TD Canada Trust closing Weston branch.

TD Canada Trust bids farewell to Weston and hundreds of potential new customers.

TD Canada Trust has officially announced the upcoming closure of its Weston branch at 1979 Weston Road. Adam broke the story last year. The bean counters at TD Canada Trust have decided that closing the Weston branch will save them more money than the potential loss of clients. According to the bank handout regarding the closure,

Prior to making a decision to close a particular branch and move customer accounts to another branch, TD Canada Trust always undertakes a thorough review of the customer impact of the move. If our review indicates that the move may result in some particular concerns for all or a certain group of the affected customers, TD Canada Trust will hold an information session to discuss our plans and how we propose to deal with those concerns.

From September 21, Weston customers who stay with TD will be expected to schlep along to 2547 Weston Road at the 401. It’s another example of the banking industry reaping huge profits while abandoning their customers. This also makes room for payday loan companies to fill the void; unconscionable in a community with a fair number of vulnerable residents.

There is a ray of hope via a federal government agency called ‘The Financial Consumer Agency of Canada‘ (FCAC).  According to the blurb that came with news of the closure,

“You should know, however, that under the regulations, the Commissioners of the FCAC may require TD Canada Trust representatives to hold and attend a meeting with FCAC representatives and interested parties, in order to exchange views about the closure of a branch IF:

  1. An individual from the area affected by the closure of the branch submits a written request to the FCAC for the meeting; and

2. TD Canada Trust has not adequately consulted the community about the branch closure; and

3. The request is not frivolous or vexatious.”

I’d like to know who the bank consulted with before deciding it was ok to close the branch. My wife has an account at the branch and this is the first she’d heard about the closing.

If you feel you haven’t been consulted enough about the move, submit your non-frivolous written request to:

Financial Consumer Agency of Canada
427 Laurier Avenue West, 6th Floor
Ottawa ON K1R 1B9

Phone contact for TD Canada Trust: 1-866-222-3456

Phone contact for FCAC: 1-866-461-3222

Perhaps this is where York South-Weston’s non-resident MP, Honourable Ahmed Hussen could get involved. Scotiabank’s closing was seemingly ignored by Mr. Hussen – a self-described social activist. I contacted his office and a staff member said they would pass my concerns about the latest bank closing to the minister.

Ahmed Hussen MP: 416-656-2526

 

14 thoughts on “TD Canada Trust closing Weston branch.”

  1. “2547 Weston Road at the 401”
    But there is no branch at this location. Is this what they’re building south of the Superstore?
    One might look at this as more of a move than an abandonment, but I would agree in any case it is unfortunate to see businesses deserting the “downtown” for a strip-mall

    (and don’t they know – if they just held on a little longer until the John Street tower is finished, the commercial heart of Weston will be REVITALIZED!)

  2. ** DON’T FORGET – WE HAVE AN EXCELLENT ” CREDIT UNION – FORMALLY VICTORY COMMUNITY CREDIT UNION – NOW LUMINUS FINANCIAL CREDIT UNION – IN THE WENDY/TIM HORTON PLAZA ON LAWRENCE AVE. – WELL WORTHY – FOR ALL THAT WISH TO BANK LOCALLY – PHONE # 416 243-0686

    1. The Merger of the Credit Unions has made a very “solid and stable” financial institution – with it’s head office at 1 Yonge St.

  3. I will preface my comments by saying I am outraged by this move.

    According to a long-time staffer who I spoke to on Monday, their reasons are 3-fold: they need more room; the building is falling apart including regular flooding in the basement; and they need more parking. I agree they probably need more space as this branch is almost always busy, especially since they merged with another branch. Now those people along with ours will have to shlep even further. With regards to the flooding – that was always the case in this location because of the culvert running under the building – did it not occur to the bank mgt to put in the proper sump-pump like all the residents need to do on certain streets? A big duh for me. And as for parking – there is a parking lot at Shoppers which is often not full – make arrangements. Or see if Ward Funeral is amenable to allow short-term parking. Or park on the street and pay for parking like many have to do in other neighbourhoods.

    I am concerned with how people who are vulnerable, ie: disabled, low-income, new immigrant, are going to be able to manage this move. It will now cost someone over $6 to get to the bank and back not to mention the time to travel there. Will the disabled be able to get there? Is the bank taking into consideration that the extra $7 to travel to the new location is not possible given their circumstances? This is what ACORN should bitch about, not new development.

    I am hoping that our local credit union will be able to fill the gap that the bank leaves. We have a wonderful group of people at Victory Community Credit Union, now called Luminus Financial. I would love to see them move from Lawrence to here and take on those who cannot move. I see that as a bit of a win-win.

