Still grappling with the aftermath of a hefty payout and money-laundering scandal, TD Bank has announced a wave of branch closures across 10 states and Washington, D.C. This move has sparked concerns among customers and local communities, many of whom rely on in-person banking services.
In an effort to optimize operations, TD Bank will shutter 37 branches, affecting locations in Connecticut, Florida, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, South Carolina, Virginia, and Washington, D.C. Company representatives say that adapting to shifting customer habits—like increased digital banking—has led to tough decisions. So, is your local branch on the list?
First wave of branch closures targets diverse regions and longtime customers
According to filings with the Office of the Comptroller of the Currency (OCC), these closures will impact both urban and rural branches. Some local news outlets, including the Philadelphia Business Journal, have already reported on particular branches slated to shut down. TD Bank, still recovering from a $3 billion settlement after pleading guilty to money laundering, is looking to recalibrate while ensuring current customers have access to alternate services.
Here is a quick breakdown of some closures by state (see full list below). You might want to double-check if your branch is included:
- Connecticut: 2 closures
- Florida: 3 closures
- Maine: 5 closures
- Massachusetts: 6 closures
- New Hampshire: 4 closures
- New Jersey: 5 closures
- New York: 5 closures
- Pennsylvania: 3 closures
- South Carolina: 2 closures
- Virginia: 2 closures
- Washington, D.C.: 1 closure
Who will feel the biggest pinch from these TD Bank location shutdowns?
Customers in affected counties may need to travel farther for in-person banking or rely more heavily on digital tools. Concerned about how to manage your accounts without a nearby branch? You can explore TD Bank’s online services, mobile app features, and telephone banking as alternatives. Below is a small table summarizing the closures in three high-impact states:
| State | Number of Closures | Representative Cities |
|---|---|---|
| Massachusetts | 6 | Bradford, Methuen, Holyoke |
| New Jersey | 5 | Cedar Grove, Ringwood, Marlton |
| New York | 5 | Manhattan, Middletown, Greenlawn |
Many customers wonder if these closures signal further cutbacks. TD Bank’s spokesperson points to a changing financial landscape, but emphasizes a commitment to “legendary service” through about 1,100 remaining branches.
How to prepare for upcoming changes and maintain access to key banking services
If your branch is on the list, reviewing digital banking steps can be a wise move. For those who prefer personal interaction, look up alternate TD Bank locations or consider scheduling appointments at nearby offices.
While TD Bank reorganizes its physical footprint, customers should stay informed and explore new ways to maintain account accessibility. Online services, phone support, and relocating to other branches can help ease this transition.