Tar sands opponents target TD Bank

NEWS RELEASE
March 20, 2012

Contact
Hannah Morgan
802-359-3520

Montpelier, VT — Dozens of climate justice activists and supporters of the Tar Sands Blockades in the U.S. and Canada are rallied today at TD Bank on Main St in Montpelier, demonstrating opposition to the Alberta tar sands project.

Their target was TD Bank on Main St in downtown Montpelier. TD Bank has more than 15 billion dollars invested in the expansion of the Alberta tar sands project. A group of people closed their TD accounts in protest and shared their concerns about the bank’s well-documented involvement with tar sands corporations Enbridge and TransCanada. “I will not allow TD Bank to use my money to fund the most massively destructive climate crimes on the planet!,” said one climate activist as she closed her TD account.

“TD Bank is one of the largest financiers of the tar sands, having invested billions of dollars over the past decade. By closing your accounts with TD Bank you are taking a small but important action against tar sands development. But ultimately we need TD Bank to make a commitment to their clients and to the climate not to fund environmental devastation and injustice,” said one event organizer Erik Gillard.

Protests come on the heels of nearly 30 towns passing Town Meeting Resolutions opposing the transport of tar sands oil through Vermont’s Northeast Kingdom. “The transport of tar sands bitumen poses severe
risks to the communities burdened by pipeline projects. Toxic spills are inevitable. We must pressure TD Bank to cease its funding of such dangers,” said a Northeast Kingdom resident who came down to close his account at Wednesday’s action.

These actions coincided with demonstrations in over 40 cities worldwide this week.

tarsandsblockade.org

risingtidevermont.org

 

Comments

  1. James Leopold :

    I would like to know why the State of Vermont chooses to do it’s banking with TD Bank.

    There are several Vermont owned banks that could handle the job, including the Merchants Bank, Northfield Savings Bank, and National Middlebury of Bank, to name a few.

    Does anyone have the answer?

    • Well, TD Bank has been incorporated in Vermont since 1870. So there’s that.

      I would hope the process was a simple RFP, and TD Bank had the best offer, but I rather doubt that was the case. Wheels need grease & all politics is dirty.

      I am, however, under the impression that 20-25% of VT State Gov deposits are with TD Bank — it’s not an exclusive or all-encompassing deal, just some accounts.

      Bottomw line: Vermont needs a state bank, but that’s not news to VT Digger readers.

  2. Ron Pulcer :

    James,

    FYI, There is some connection between TD Bank, TD BankNorth, along with the former BankNorth, and former First Vermont Bank, which were gobbled up in acquisitions and mergers in the past decade-plus years.

    http://en.wikipedia.org/wiki/TD_Banknorth

    http://en.wikipedia.org/wiki/TD_Banknorth#First_Vermont_Bank_.26_Trust_Company

    But you ask a valid question, now that these former Vermont and New England banks are now Canadian-owned. Why not look at local banks?

Comments

*

Annual fundraising appeal: If we had a dollar for every comment, we could end this annual fund drive now. Donate now.
Comment policy Privacy policy
Thanks for reporting an error with the story, "Tar sands opponents target TD Bank"