Canadian customers facing tough economic times.
Financial challenges can strike customers at any time. They can be a result of economic turbulence, catastrophic weather or an unanticipated life event that 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.
Canada: TD Helps is a program that encourages customers facing financial challenges to talk to us so we can help get them back on track before it’s too late. It means customers don’t have to resort to potentially more costly and time-consuming alternative means of financing, and we retain customers and avoid costly writeoffs.
• Since its introduction in 2009, the program has helped 231,369 customers in Canada. In 2013 we helped restructure $140.5 million in loans, down from $164 million in 2012. We see this reduction in loans as a positive sign that indicates better stability in the economy and less need for special intervention in managing household debt.
• 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 2013, 4,446 customers received emergency TD Helps funds.
TD 2013 Corporate Responsibility Report
Foreclosure Avoidance in the U.S.: In 2013, TD Bank expanded the loss mitigation treatments available to reach more homeowners, support homeowner retention and reduce foreclosures. TD Bank’s Loss Prevention team continued to focus on strengthening customer outreach efforts by expanding the options available and helping customers avoid losing their home.
Foreclosure Avoidance (in millions of U.S. dollars)
Value of troubled real estate assets restructured by TD Bank Rating 2013 Result
38,263 customers were granted TD Helps financing options (down from 43,467 in 2012).
TD Cares: In advance of the first missed pay period for furloughed U.S. federal government employees, TD Bank launched TD Cares, a program that allowed federal workers access to up to $1,000 credit at no cost, late fee refunds on TD Bank Visa cards and mortgage assistance. During the two-week furlough period we helped 500 customers who would otherwise have found themselves in financial difficulty.
Workplace
Environment
Communities
How We Operate
26
2013
2012
2011 31.9 811
TD Rallies to Help Customers After Super Storm Sandy
Read the full story of how TD teams on both sides of the border had 90% of TD locations up and running within a week – dispatching mobile banking units to the hardest-hit areas.
+ Full Story
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