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33 FS16 MATERIAL TOPIC


Financial Education


Context


Studies reveal that one in two people don’t have a budget, don’t know where their money is going and don’t understand even basic financial concepts:


• 42% of U.S. adults give themselves a grade of C, D or F on their knowledge of personal finance.1


• Less than 5% of household income in Canada is put into savings, compared to 20% 30 years ago.2


• 31% of Americans say that credit card debt keeps them from reaching their financial goals.3


• For every dollar earned, Canadians have an average of $1.63 in debt – a record high.2


Materiality and Strategy


As a major financial institution, TD aims to promote responsible attitudes toward money. We believe a business like ours can help educate consumers so that they are better equipped to make good financial decisions. Our strategy is to lead with education, through community outreach and consumer education. In 2014, a newly formed Financial Education Council, with cross-business representation, will work to champion financial education initiatives.


Headline Performance 14,000


financial questions answered through TD Helps Online.


125,410


people reached through a TD-sponsored financial education program.


620,000


number of visitors to TD Helps Online.4


Goals and Targets 2013 Goal


Increase financial awareness through TD Helps Online.


Help 200,000 people improve financial literacy skills through a TD-sponsored program by 2015.


Rating 2013 Result


Over 14,000 financial questions were answered in one year.


On track. In 2013 we reached 125,410 people. Target Increase in 2014.


Help 200,000 people improve financial literacy skills through a TD-sponsored program by 2015.


1 2


National Foundation for Credit Counseling, 2012 Financial Literacy Survey. Statistics Canada.


3 Nationwide survey by LearnVest and Chase Blueprint 2012. 4


Since July 2012. TD 2013 Corporate Responsibility Report

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