New TCF Banking Center Opens on West Seven Mile in Detroit

Rhea-AI Summary

TCF National Bank, a subsidiary of TCF Financial Corporation (TCF) (NASDAQ: TCF), has opened a new banking center in Detroit, addressing the lack of nearby banking services, with the closest bank over three miles away. Located within the Arab American and Chaldean Council (ACC) Community Center, it offers a comprehensive range of financial services to local residents. TCF also donated $25,000 to support the ACC's community initiatives. This opening reflects TCF's commitment to community access and its plans for further expansion in the Detroit area.

Positive

• Opened new banking center in underserved Detroit neighborhood.
• Provides comprehensive financial services to local residents.
• Partnering with ACC enhances community engagement.
• Donation of $25,000 to ACC supports local initiatives.
• Plans for additional locations in Detroit indicate growth.

Negative

• None.

TCF National Bank, a subsidiary of TCF Financial Corporation (TCF) (NASDAQ: TCF), on Friday celebrated the opening of its newest banking center in Detroit, which fills a gap in a location where the nearest bank is more than 3 miles away. The new banking center is inside the Arab American and Chaldean Council (ACC) Community Center on the city’s west side and offers a full suite of products to accommodate the financial needs of customers who live within the neighborhood and its surrounding communities.

Entrance to the TCF - ACC 7 Mile Banking Center, located at 55 W. 7 Mile Road in Detroit. The banking center fills a gap in an under-served Detroit neighborhood where the next-closest bank is 3 miles away. (Photo: Business Wire)

“We are excited to be partnering with a wonderful organization on the opening of our new ACC 7 Mile Banking Center, which underscores our ongoing commitment to Detroit neighborhoods and the revitalization of our headquarters city. We recognize that providing easy access to banking services close to where people live and work helps residents and small businesses fulfill their dreams,” said TCF Executive Chairman Gary Torgow. “We are proud to provide the residents in this community with innovative technology solutions to enhance their banking experience.”

TCF worked with the ACC to assist with site selection of the new banking center at 55 West Seven Mile Road, where residents and the surrounding community can have access to a bank within close proximity of their homes. As part of the grand opening celebration, TCF presented the ACC with a $25,000 donation to support the organization’s work the community.

“It is so wonderful to have TCF Bank as part of the ACC Community Center and available for local residents to access easily,” said ACC President and CEO Dr. Haifa Fakhouri. “Providing much-needed banking services alongside financial literacy education is a critical part of ensuring the livelihood of people who live in the surrounding communities. We are pleased to help bring these much-needed amenities to our citizens.”

In mid-April, the bank will open another new Detroit location in the Grandmont Rosedale community, which is TCF’s Strategic Neighborhood Fund partner.

About TCF: TCF Financial Corporation (NASDAQ: TCF) is a Detroit, Michigan-based financial holding company with $48 billion in total assets at Dec. 31, 2020 and a top 10 deposit market share in the Midwest. TCF’s primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses and commercial clients. TCF has approximately 470 branches 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. To learn more about TCF, visit tcfbank.com.

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Source: TCF Financial Corporation

View source version on businesswire.com: https://www.businesswire.com/news/home/20210226005458/en/

FAQ

What is the significance of the new TCF banking center in Detroit?

The new TCF banking center fills a service gap in an underserved area, providing essential banking services within three miles of the nearest bank.

What financial services does the new TCF banking center offer?

The center offers a full suite of banking products to meet the financial needs of the local community.

What community initiative did TCF support during the banking center's opening?

TCF presented a $25,000 donation to the Arab American and Chaldean Council to support its community programs.

When will TCF open another banking center in Detroit?

TCF plans to open another new location in the Grandmont Rosedale community in mid-April.

Where is the new TCF banking center located?

The new banking center is located at 55 West Seven Mile Road in Detroit.