TCF Bank is headquartered in Sioux Falls and is the 3rd largest bank in the state of South Dakota. It is also the 48th largest bank in the nation. It was established in 1923 and as of June of 2020, it had grown to 6,855 employees at 515 locations. TCF Bank has an A health rating.
I joined TCF Bank when I moved back to southeast Michigan, as my previous bank in New York did not offer locations in my area. I signed up for a checking account from TCF, which included free use of a VISA debit card and no maintenance fees. I now use my card as my primary source of payment for everyday use; I do not carry cash. The web banking site is very user-friendly and secure, which is a huge plus. Another perk of TCF is that most every location is open on Sundays -which is very uncommon! While I typically execute transactions through the ATM or electronically, the staff has also been friendly when I have stopped inside. One thing I do not like is that cash deposited through ATMs after 3 p.m. is not available until the next business day and checks deposited the same way are subject to a two-day hold. Other than that, I am a happy TCF customer!
TCF Bank is good at banking the old fashion way. Their mobile app could use some work. I have had times where there were problems with my account and was able to work with a rep directly to get it resolved. Once it was fraud and they closed my account and was able to reopen a new one and another time a check was taken out of my account twice. That time I had to fight for the funds and almost closed my account but the rep who took over the issue was able to get it resolved and kept me as a customer. This bank could use more locations as the ones are few and far between but I believe they are an upcoming bank and will grow in the future.
Horrible customer service. I mean absolutely horrible. Representatives are not very knowledgeable, or they try to mislead you. My latest call took TWO HOURS to speak to someone. They don't even have a call back service. It's 2020 people. Get it together. So you literally sit on hold for two hours listening to some awful music. There are enough banks and lenders out there - steer clear of this company.
|FDIC Certificate #||28330|
|Return on Assets - YTD||0.35%|
|Return on Equity - YTD||3.06%|
|Annual Interest Income||$933.9MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$50.04B$24.64B|
|Loans||Q2 2020vs Q2 2019||$35.61B$19.11B|
|Deposits||Q2 2020vs Q2 2019||$39.42B$19.30B|
|Equity Capital||Q2 2020vs Q2 2019||$5.43B$2.52B|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$461.1MM$146.5MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$285.7MM$110.8MM|
|Real Estate Owned||Q2 2020vs Q2 2019||$42.7MM$12.0MM|
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