Big changes are coming for TD Bank customers in New Jersey—whether they’re ready or not.
The Canadian-owned financial giant plans to close six Garden State branches by early June, part of a sweeping national reduction that will see 38 branches shut down across the country. The closures are set to take effect on June 5, according to a company spokesperson.
Among the New Jersey locations losing their doors: two in the northern part of the state and four more spread across central and southern counties. The affected branches include:
- 145 Skyline Drive, Ringwood
- 1 Royal Road, Flemington
- 670 Laurel Ave., Holmdel
- 191 E. Route 70, Marlton
- 85 Pompton Ave., Cedar Grove
- 555 Warren Ave., Spring Lake Heights
Once the closures are finalized, TD Bank will operate 216 branches statewide, down from 222 (and counting).
Bank Closures Come on the Heels of Major Controversy
The announcement follows a turbulent stretch for TD Bank, which has recently been in hot water over its involvement in a massive money-laundering scandal. The bank recently agreed to pay $3 billion after pleading guilty to allowing drug money—linked to Chinese criminal organizations and fentanyl trafficking—to be washed through its U.S. branches. Federal authorities say the scheme involved bribed employees and duffel bags stuffed with illicit cash dropped off at branches in New Jersey and New York.
The fallout has been severe. TD’s U.S. retail chief, Leo Salom, saw his salary slashed in the wake of the scandal, as the bank scrambles to repair its public image and tighten internal controls.
Fewer Banks, More Concerns for Communities
TD Bank claims the upcoming closures are simply part of routine business reviews. “We continuously evaluate our store network to meet the evolving needs of our customers,” said spokesperson Thomas Rigg. But the timing raises eyebrows—and not just among customers.
The wave of recent bank consolidations across the region has sparked outcry from lawmakers and community advocates. Many fear that underserved populations—particularly seniors, low-income families, and communities of color—are being left without access to essential banking services.
This concern was reignited just last month when Provident and Lakeland Banks finalized a major merger and eliminated 22 branches across New Jersey.
With physical branches disappearing at a steady pace and trust in major banks under renewed scrutiny, many residents are left wondering: Is your bank next?
Michael is the Editor-in-Chief of New Jersey Digest and Creative Director at X Factor Media. A Bergen County native, he discovered his passion for storytelling while studying at Montclair State University. In addition to his work in journalism and media, Michael is an avid fiction writer. Outside the office, he enjoys kayaking, a bold glass of Nebbiolo, and the fine art of over-editing.