HOW WE OPERATE RESPONSIBLE BANKING WORKPLACE ENVIRONMENT COMMUNITY GOVERNANCE
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Financial Education in the Community WHY IT’S MATERIAL TO TD
As discussed in the Responsible Banking section of this report, financial literacy is a critical skill for navigating today’s financial world and is therefore a priority for TD. The issue is directly related to our business as a financial institution, and therefore we have both an opportunity and a responsibility to support financial education in our communities.
Management Approach
We support financial education programs, events, services and research, and focus our investments on underserved or disadvantaged communities – including low-income, youth, Aboriginal Peoples and newcomers to Canada. An important way we do that is through community outreach and our approach in both Canada and the U.S. is to collaborate with non-profits that work in the field. TD’s Financial Education Council helps to coordinate the bank’s overall approach.
2015 Performance 2015 Target
Help 200,000 participants improve financial literacy through a TD- sponsored program.
Rating 2015 Results
Met Over 247,900 people reached across North America and U.K.
2016 Targets
250,000 participants
In 2015, TD invested $3.86 million to support community financial literacy programs across North America and the U.K., up from $3.1 million the previous year, which benefited more than 247,900 people. In addition, thousands of TD volunteers across our footprint in North America and the U.K. taught money skills in classrooms and community centres. Here are a few highlights from the past year:
• TD increased its participation in Financial Literacy Month in Canada by launching a suite of educational tools and resources for parents, teachers and youth.
• TD employees volunteered over 3,400 hours teaching money management skills to more than 4,800 adult learners through Money Matters, a free financial literacy program for adult learners developed by ABC Life Literacy Canada and TD. During the past year, we began expanding this successful program to pilot specific lessons for newcomers, Aboriginals and post-secondary students.
• Female employees from TD delivered financial lessons to more than 2,800 young women through the Girls Count program run by Girl Guides of Canada.
• Through our own free TD Bank WOW!Zone, now in its 25th year, 2,000 trained TD Bank instructor volunteers work with local schools and youth organizations to teach students in Grades K-12 about budgeting, saving and building good financial habits. In 2015, our employees delivered 3,200 classes to over 50,000 students. Over the last 25 years, we have reached more than 1.1 million students through the program, which meets the U.S. National Content Standards in Personal Finance and Economics.
• Through our relationship with the National Foundation for Credit Counseling (NFCC), we sponsored 110 adult financial education seminars for 2,700 people in low- to moderate-income urban locations in Boston, New York City, Philadelphia, Metro Washington, D.C., North Carolina, South Carolina and Florida. NFCC member agencies, with assistant instructors from TD Bank, taught the free seminars, which focused on budgeting, understanding credit reports and scores, and preparing for home ownership.
• In the U.K., TD participated in its second World of Work visit program, welcoming students from several local schools to learn about real-life business and working in the financial sector. A key goal is increasing aspirations in poorer schools where some children come from five generations of non-working families.
Go Deeper TD’s Financial Education Website TD WOW!Zone
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