Marketing and Lead Generation

TD Bank Targets Purchase Loans

By Brad Finkelstein

TD Bank, Cherry Hill, N.J., has made a reputation through its marketing campaigns as "America's Most Convenient Bank." But what it is now looking to make a name in is in mortgage lending and to drum up more purchase loan business.

So the company is now running a contest over the next six weeks where the grand prize is up to $250,000 to pay off a mortgage.

The contest is open to TD Bank customers who apply for a purchase loan or refinance a mortgage in the bank's U.S. operating footprint between Maine and Florida.

Also included are existing mortgage customers who are automatically entered into the contest. As part of the contest, which ends on April 30, six weekly winners will get $2,500 each to help with their monthly mortgage payment.

Michael Copley, senior vice president in the retail lending division at TD Bank, said the contest is to build consumer awareness about the bank's mortgage business.