More Than Wheels

Alliance to Assist More NH Residents Purchase Cars

Manchester, NH (June 24, 2010) - Bonnie CLAC (Car Loans and Counseling) announced today their name change to More Than Wheels and the moving of their headquarters from Claremont to Manchester, NH. More Than Wheels’ mission is to help break the cycle of poor financial decision-making for struggling individuals and families using the car buying process as a catalyst to bring lasting change, economic stability and control.

In addition, More Than Wheels announced today at their office in Manchester an exciting new program and partnership with TD Bank, America’s Most Convenient Bank. The program has three components and will assist in helping meet the transportation needs of the community throughout New Hampshire. The first area is a grant in the amount of $100,000 that will provide assistance to More Than Wheels’ clients through a matching savings program and the remainder will be used for operating assistance for the organization. The grant is made possible through the NH Community Development Finance Authority and its tax credit program.

Part two of the program will allow for volunteers from TD Bank to teach Financial Fitness classes to More Than Wheels’ clients which is a requirement for completing the program. Part three of the program allows for employee volunteers from TD Bank to provide technical assistance More Than Wheels’ Client Consultants on credit analysis.

“TD Bank is excited to invest in our employees, customers and the community through this innovative program with More Than Wheels” said Steven Webb, NH Market President for TD Bank. “This investment not only helps provide reliable affordable transportation to those who need it most but it provides financial education which strengthens our communities in New Hampshire allowing individuals and families to have a better quality of life” said Webb.

Clients who enroll in the program come out of the program with so much more than a car. Based on a study from the Carsey Institute, clients enrolled in the More Than Wheels program saw a 65% increase in the use of checking accounts, a 50% increase the use of online payments and a 45% increase in the use of family budgets. There was also a 45% decline in the usage of emergency food outlets and a 57% drop in the use of a hospital emergency room for themselves and their children.”

“I am very pleased to work our wonderful partners from TD Bank and the Community Development Finance Authority,” said Terri Steingrebe, CEO of More Than Wheels. “Their commitment to the community and those with serious transportation needs is both refreshing and commendable. The lack of transportation prevents individuals and families from taking advantage of opportunities in employment, better access to health care, and a better quality of life. Our partners’ commitment to invest in this programs shows that they not only care about affecting short term improvements, but also long term outcomes that really make a difference to the communities across our state.

About More Than Wheels
More Than Wheels is an award-winning nonprofit organization that helps people get the best deal on a reliable and fuel-efficient car. Since its establishment in 2001, More Than Wheels has helped over 1,300 New England residents get the best deal on a new or nearly new car by negotiating with dealers to secure the lowest price and providing the lowest interest rate available. More Than Wheels provides personal financial education by giving people the tools and knowledge they need to improve and maintain their financial stability—now and in the future. Visit www.morethanwheels.org for more information.

About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 15 largest commercial banks in the United States with $160 billion in assets, and provides customers with a full range of financial products and services at more than 1,100 convenient locations from Maine to Florida. Effective April 16, 2010, TD Bank has acquired certain assets of Riverside National Bank of Florida, First Federal Bank of North Florida and AmericanFirst Bank, and currently operates under those trade names. TD Bank, N.A., is headquartered in Cherry Hill, N.J., and Portland, Maine. For more information, visit www.tdbank.com.