TD Bank's U.S. Partnerships business – a U.S. credit card issuer – announced that it signed a multi-year agreement with Darvin Furniture and Mattress, a home furnishings retailer operating in Chicago for 98 years. Through this partnership, TD will provide Darvin Furniture and Mattress customers with private label credit card financing options.
"It was critical for us to find a financing partner who embodied our same ideals with regard to customer service and experience," said Steve Darvin, Co-Owner, Darvin Furniture and Mattress. "We've worked hard to establish a strong and loyal customer base, so meeting their financing needs with a partner who is knowledgeable and who will put them first was extraordinarily important to us. Culturally, TD and Darvin are incredibly well-aligned. TD focuses on providing a positive customer experience at every exchange. We strive for the same, so this just felt like a great fit for us."
"We couldn't be happier to have Darvin Furniture and Mattress as a partner," said Mike Rittler, Head of Partnership Programs, TD Bank. "Darvin's long history and reputation in the market is exemplary and we look forward to offering financing options that provide flexibility and value to their loyal customer base."
More consumers are looking for ways to balance big ticket furniture purchases while remaining within their monthly budget. In fact, TD Partnerships recently conducted its inaugural Retail Experience Index survey and found that significantly more (39 percent) furniture shoppers research financing options for their next purchase compared with shoppers overall (22 percent). Of those who researched financing options, 76 percent did so in-store with the help of a sales associate, underscoring the importance of a well-trained and knowledgeable sales staff.
TD Bank's U.S. Partnerships business launches and administers new credit card portfolios for merchants across all sales channels, and acquires retailers' existing credit card portfolios.
About Darvin Furniture and Mattress: Darvin Furniture and Mattress is Chicagoland's largest furniture and mattress store, and one of the top 100 furniture retailers in the United States. Darvin Furniture and Mattress is a family owned business dedicated to providing the finest selection of affordable, fashionable home furnishings at a value and customer service level unequaled in the marketplace.
About TD Partnerships: TD Bank Group's credit card business is a top 10 card issuer in North America with over $27B in card receivables. TD Bank's credit cards are distributed nationally, leveraging our retail distribution network, direct response channels and through hundreds of partnership programs with financial institutions, retailers and other third-party organizations.
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.
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".