Capital One Recognized as One of America’s Top 50 Community-Minded Companies by Bloomberg, National Conference on Citizenship and Points of Light
Capital One Ranked #2 on the List in Financials Industry, Large Market Cap
Dcember 6, 2013 /3BL Media/ - For the second year in a row, Capital One Financial Corporation was recognized as one of the top 50 community-minded companies in America on the Civic 50 survey – an annual initiative that identifies and recognizes companies for their commitment to invest their time, talent, and resources to improve the quality of life in the communities where they do business. The survey was conducted by the National Conference on Citizenship (NCoC) and Points of Light, the nation’s definitive experts on civic engagement, and published by Bloomberg News.
“Capital One is proud to be recognized as one of the top community-minded companies in America. Wherever we do business, we’re deeply committed to helping our communities succeed by partnering with local nonprofits to change lives and neighborhoods for the better,” said Carolyn Berkowitz, Vice President, Community Affairs, Capital One, and President, the Capital One Foundation. “Every day, our associates bring the same collaborative and innovative spirit that drives our business to our local partnerships and our work in the community. This honor is a testament to their dedication and to the efforts of the talented nonprofit leaders we work with every day.”
Through its Investing for Good approach to community involvement and investment, Capital One is committed to strengthening economic opportunities for individuals and communities where it does business. This holistic approach utilizes philanthropy, lending and investing, volunteerism and sponsorships to achieve impact. In 2013, Capital One provided $45 million in philanthropic support to nonprofit and community organizations, and Capital One associates served nearly a quarter million hours through company-sponsored volunteer activities.
“The results of this year’s Civic 50 survey show that even the most civically engaged companies are doing more to make community engagement a top priority and a permanent aspect of their business strategy,” said Michael Weiser, chairman of the Board, National Conference on Citizenship and Neil Bush, chairman of the Board, Points of Light, in a joint statement. “These 50 companies are showing others in the private sector how to boost the bottom line and make the world a better place.”
Businesses were evaluated and accrued points based on several criteria, including how much financial and human resources are applied to civic improvement, whether internal and external resources are activated to maximize community impact, how a company’s community engagement activities support its business interests, how broadly community engagement is supported and institutionalized within a company’s policies, systems and incentives, and how a company measures the social and business value of its community engagement programs.
Capital One was recognized as a leader in several dimensions on this year’s Civic 50 ranking, including:
- #2 - Best in “Organizational Commitment”
- #4 - Best in “Business Integration”
- #3 - Best in “Measuring Impact”
- #2 - Best in Financials industry
- #2 - Best in Large Market Cap
"Bloomberg is honored to serve as a lead sponsor of the Civic 50 along with valued partners, Points of Light and the National Conference on Citizenship," said Elana Weinstein, Bloomberg's Global Head of Diversity, Inclusion and Community Engagement. "We are encouraged by the results of this year's survey and look forward to continuing a partnership which recognizes the tremendous value that corporate institutions bring to the communities in which we live and work."
The Civic 50 was developed in partnership with a high-profile working group of lead researchers and industry thought leaders. Dozens of corporate advisors provided strategic guidance on the program’s objectives, including defining indicators, developing methodology, and identifying partners and participants. As a result of this collaborative process, the initiative reflects leading insight and thinking about how corporations can and should engage with communities in a twenty-first century economy.
True Impact, a company specializing in helping organizations maximize and measure their social and business value, administered the survey. A cross-sector team of independent qualitative evaluators reviewed the responses.
To learn more about The Civic 50 survey as well as the importance of civic engagement in corporate America, please visit www.Civic50.org.
About the U.S. Chamber Foundation BCLC
BCLC is a program of the U.S. Chamber of Commerce Foundation. Its network represents more than 125 companies committed to positively impacting society. The organization’s research, ideas, and programming embody business’ unique ability to achieve positive outcomes for societal challenges.
About the Corporate Citizenship Awards
The Corporate Citizenship Awards, known as the “Citizens” Awards, honor strategic and sustained positive impact on people, communities, the environment, and society. The Citizens have been presented every year since 2000 and are one of the nation’s premier recognition programs for companies that actively work to improve societal challenges.
About Capital One
Capital One Financial Corporation, headquartered in McLean, Virginia, is a Fortune 500 company with more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. Its subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. We apply the same principles of innovation, collaboration and empowerment in our commitment to our communities across the country that we do in our business. We recognize that helping to build strong and healthy communities – good places to work, good places to do business and good places to raise families – benefits us all and we are proud to support this and other community initiatives. To learn more, visit www.capitalone.com/investingforgood.