Sunday, September 26, 2021

Huntington Bank acquired TCF and entered Sao Paulo on the Lafayette Bridge impolitely: “Hello, Minneapolis!”

For weeks, billboards on the Lafayette Bridge in Sao Paulo announced the arrival of Huntington Bank, but it did so in a completely wrong way. “Hello, Minneapolis!” Reading more than life’s disrespect, more than one São Paulo resident shook his head in disbelief.

The Columbus, Ohio-based financial institution completed the acquisition of the relatively small TCF Bank in June, consolidating TCF’s second merger in many years, and it has entered a multifaceted manner like a lion. field of.

Highland Park resident Joe Nathan said on a social media billboard on Tuesday: “A typical example of the mistakes people outside the city make.”

There was no immediate response to Huntington Bank’s call for comment on Wednesday.

The name of the UMN Stadium, the logo has been changed

In the national media, the capital city of Minnesota has long been a minor city for the big cousin across the Mississippi River. In 2008, during the Republican National Convention, CNN reporters standing outside the Xcel Energy Center in downtown St. Paul told the world that they were reporting live in Minneapolis, which caused some groans from the Sao Paulo audience.

But this is different. Unlike the national broadcast media, Huntington Bank is more than just passing by. Until recently, TCF was an institution in Minnesota with a history of nearly 100 years.

The combined company has changed the name and logo of the former TCF Bank Stadium at the University of Minnesota in Minneapolis to Huntington Bank Stadium.

In a game that some might call iconicism, Gophers Football will face the Ohio State Buckeyes in a newly renamed competitive scene at 7pm on Thursday. The game will be broadcast nationwide on FOX.

Mergers are nothing new

Huntington Bancshares, Inc. — ranked 510th before Fortune 500 acquisitions — completed an all-stock merger with Detroit-based TCF Financial Corp. in June, placing a Midwest bank among the top 25 nationwide and top 10 regional of. Huntington plans to expand in Minnesota and Colorado and will maintain approximately 80 branches in the Twin Cities Metro. Starting in October, TCF’s online customers will access their accounts through the Huntington-branded website.

Bank mergers are nothing new, but back-to-back mergers to reshape and eradicate established financial institutions have attracted more attention. Founded in 1923, TCF Financial was formerly known as the Twin Cities Construction and Loan Association, headquartered in Vezata, until it merged with the Detroit Chemical Bank and moved its headquarters in 2019.

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The Detroit News reported in June that The combined assets of Huntington are approximately 175 billion U.S. dollars (Huntington had approximately US$120 billion before and TCF approximately US$50 billion), US$142 billion in deposits and US$116 billion in loans, based on the balance on March 31. The company’s commercial banking headquarters will be located in the old TCF headquarters in Detroit, while the headquarters of its holding company and consumer bank will be located in Columbus.

What customers need to know

TCF customers will now receive a welcome package from Huntington Bank, if they haven’t already. Don’t just throw it away, as it may contain important information about how to attract a previous TCF account to a Huntington account. This is a more complicated task than it might seem at first glance.

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For example, Huntington offers three types of checks: “Unstarred” checks, which require no monthly fees or minimum balance requirements; the interest-bearing “Huntington 5 Checking”, which charges a monthly fee of US$5 for balances below US$5,000 and allows Five free ATM withdrawals from other banks; and the highest interest “25 Checking”, which charges a monthly fee of $25 for balances less than $25,000 and allows unlimited free ATM withdrawals from other banks.

Huntington charges overdraft fees, but it provides customers with overdraft checking accounts with a 24-hour grace period, giving them the opportunity to pay in a timely manner. It also allows a “safe zone” of $50, so there is no charge for an overdraft of $50 or less. An account with a negative balance within 60 days will be closed.

From 7pm on October 8th, TCF digital banking services will be unavailable. TCF bank branches and other services will be closed from October 9th to 11th, and digital banking applications will also be closed. Customers can still use debit cards and checks to make purchases and use them at ATMs.

On October 12, TCF Bank Center will reopen as a Huntington branch, and online account access will begin on Huntington.com and Huntington mobile apps.access tinyurl.com/TCFTransition Want more information.

Huntington Bank acquired TCF and entered Sao Paulo on the Lafayette Bridge impolitely: "Hello, Minneapolis!"
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