Financial literacy is an emerging issue. When people lack basic skills to make sound financial decisions, the impacts are far-reaching.
Being in the money business, TD understands the importance of good money management and grasping the language of dollars and cents.
To help draw widespread attention to the issue, financial literacy was the subject of a TD Economics paper in 2010, Dollars and Sense: The Urgent Need for Lifelong Financial Literacy.
In the report, TD calls for a national strategy that equips Canadians with the necessary information and tools to make sound financial decisions.
TD invested $500,000 in United Way Toronto’s new Financial Literacy Program.
Several TD employees play an active role in the program, volunteering to deliver financial literacy workshops in community agencies across the city, on topics such as “Budgeting 101” and “Banking in Canada”.
In 2010, we committed $11 million to set up the TD Financial Literacy Grant Fund.
Administered by SEDI (Social and Enterprise Development Innovations), the fund provides grants ranging from $25,000 to $100,000 to not-for-profits who can help economically disadvantaged groups improve their money management skills.
In addition, we provided $3.5 million to the Canadian Centre for Financial Literacy to help train their people and build skills among community agencies that work to improve financial literacy.
The TD Bank WOW!Zone is a free, one-of-a-kind online and in-school program for students grades kindergarten to Grade 12 that teaches the importance of saving, budgeting and banking basics and how to build good financial habits early in life.
Trained TD Bank WOW!Zone instructors volunteer an average of 400 hours to teach 8,000 students each month. Over the last 21 years, we have reached nearly 800,000 students.
In the U.K., Number Partners is an innovative program we support that promotes the enjoyment of math among children in primary schools.
TD employees play specially-designed board games that generate discussion about numbers and boost the children’s confidence and skills in math.