Detroit-based TCF National Bank today completed its integration with Chemical Bank. TCF retired the Chemical brand and unveiled its new brand platform and ad campaign.
The bank’s new headquarters are being built in downtown Detroit, and the companies announced their merger in January 2019. The merger of equals in which TCF Financial Corp., originally based in Minnesota, merged into Detroit’s Chemical Financial Corp., was closed on Aug. 1, 2019, forming Michigan’s largest national bank holding company.
“TCF is a purpose-driven company passionate about how we can help people and businesses realize their dreams,” says Craig R. Dahl, president and CEO of TCF Financial Corp. “As one TCF, we can bring the full breadth and depth of our services – and our team members’ expertise – to support our customers and communities. Today is a historic day for the new TCF, and we want all of our customers to know that with the final step complete in the merger of equals, we remain deeply committed to the communities where we live, work, and serve.”
The company’s new tag line is “What’s in it for We,” and the integration follows TCF’s announcement of a $1 billion loan commitment to minority communities and minority- and women-owned small businesses. Its other local and regional partnerships include:
- A $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, as well as more than $800,000 in team member matching gifts;
- Partnerships including those with the University of Minnesota to support scholarships, the naming of Detroit’s TCF Center, and the company’s sponsorship with the Detroit City marathon.
As of today, TCF’s primary banking subsidiary, TCF National Bank, rebranded all of its banking centers across TCF’s footprint under the TCF Bank name. About 200 banking centers in Michigan and Ohio that previously operated as Chemical Bank were impacted by the name change. All consumers now share a common digital banking and mobile app as well.
“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,” says Tom Shafer, president and COO of 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, Mich., 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.”
TCF Financial Corp. had $50 billion in total assets as of June 30.