Education and Financial Literacy
Programs in Canada:
- In 2010, TD gave over $4.3 million to post-secondary education across Canada. These funds supported a range of bursaries and scholarships. One example is a $330,000 donation to Mount Saint Vincent University in Nova Scotia to help students gain teaching experience in Nunavut, creating a better understanding of the challenges faced by northern youth.
- Twenty of Canada’s best and brightest received the TD Scholarship for Community Leadership, a prestigious award for exceptional students who have made a positive impact on the world around them. Each student is awarded a scholarship worth up to $70,000 to cover post-secondary tuition and living expenses, as well as summer employment with TD for the next four years. Since 1995, TD has supported over 300 students through this program.
- TD continues to support inclusive and accessible university campuses. A $50,000 donation will help build a new Aboriginal centre for Vancouver Island University. The centre will foster understanding of First Nations heritage on campus.
- In 2010, 726 TD employee volunteers were involved in delivering 725 school- and community-based financial literacy sessions to 18,129 students and newcomers through partnerships with Junior Achievement Canada, United Way of Toronto, and the Canadian Banker's Association.
Access to Post-Secondary Education:
In 2010, TD donated $750,000 to promote access to university and college diversity programs. Examples include:
- Road to Ryerson gives high school students who just missed getting into Ryerson University in Toronto a second chance to upgrade their marks and attend university.
- Helping Youth Pursue Education (HYPE) is run by Centennial College in Toronto. One hundred and twenty students completed six weeks of free development workshops to upgrade skills and complete their high school certificates.
TD Financial Literacy Grant Fund
Established in 2010, the fund is the first of its kind in Canada. The aim is to increase money management skills among economically disadvantaged groups and instill self-confidence in people’s ability to manage their own finances.
How It Works
The fund is managed by Social and Enterprise Development Innovations (SEDI). TD committed $11 million to set up the fund, enabling SEDI to issue grants to other not-for-profit organizations that build financial literacy skills. In addition, TD provided $3.5 million to fund the Canadian Centre for Financial Literacy (CCFL) to help build capacity and skills in the not-for-profit sector. The CCFL runs free financial literacy workshops for community workers. The approach is to provide financial training to individuals who already have relationships and rapport with economically disadvantaged groups – as opposed to using financial experts who often struggle to relate to the target audience.
“Thanks to TD’s contribution, thousands of Canadians will have opportunities to better understand their finances and make informed decisions about spending, saving and investing.”
Peter Nares, executive director, SEDI
TD provided the $14.5 million in funding to SEDI as part of a class action settlement (Cassano vs. TD) as agreed in 2009.