Pennsylvania Business Report, February 21, 2023, TD Bank announces plan to build on community engagement
TD Bank, which has locations in 63 Pennsylvania cities and towns, announced Wednesday it would launch a five-year Community Benefits Plan that would provide an estimated $50 billion impact to its communities across the United States.
The Community Benefits Plan, developed in coordination with the National Community Reinvestment Coalition (NCRC), would provide lending, philanthropy, banking access, and other activities for communities following its acquisition of First Horizon Corporation.
The bank said the plan would result in 25 new physical bank branches in marginalized communities, which will provide an estimated $21 billion in home lending to low- to moderate-income and diverse borrowers, $7.75 billion in small business lending, and $17.5 billion in community development loans and investments, for areas of greatest need in communities across 22 states and Washington, D.C. Those areas were identified through months of consultation with NCRC leadership and non-profit groups, the company said.
