Cleveland, ohio >> KeyBank has been recognized as one of the 50 most community-minded banks in the U.S. The distinction was made June 20 by Points of Light, an organization focused on volunteer service.
It is the fourth consecutive year KeyBank has been named to the Points of Light 2017 Civic 50 list. KeyBank was also designated a 2017 Sector Leader in Financials on the list.
Companies named to the Civic 50 are determined by an annual survey. Recipients are public and private companies with U.S. operations and revenues of $1 billion or more, according to the organization’s website, and are selected based on four dimensions of their U.S. community engagement program:
• Investment: How extensively and strategically does the company apply its resources to community engagement in the United States, including employee time and skills, cash, in-kind giving and leadership?
• Integration: How does the company integrate its U.S. community engagement programs into key business functions, including employee engagement, marketing/PR, diversity and inclusion, recruiting, stakeholder relations and skill-development?
• Institutionalization: How does the company support community engagement in the U.S. through organizational policies, systems and incentives?
• Impact: How does the company measure the social and business impact of its U.S. community engagement program?
“Our purpose is to help our clients and communities thrive,” said KeyCorp Chairwoman and CEO Beth Mooney in a press release. “KeyBank’s approach is defined by consistency and a commitment to responsible banking, responsible citizenship and responsible operations. This consistency and commitment underscores our work as we participate in the economic expansion, revitalization and resurgence of the communities we so proudly serve.”
In 2016, KeyBank announced a $16.5 billion National Community Benefits Plan, which is being implemented over the next five years. The plan is expected to stimulate job and economic growth across KeyBank’s markets by investing in mortgage and consumer loans, small business lending and community development lending and investment, according to the release. The plan also calls for $175 million in KeyBank Foundation philanthropic investments.
“KeyBank’s 18,000 employees come to work every day asking how they can have a positive impact for their clients and their communities. The Civic 50 honor recognizes our employee’s commitment to be neighbors that make a difference in the communities where they live and work,” said Margot Copeland, CEO and Chairwoman of KeyBank Foundation.
Recently, 200 KeyBank employees from across Eastern Pa. participated in the company’s Neighbors Make the Difference Day. They joined nearly 7,000 of their co-workers from across 15 states to provide 28,000 volunteer hours to 900 service projects. Among the region’s organizations that were served: Greener Partners in Collegeville, Habitat for Humanity’s ReStore in West Norriton, the Perkiomen Watershed Conservancy and Impact Thrift Stores.
KeyCorp, which has its headquarters in Cleveland, Ohio, reported assets of approximately $134.5 billion as of March 31, 2017. The company provides deposit, lending, cash management, insurance and investment services to individuals and businesses in 15 states through a network of more than 1,200 branches and more than 1,500 ATMs. KeyCorp acquired First Niagara Financial Group last fall and completed the conversion of all First Niagara Bank branches to KeyBank in October. For more information, visit www.key.com .
The Civic 50 survey was administered by True Impact, which specializes in helping organizations maximize and measure their social and business value. For more information about The Civic 50 visit www.Civic50.org.
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