Developed in Coordination with the Nationwide Group Reinvestment Coalition, the Strategy Delivers an Approximated $50 Billion of Affect

- 25 new merchants in LMI and/or majority-minority communities
- $21 billion in household lending to Very low- and Average-Money and varied debtors
- $7.75 billion in compact organization lending
- $17.5 billion in group enhancement loans and investments

CHERRY HILL, N.J., Feb. 15, 2023 – TD Lender, America’s Most Handy Bank®, today declared a 5-calendar year Local community Rewards Program (CBP), formulated in coordination with the Countrywide Group Reinvestment Coalition (NCRC). The CBP will present an believed $50 billion of effect to nearby communities throughout TD Bank’s expanded U.S. presence next the acceptance and near of its prepared acquisition of Initially Horizon Corporation. This program will deliver lending, philanthropy, banking obtain and other pursuits for the profit of various and underserved communities.

“Banking companies have an essential role in supplying economic opportunity and supporting adjustments that support Low- and Moderate-Income (LMI), numerous and underserved communities obtain their economic objectives,” said Leo Salom, President and CEO of TD Bank, America’s Most Convenient Financial institution®. “This is rooted in the belief that our business only does nicely when the people we serve are flourishing. Our Local community Rewards System builds on TD Bank’s and Initial Horizon’s longstanding target on our communities. We are excited to keep on this concentrate in Initial Horizon markets as we go forward with combining our two businesses. Thank you to the NCRC and its member companies for their collaboration and important perception as we designed an efficient Plan that addresses the priorities and requires of the communities we serve.”

To identify parts of biggest have to have in communities throughout 22 states and Washington, D.C., the financial institution solicited suggestions from NCRC leadership and non-gain groups from both TD and Initial Horizon marketplaces via months of consultation. TD will meet up with annually with the NCRC to go over and measure development on the factors of the Program.

“TD Bank’s brought dedication and open up minds to the meetings with NCRC customers that introduced us to this sturdy and promising arrangement,” National Local community Reinvestment Coalition President and CEO Jesse Van Tol stated. “The offer we just signed will be certain that communities of have to have see tangible increases in methods and economic opportunity in their neighborhoods – as every financial institution merger is legally needed and morally bound to do. This settlement demonstrates the tough get the job done of our users and the bank’s personnel in a lot of methods, like TD’s determination to opening 25 new actual physical bank branches in marginalized communities – the major this sort of pledge to date by any of the 20-furthermore banking institutions that have signed onto a group benefits settlement with NCRC members. I applaud every person associated for bringing the candid, constructive electricity these deals demand to our conferences and making these a strong final bundle.”

Advancing TD and 1st Horizon’s Strong Monitor Information of Community Engagement

The CBP extends TD and Initially Horizon’s shared commitment to positively effect social and economic outcomes in community marketplaces and address financial inclusion throughout varied communities, including Black, Indigenous, minority, women, veteran and LGBTQ2+ people today and their enterprises, though also enhancing access to risk-free and inexpensive products and solutions. The prepare features the pursuing:

Banking Accessibility

Dependable with TD’s aim to make banking obtainable to its clients, it will open at least 25 new merchants and 25 ATMs in LMI and/or the greater part-minority marketplaces about the future five a long time. The lender also commits that all banking locations will be open at the very least five days a 7 days. In addition, there will not be any merger-related First Horizon retail outlet closures.

Home finance loan Lending and Consumer Items

TD Lender will help cost-effective home possession by growing residential house loan loans, such as very first-time homebuyer and residence enhancement loans to $21 billion for LMI and minority borrowers, and in LMI and vast majority-minority census tracts, which represents a 65% raise. In assistance of this purpose, TD will seek the services of added assorted Mortgage loan Financial loan Officers and Local community Home finance loan Mortgage Officers who replicate the communities we provide.

The financial institution will also provide affordable retail products and solutions that are designed to meet up with the requirements of economically vulnerable customers across the footprint.

Little Business Help

The Approach builds on the bank’s ongoing commitment to guidance the crucial job smaller organizations engage in in area economies by offering an approximated $7.75 billion in lending to modest enterprises with less than $1 million in once-a-year income, with a aim on minority- and women of all ages-owned enterprises and those in LMI and/or rural locations.

Local community Development Loans and Financial investment

TD Lender will offer $17.5 billion in community advancement financial loans and other investments to guidance financial growth pursuits and economical housing jobs (together with rental housing) within TD and 1st Horizon marketplaces. This represents a 21% enhance over the merged TD and Initial Horizon past 5-year typical.

Supplemental Highlights

- $200 million in Neighborhood Reinvestment Act-connected philanthropy as a result of the TD Business office of Charitable and Community Providing, which involves producing a $40 million TD New Horizon Basis, with a focus on giving in Memphis, TN, and other 1st Horizon marketplaces above 5 yrs.
- Generation of a Community Advancement Money Establishments (CDFIs) / Minority Depository Institutions (MDIs) Influence Strategy, to give lending and fairness investments, with a complete approximated affect of $1 billion.
- Elevated expending with licensed numerous suppliers in the US by 50%.
- Engagement and aid of Historically Black Faculties and Universities (HBCUs) through institutional assistance, recruitment of learners and alumni, and financial obtain.

Further Facts Regarding the CBP

TD and the NCRC are pleased that 59 neighborhood organizations have endorsed this impactful CBP. For additional information and methods, please go to: https://stories.td.com/us/en/report/td-financial institution-local community-added benefits-program.

About TD Financial institution, America’s Most Convenient Bank®

TD Financial institution, America’s Most Effortless Financial institution
®, is 1 of the 10 biggest financial institutions in the U.S., offering around 9.8 million buyers with a full selection of retail, smaller business and business banking goods and providers at far more than 1,100 effortless spots in the course of the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Automobile Finance, a division of TD Financial institution, N.A., offers car or truck funding and seller industrial solutions. TD Bank and its subsidiaries also give tailored private banking and prosperity management services through TD Wealth®. TD Financial institution is headquartered in Cherry Hill, N.J. To study far more, take a look at www.td.com/us. Uncover TD Lender on Fb at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.

TD Financial institution, America’s Most Hassle-free Lender, is a member of TD Bank Team and a subsidiary of The Toronto-Dominion Lender of Toronto, Canada, a best 10 financial expert services enterprise in North The us. The Toronto-Dominion Lender trades on the New York and Toronto inventory exchanges underneath the ticker symbol “TD”. To learn extra, take a look at www.td.com/us.

Media Contact:

Martha A. Gaston, APR

VP, Senior Company Communications Manager

TD Lender

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