Banking Blog

Finance Blogs » Banking Blog » Bank gives $200K for trees

Bank gives $200K for trees

By Marcie Geffner ·
Friday, April 26, 2013
Posted: 6 am ET

Banking not might seem to have much to do with trees, apart from the paper that money is printed on. But a new program, TD Green Streets, has found a way to bring banking and trees together.

The program is funded by TD Bank, a banking corporation headquartered in Cherry Hill, N.J., and Portland, Maine, and supported by the Arbor Day Foundation, a Nebraska City, Neb.-based nonprofit organization that aims to inspire people to plant, nurture and celebrate trees.

Launched earlier this year, TD Green Streets recently announced 10 grants of $20,000 each to be given to municipalities along the Eastern Seaboard of the U.S. to support urban forestry in those communities. Each grant will fund purchases of trees, tree plantings, maintenance and educational activities in low- to- moderate-income neighborhoods.

The 10 municipalities that will receive the grants are: Burlington, Vt.; Casselberry and West Palm Beach, Fla.; Cheltenham Township, Pa.; Greenville, S.C.; Myrtle Beach, S.C.; Newark, N.J.; Salem and Springfield, Mass., and Wilmington, Del.

To be eligible, municipalities had to be current Arbor Day Foundation Tree City USA-designated communities where TD Bank has locations. Tree City USA is an urban and community forestry program.

TD Green Streets is a component of TD Forests, which is a TD Bank initiative that aims to help protect critical forest habitats equal to the amount of paper the bank uses each year.

Diana Glassman, head of environmental affairs at TD Bank, said in a statement that the grants were awarded to "very deserving municipalities" for their urban forestry projects.

John Rosenow, chief executive of the Arbor Day Foundation, added that the program will help the cities "remain on the cutting edge" of urban forestry.

Do you think the bank industry, in general, is environmentally sensitive?

Follow me on Twitter: @marciegeff.


Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.