TCF Bank Retires Chemical Brand, Completes Integration
DETROIT — TCF National Bank has completed its integration with Chemical Bank on Monday, retiring the Chemical brand and unveiling its new brand platform and ad campaign.
The company’s new tagline, “What’s in it for We,” follows TCF’s announcement of a $1 billion loan commitment to minority communities and minority-owned and women-owned small businesses.
The merger of equals in which legacy TCF Financial Corp. merged into Chemical Financial Corp. was closed on Aug. 1, 2019, forming Michigan’s largest national bank holding company.
As of Monday, TCF’s primary banking subsidiary, TCF National Bank, rebranded all its banking centers across TCF’s footprint under the TCF Bank name, and all consumers share a common digital banking and mobile app experience, branded as TCF Bank.
Approximately 200 banking centers in Michigan and Ohio — including in the Mahoning Valley — that previously operated as Chemical Bank were impacted by the name change.
“We have spent the past year integrating our technology systems to provide a best-in-class digital experience for our customers both on our website and through our mobile app, while also upgrading the back-end systems to meet the new TCF’s needs today and well into the future,” said Tom Shafer, president and chief operating officer, TCF Bank. “I am very proud of our team’s efforts to support our integration activities in the face of unexpected challenges, including a pandemic, working from home, civil unrest and a historic flood in Midland, Michigan, home to some of our key operations. This was not an easy task – but our team’s ability to execute our strategy despite the hardships reflects the power of our purpose and beliefs.”
In Detroit, TCF Financial Corp. is building a new headquarters, noted Craig R. Dahl, president and CEO of TCF Financial Corp.. Local and regional partnerships have been enhanced through the merger, he added. They include:
- $1 billion loan commitment over five years to minority communities and minority- and women-owned small businesses;
- $5 million commitment to Detroit’s Strategic Neighborhood Fund for the Grandmont Rosedale neighborhood, as well as a partnership with the Detroit mayor’s office for the Affordable Housing Leverage fund;
- $10 million for grants over five years to help low-to-moderate-income home buyers, known as the Heart and Home program;
- $1.9 million in donations from the TCF Foundation to more than 700 charitable partners in 2019, and an additional $831,000 in team member matching gifts; and
- Strong partnerships, including with the University of Minnesota, where TCF has donated more than $1.4 million in scholarships, renaming Detroit’s convention center the TCF Center, and the company’s sponsorship with the Detroit City marathon.
TCF’s new ad campaign that launched Monday was developed in partnership with Doner, its advertising agency of record. The brand launch will be supported by an integrated marketing strategy that includes TV, radio, print, digital and social media.
TCF Financial Corp. has $50 billion in total assets at June 30, and a top 10 deposit market share in the Midwest. TCF’s primary banking subsidiary, TCF National Bank, has approximately 475 banking centers primarily located in Michigan, Illinois and Minnesota with additional locations in Colorado, Ohio, South Dakota and Wisconsin. TCF also conducts business across all 50 states and Canada through its specialty lending and leasing businesses.
SOURCE: TCF Financial Corp.
Published by The Business Journal, Youngstown, Ohio.