Customer Questions and Answers
- Why are you changing the brand name of the bank from TD Commerce Bank?
- Our decision to change the name is due to a legal challenge from another financial institution where a federal court has provisionally prevented us from using the TD Commerce Bank name in Massachusetts. Instead of facing a possible delay in our plans to unite under one brand name, we are making a proactive and strategic decision to move forward with the re-branding of the company as TD Bank.
- How did you come to this decision?
- Following the legal challenge, we thought carefully about our options. We decided it makes far more sense for us to change the brand name now and focus our energy on enhancing the Customer and Employee experience, rather than delay our plans to re-brand the company and spend valuable time and resources in court.
- Didn’t you do research before you selected TD Commerce Bank as the name?
- Yes, our brand team performed market research on the TD Commerce name. The well-recognized green TD shield is the base of our brand identity, consistent with, and easily recognizable as, part of TD Bank Financial Group. In our view, the TD name and shield combined with Commerce Bank was a significant differentiator but, unfortunately, the Court felt differently.
- Did you consider operating as a different name in just Massachusetts and TD Commerce Bank everywhere else?
- Yes, we did, but our desire is to have one unified brand in the United States. We feel operating under different names would only lead to confusion for Customers and Employees.
- Why aren’t you going to fight in court for the right to use “Commerce” in the name? Isn’t that important to Commerce Customers and Employees?
- We’re disappointed with the Court’s ruling and we have been defending our claim. However, we recognize this process will result in delays and confusion for our Customers and Employees. TD Commerce Bank was our first choice for a name for the combined company. TD Bank reflects a new brand name for us, but we will retain the Commerce tagline and promise of being “America’s Most Convenient Bank.”
Also, many Customers have told us that the most important part of our brand is not the name or logo, but the convenience, legendary service and the people who deliver it day in and day out. Therefore, it makes far more sense for us to focus on enhancing the Customer and Employee experience, rather than spend valuable time and resources in court. - When will the Stores’ signs change?
- By making the proactive decision to make the change now, we will be able to follow the same schedule we had set originally for our re-branding effort. Starting later this year, we will begin re-branding our locations in the Mid-Atlantic region. Remaining TD Banknorth branches are expected to be fully re-branded sometime in late 2009.
- Is there concern about future possible legal challenges from other banks with regard to the new name?
- Before selecting TD Bank as the new brand name for our combined company, we performed thorough research, including an examination of names of financial services institutions currently operating within our markets. We did not find any cause for potential conflict or trademark concerns.
- What happens if you make another acquisition? Will the name change again?
- Although we can never say “never,” we believe TD Bank gives us a unique brand identity that resonates with Customers and a clear differentiator as we expand into new markets. The green TD shield is the base of our brand identity, so even if we do undertake future acquisitions, they would become part of the TD family and would display the TD shield as part of their name and logo.
- Is there concern that people will be confused about this second name change?
- We are committed to communicating the brand name change proactively and openly with all our stakeholders. We regret any confusion this change may cause, and we will work tirelessly to ensure a smooth and hassle-free transition to TD Bank for our Customers and Employees. We believe that the TD shield, which we will retain, and our reputation for unparalleled convenience and legendary service, will make it easy for Customers to recognize us as their bank of choice.
- Will accounts and services change?
- For all our Customers: Personal Banking, Small Business, Insurance, Investment and Commercial, it’s business as usual for now. There is no action required and all existing accounts, terms and agreements remain the same. Customers can continue to bank the way they do today, at the same location, with the same smiling faces, over the phone, at the ATM, or online. We will keep you informed of any changes that may impact you.
- Do I need to change my check/ATM card, passbooks, checks, etc.
- No, you can continue to use your same check/ATM card, passbooks, and checks to access your accounts in the same way you always have. If there is any change, we will notify you well in advance.
For more information, call Commerce Bank at 1–888–751–9000 or visit us at commerceonline.com.
Commerce Bank and TD Banknorth are trade names of TD Bank, N.A.
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