CHERRY HILL, N.J., June 4, 2019 /PRNewswire/ -- TD Bank,
America's Most Convenient Bank® and TD Securities are
proud to be a platinum level sponsor of WorldPride 2019, a series
of events that will mark the 50th anniversary of the Stonewall
Uprising, culminating in the Pride March in Manhattan on June
30. To celebrate the progress achieved to date, and the
journey to inclusion that remains, TD Bank and TD Securities
today released a workplace and financial equality survey of more
than 1,200 full and part-time Lesbian, Gay, Bisexual,
Transgender, Two-Spirit, Plus (LGBTQ2+) workers in the U.S. The
survey found that only half of millennial LGBTQ2+ workers rate
their current financial situation positively, with 60 percent of
millennial respondents admitting to having less than three months
of emergency savings and 71 percent of those with a bachelor's
degree struggling with student loan debt.
"At TD Bank, we are honored to sponsor the upcoming WorldPride
events which celebrate the lives of our LGBTQ2+ community as we
strive to always encourage inclusivity," said Girish Ganesan, Head of Talent, TD Bank. "To
demonstrate our commitment, TD Bank was the first bank to create a
Vice President for Business Development role with a specific duty
to ensure that the financial needs of the more than 750,000 New
Yorkers who identify as LGBTQ2+ are being met."
LGBTQ2+ Workplace Equality Still an Uphill Battle
The recent passage of the Equality Act by the U.S. House of
Representatives is a powerful step towards a future where millions
of LGBTQ2+ Americans and their families no longer have to worry
about being treated as less than equal in their places of work.
However, discrimination is still a daily reality for many workers
in the U.S.
- Over one-fifth (22%) of millennial workers feel that being out
about their sexual orientation to more senior staff will hurt their
career advancement
- While millennial workers are equally likely as older
generations to be out in the workplace, less than one-third (33%)
of millennial workers see senior management members who are out as
LGBTQ2+ community members
Creating an LGBTQ2+ Inclusive Workplace
When it comes to creating an inclusive company culture for
LGBTQ2+ workers, many employers must do more to keep up with the
cultural shifts that are being driven by conversations around
inclusivity, gender identity and diversity.
- 42 percent of millennial LGBTQ2+ workers either use
gender-neutral pronouns for themselves or have a partner or close
friend that uses gender-neutral pronouns, compared to only 26
percent of LGBTQ2+ Gen X and Baby Boomer workers
- 68 percent of millennial LGBTQ2+ workers surveyed responded
that a company having "a gender identity and expression
non-discrimination policy" is most important in a workplace
- Only 18 percent of LGBTQ2+ millennial workers indicated that
they have access to an LGBTQ2+ Employee Resource Group at their
place of work
- Of those who have access to LGBTQ2+ resource groups, 57 percent
are members
- When asked what is most important in a workplace, 80 percent of
millennial LGBTQ2+ workers said "sexual orientation
non-discrimination policy" is very important
Millennial workers demand that employers have employment
non-discrimination policies that assure a level playing field in
the workplace. The TD survey found that LGBTQ2+ positivity is an
important consideration for millennials when choosing an employer
with almost two-thirds of workers looking at an employer's
reputation as an LGBTQ2+ inclusive organization before pursuing
employment opportunities. Organizations that can foster a workplace
culture where the LGBTQ2+ community feels supported and safe will
be more competitive and will be better able to attract and retain
the best talent.
LGBTQ2+ millennials are not confident when it comes to managing
their finances and achieving financial stability. Only half of
millennial LGBTQ2+ workers self-evaluate their financial situation
positively, nine percent lower than that of LGBTQ2+ Generation X
and Baby Boomer workers (59%). Student loan debt has forced
millennial workers to put off significant life goals, most
importantly building emergency savings (63%), saving for retirement
(51%) and buying a house (46%).
- 60 percent of LGBTQ2+ millennial workers have less than three
months of emergency savings
- 71 percent of the millennial workers with a bachelor's degree
have current student loans and their median student loan debt owed
is $40,000 per person
- Almost one fifth of LGBTQ2+ workers have $100,000 or more in student loan debt
"The freedom to be your fullest self that equality enables in
each of us can empower success in every facet of our lives," said
Jonathan Lovitz, LGBTQ2+ Youth and
Business Advocate. "This survey shows us that it is important for
organizations like TD Bank to take steps in understanding the
obstacles that LGBTQ2+ communities face so we can better become
advocates for cultivating inclusive environments in our workplaces,
and throughout society."
TD's support of WorldPride 2019 aligns with the Bank's launch of
The Ready Commitment, a corporate citizenship platform designed to
open doors for a more inclusive tomorrow through community giving
in four areas – financial security, vibrant planet, connected
communities and better health. TD Bank will have two floats in the
New York City Pride March and
will also be sponsoring the New York Public Library's Stonewall 50 Exhibit, commemorating the
Stonewall Riots that took place in 1969.
About TD Bank, America's Most Convenient
Bank®
TD Bank, America's Most Convenient Bank, is
one of the 10 largest banks in the U.S., providing more than 9
million customers with a full range of retail, small business and
commercial banking products and services at more than 1,200
convenient locations throughout the Northeast, Mid-Atlantic, Metro
D.C., the Carolinas and Florida.
In addition, TD Bank and its subsidiaries offer customized private
banking and wealth management services through TD
Wealth®, and vehicle financing and dealer commercial
services through TD Auto Finance. TD Bank is headquartered in
Cherry Hill, N.J. To learn more,
visit www.td.com/us. Find TD Bank on Facebook
at www.facebook.com/TDBank and on Twitter at
www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank
Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services
company in North America. The
Toronto-Dominion Bank trades on the New
York and Toronto stock
exchanges under the ticker symbol "TD". To learn more, visit
www.td.com/us.
About TD Securities
TD Securities is a leading
corporate and investment bank. Operating out of 15 offices in key
financial centres, we offer a full suite of capital markets
products and services to our corporate, government, and
institutional clients around the world. Our services include
underwriting and distributing new issues, providing trusted advice
and industry-leading insight, extending access to global markets,
and delivering integrated transaction banking solutions.
About TD Global Corporate Citizenship
TD has a
long-standing commitment to enriching the lives of its customers,
colleagues and communities. As part of its corporate citizenship
platform, The Ready Commitment, TD is targeting CDN $1
billion (US $775 million) in total by 2030 towards
community giving in four areas critical to opening doors for a more
inclusive and sustainable tomorrow – Financial Security, Vibrant
Planet, Connected Communities and Better Health. Through The
Ready Commitment TD aspires to link its business, philanthropy and
human capital to help people feel more confident - not just about
their finances, but also in their ability to achieve their personal
goals in a changing world. For further information,
visit www.td.com/thereadycommitment
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SOURCE TD Bank