TD’s Response to the COVID-19 Pandemic
Customers | Colleagues | Communities
The pandemic is impacting every aspect of our lives — from our families, to our jobs, to the way we interact and engage with our communities.
Customers
Helped our customers feel confident during a time of uncertainty by providing advice, facilitating access to government relief efforts and enhancing tools and capabilities to bank with us when and how they want to.
Through TD Helps in Canada and TD Cares in the U.S., we have provided support to over 450,000 customers and accounts.
Deferred payments on approximately $84 billion in loan balances as of October 31, 2020.
The total value of all insurance customer relief programs exceeded $88 million in premiums.
Facilitated access to billions of dollars in government funds to businesses through programs like the Canada Emergency Business Account Program and the Paycheck Protection Program in the U.S.
Helped the Canadian federal government deliver income support to households through the Canada Emergency Response Benefit program, with $11.5 billion in direct deposits facilitated in 2020.
Increased average total gross lending exposure by $12.9 billion in Wholesale Banking.
Colleagues
At TD, our people are our greatest asset and throughout the pandemic, we continued to make investments that prioritize their well-being.
Adapted our work environments, including investing in protective equipment, enhanced cleaning and a new app – TD BoardingPass – to simplify health screening and to help support safe workplaces.
Quickly enabled 60,000 of our colleagues to work from home, including contact centre employees and trading teams in Canada and the U.S.
Recognizing this is a challenging time, TD committed to no COVID-19-related job losses in 2020 and provided financial awards and additional time off, as a result of the pandemic.
Created an internal resource hub with topics ranging from mental, physical and financial health to family and social support.
Provided virtual health care to colleagues in Canada, U.S., U.K., and Singapore with 24/7 on-demand access to medical consultations from the comfort of their homes.
Communities
COVID-19 has affected us all, but we know some communities are being disproportionately impacted. Through our global citizenship platform, the TD Ready Commitment, we aim to provide important financial commitments and programs designed to support recovery and community resilience across our footprint.
TD launched the TD Community Resilience Initiative, allocating $25 million to organizations engaged in COVID-19 response and community recovery.
As part of this program $10 million was allocated to the TD Ready Challenge, an annual North American initiative, focused on developing innovative solutions for a changing world. The 2020 TD Ready Challenge quickly adapted to address the impacts of the pandemic and support recovery.
The remaining funds are focused towards community giving ($13 million) and matching grants programs ($2 million).