Shoppers Charge Accounts Co. to Become TD Retail Card Services



    
    - Re-branding of private label credit card company corresponds with
    enhanced product and service offerings and a new approach to what has
    become a commodity business
    

    MAHWAH, N.J., June 16 /CNW/ -- Shoppers Charge Accounts Co., a top-10
provider of private label credit programs and a division of TD Banknorth Inc.,
announced today that it is changing its name to TD Retail Card Services.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20080616/NYM107 )
    
    The new name leverages the financial strength and Customer focus of TD
Banknorth's parent company, TD Bank Financial Group, and dovetails with TD
Retail Card Services' expansion into the Canadian market. As part of its
re-branding effort, TD Retail Card Services has also enhanced its product
offerings and services, technologies and marketing initiatives.
    "Our decision to rename the company corresponds with an evolution of our
strategy to run a card business with the mindset of a retailer," said TD
Retail Card Services President Marc G. Sczesnak. "Successful retailers
recognize that the level of service and product options have a direct effect
on their brand. At TD Retail Card Services, we know the value of highly
personalized service and customized solutions, as Customers and as
professionals. We also understand the importance of a retailer's brand. Today
we are bringing this mindset together with the resources of TD."
    The TD name and the backing of one the largest financial service firms in
North America also provide the resources necessary to partner with
middle-market and large retailers in start-up or in a portfolio acquisition
capacity.
    "As we move forward under our new name, our opportunity is to think
beyond the transaction. It's all about getting to a Customer's payment
preferences and supporting retailers to get 'spend' and shopping 'frequency'
to new levels," Sczesnak explained. "The days of dictating how people pay are
over. It's up to retailers to have a loyalty currency that celebrates the
relationship in ways that involve the Customer. Mid-size retailers know how to
accomplish this better than anyone. We want them to know we're thinking the
same way."
    The re-branding is being directed by an expanded senior management team
led by Sczesnak, who joined the division late last year after being at the
marketing helm of two of retailing's largest private label card programs.
During his years at the credit card operations of Sears and Macy's, he helped
to extensively grow these programs and extend the product suite. Shortly after
his arrival, Sczesnak moved to add to the division's management team bench
strength by recruiting leaders from top retailers and issuers.
    TD Retail Card Services was founded in 1937 as Shoppers Charge Accounts
Co. and was acquired by Hudson United Bank in 1994. The company became a
division of TD Banknorth in January 2006 and currently ranks as the
seventh-largest provider of private label credit, with over one million cards
in circulation between the US, Canada, Puerto Rico and the US Virgin Islands.
Its client list today includes the retail operations of prominent retailers
and manufacturers including Movado, Fred Meyer, Pfaltzgraff, Bang & Olufsen,
The Source By Circuit City, Briggs and Stratton, B. Moss, Carlyle & Co. and
many others.
    
    About TD Retail Card Services
    
    Based in Mahwah, N.J., TD Retail Card Services (formerly Shoppers Charge
Accounts Co.) ranks among the nation's largest private label credit card
companies. A division of TD Banknorth, the company launches and administers
new credit card portfolios for brick-and-mortar, internet and catalog
merchants, and acquires retailers' existing credit card portfolios. For more
information, visit www.TDRetailCardServices.com.
    
    About TD Banknorth
    
    TD Banknorth is a leading banking and financial services company
headquartered in Portland, Maine, and owned by TD Bank Financial Group of
Toronto, Canada. Following TD Bank Financial Group's acquisition of Commerce
Bancorp Inc. on March 31, 2008, it was announced that operations of TD
Banknorth and Commerce Bank will be combined. Today, TD Banknorth and Commerce
Bank form one of the 20 largest commercial banking organizations in the United
States with over $119 billion in assets, and provide customers with a full
range of financial products and services at nearly 1,100 convenient locations
from Maine to Florida. TD Banknorth and Commerce Bank are trade names of TD
Bank, N.A. For more information, visit www.TDBanknorth.com and
www.commerceonline.com.




For further information:

For further information: TD Retail Card Services, Christina McGuinness, 
SVP, +1-201-818-4000, ext. 3908; or Parness & Associates Public Relations,
Bill Parness or Lisa Kreda, +1-732-290-0121, all for Shoppers Charge Accounts
Co., Web Site: http://www.TDRetailCardServices.com,
http://www.TDBanknorth.com, http://www.commerceonline.com

Organization Profile

SHOPPERS CHARGE ACCOUNTS CO.

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TD BANKNORTH INC.

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