With our origins predating Confederation, TD and Canada have both evolved together, achieving impressive growth and change, with each bringing considerable strength and support to the other.
TD employees shared the entrepreneurial spirit of Canadians. Former TD Bank Chairman Allen T. Lambert, reflecting on his early career at the bank's log cabin branch in Yellowknife, Northwest Territories, said "We didn't have any set banking hours but had to be available to the customers when they needed us. In the summer when the days were long and the prospectors were active, we usually worked from 5:30 a.m. until midnight."
We are proud that we have served generations of Canadians and we've been a solid and trusted partner in thousands of communities.
For example:
When first founded, The Bank of Toronto and The Dominion Bank served vital functions: before Confederation, with no government-issued currency, small banks extended credit to farmers during the growing season and printed their own currency. The practice of issuing these bank notes was gradually phased out after the Bank of Canada was established in 1935.
The Dominion Bank was among the financiers of railway construction in the late 19th century, opening up development through central Canada and across the western frontier.
Opening branches across the young provinces, we extended credit to both entrepreneurs and newly established civic governments, which required capital to fund public works, roads and municipal services.
Following World War II, the banks supported veterans, as remarked by western Supervisor William Marshall in 1946, "At Winnipeg, ways and means have been found of helping every veteran who has made application for assistance for some sound project, most often loans to finance the purchase of homes."
TD helped fund major national development projects, such as the $500 million banking consortium financing of the massive Hydro Quebec James Bay Hydroelectric project in 1978.
As Canada's oil and gas industries emerged in the mid 20th century, TD offered specialized support. Bank ads promoted our branches in the major oil fields, with employees who "realize that an oil man may require financial assistance at any time... for expansion, buying new equipment, or taking swift advantage of an opportunity."
"With TD's long history, we are privileged to have been part of Canada's creation and growth," observes TD Bank Financial Group President and Chief Executive Officer Ed Clark. "This honour gives us a unique perspective that will help us be an integral part of this country as we build on our success in Canada and beyond."
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