    1. The move has been no secret for over a year. Hell the property at Supersyote had a TD banner for over 3 months. To pretend this is news is a joke. They are moving to where their customers are. John st building will do nothing for Weston.

    2. May I recommend Tangerine.ca (the on-line bank of Scotiabank). For those of us poor Westonians who have a computer and are on-line, this is the way to go. No sercice charges and you earn interest, even on a chequing acct. If you open a new acct and deposit $100 minimum before July 31st, Tangerine will deposit an add’l $50 in your acct + another $50 in the acct of the referal party! That would be me! Contact me: ur1withus1116@gmail.com for more info. OR, join Luminus Credit Union: excellent services and classy staff at the old VCCU location. Adrienne and Joan will treat you especially well.

  4. Thanks, Roy for your report.

    And, Worker Bee’s observations are pretty much bang on, certainly when it comes to parking.

    Where?

    Where can that bank’s customers (or for that matter, BMO’s at Weston & John) park reasonably without stopping & standing illegally across from that little branch, initially Canada Trust – with super long hours of business?

    As we speak, TD is about to move for the third time, I believe. First, from the Church Street Plaza, then from Patika & Jane, and now to arguably the worst designed shopping area in the region.

    Maybe the BMO branch should step up a bit more, or are they next to take a hike? (And, parking sucks there, too.)

    A pox on them all.

    So, maybe credit union should be considered seriously – as long as you don’t get a little too nervous about all their changes, too.

    How long will or can they stay afloat?

    I guess, better get ready to frequently shuttle our elderly parents up to that socalled Superstore plaza.

    Frankly, Superstupid plaza.

  5. Oh, and excellent observations about our Liberal paratrooper MP, who along with most Liberal seat winners last election, did so on the coat tails of the super smooth & handsome educator/motivational speaker, who had a famous father.

    Is there any wonder why many politicos are not to be trusted, despised or detested?

    Perhaps it’s the same everywhere – pinch your nose and then vote for the lesser evil, hoping the terms of tenure never get longer than 4 years.

  6. Back to banking, for a moment.

    Picture this, and perhaps in some weird way this relocation has the blessing of our local law enforcement agencies.

    There was a time when a bank robber would love to hit a branch near a major highway – and in this case what could be more useful than the interchange of the 401 & the 400, right?

    However, if the next lone wolf, criminal genius fails to prep properly for his great getaway, he’s most likely to get caught up in those dumb ass roadways at Crossroads – well before he even gets close to the insane 24 hour traffic jams on those 400 series roads.

    (Hey, maybe there’s another nutty Guy Ritchie movie in the making here, Turkish.)

  7. Another appalling desertion of the people who depend on this branch, seniors and people with disabilities and new immigrants!

    Payday loan companies will rush into the gap.

    Mr Hussen? It’s an election year.

  8. I really don’t think Ahmed Hussen will listen to our complaints or concerns. He hasn’t done much since he was elected.

  9. why would the bank consult with you to ask if its okay to close…LOL!!! Honestly the branch is moving to a better location and its not that far from the old location….if Weston Rd, was kept up and a little more nicer looking, perhaps the branch would of stayed…..oh well expect more rental towers as most of the buildings along Weston Rd between King and John are being bought up…..yay more crappy rental towers….

  10. One great thing about life in Canada – we’re free to make a choice of our own preference – even if those choices are few and far between.

    The best “vote of confidence” would be to deal with another institution entirely. It’d be a bold statement.

    (Hey,why not take your money somewhere else – you’ll have to drive anyway!)

    Perhaps then and only then would the bankers & merchants truly understand the complaints about their lack of real customer service in any given community – which really would say, “your Brand stinks, and I’m taking my hard earned money elsewhere. See ya.”

  11. Yes it’s old news, but the ‘official’ letter advising of the closing arrived in customer’s mailboxes this week. I am one of the lucky customers for whom this is the 4th move. I phoned the number on the letter. After an 18 minute wait, the cheery customer service agent promised to ‘take down my concerns’. I asked to speak to the author of the letter (Paul D’Alessandro, District Vice President). She advised that customers were not allowed to speak to him, and that I had to speak to the branch manager, Han Tran. I was transferred, and got voice mail. Nelson called me back within a 1/2 hour and eventually I spoke to Mr. Tran. He advised that it was parking, flooding, and crowding that determined the need to move. I asked why they couldn’t keep both open. He did not have an answer. I asked if they were going to provide TTC fare to customers for whom travel to the new branch will be a hardship. He did not have an answer. The leaflet accompanying the letter suggests that TD will hold an information meeting to discuss the plans if they determine that the move will cause concerns for some customers. Mr. Tran confirmed that no such meeting was held. He did provide me with the email of Mr. D’Allesandro, with whom I will be communicating.

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