KeyBank Recognized for Commitment to Community by Bloomberg LP and Points of Light as one of “The Civic 50”

KeyBank Recognized for Commitment to Community by Bloomberg LP and Points of Light as one of “The Civic 50”

Key ranked one of 50 most community-minded in U.S. and #1 in the Financials sector

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Monday, December 8, 2014 - 9:00am

CONTENT: Press Release

CLEVELAND, Ohio, December 8, 2014 /3BL Media/ – KeyCorp (NYSE: KEY) was recognized today as one of America’s 50 most community-minded companies by The Civic 50 and ranked #1 among all financial companies on the list. The Civic 50 is an annual initiative that identifies and recognizes companies for their commitment to improve the quality of life in the communities where they do business. Points of Light, the largest organization in the world dedicated to volunteer service conducted the survey in partnership with Bloomberg LP. All companies with $1 billion in revenue or more are invited to apply for The Civic 50, and the final list is presented alphabetically.

“It takes extra effort to develop products, solutions, and services that go beyond compliance requirements, as well as philanthropy that truly transforms communities,” said KeyCorp Chairman and CEO Beth Mooney. “As a responsible corporate citizen, we feel a strong obligation to do just that. We will continue balancing mission and margin to help our clients and communities thrive, and we encourage others to join us.”

Community involvement is multifaceted and part of business strategy at Key:

  • Employee volunteerism: Key strongly encourages employees to volunteer in their communities in several ways. On Neighbors Make the Difference Day, Key’s annual day of volunteerism, nearly 7,000 employees volunteer at hundreds of nonprofits; on Super Refund Saturday, Key’s annual free tax preparation day, Key volunteers processed  $2.9 million in refunds in 2014; and 600 financial education volunteers teach Key’s Learn and Earn curriculum throughout the year.
  • Philanthropic investments: KeyBank Foundation makes philanthropic investments in organizations and programs that promote economic self-sufficiency, with a focus on education, workforce development and diversity. In each of the past seven years, through philanthropy, corporate contributions, and volunteerism, Key has given on average approximately $18 million annually to nonprofit organizations in states where KeyBank has a presence. Of note, The Foundation Center reports the financial sector is top in philanthropic investments among all U.S. corporate sectors.
  • Nonprofit board participation: Key encourages employees to volunteer on nonprofit boards and takes an active role in matching employees with interested nonprofits. In support of employees’ board service, Key provides an annual $500 Community Leadership Grant to up to four organizations per employee, or a total of $2,000 per employee.
  • Business goals to stabilize and revitalize communities: Key sets aside 8% of Tier 1 Capital for Community Development Lending and currently has $2.9 billion extended in the form of debt and equity to developments that stabilize and revitalize communities. It is the only bank in the country to have received eight consecutive “Outstanding” ratings on the Community Reinvestment Act from the Office of the Comptroller of the Currency (OCC).
  • Employee donations: When KeyBank employees donate to nonprofits, Key matches their gifts. In 2013, Key employees and KeyBank, combined, contributed $3.5 million through employee pledging, matching corporate contributions, and United Way fundraising.
  • Corporate Responsibility a focus: In 2012, Key combined its Philanthropy, Diversity and Inclusion, Sustainability, and Community Reinvestment Act segments into one department, to bring even greater focus to its responsible banking, citizenship, and operations efforts. In 2014, Key developed a corporate-wide Corporate Responsibility Council, comprised of senior leaders across the enterprise, to provide strategic guidance and oversight on bank activities that affect Key’s business operations and local communities.

“We aim for community partnership and a true understanding of community need when conducting grant-making activities,” said Margot Copeland, CEO of KeyBank Foundation and KeyBank Director of Civic Engagement. “Together, we design programs that transform lives, and then back those programs with philanthropic investment. Taking an active role and designing targeted solutions is what makes KeyBank Foundation’s approach effective.”

To view a complete list of The Civic 50 companies for 2014 and to learn more about the importance of civic engagement in corporate America, please visit To learn more about Key’s responsible approach to banking, citizenship, and operations, please see KeyCorp’s 2013 Corporate Responsibility Report:


About The Civic 50
The Civic 50 was created in 2012 to measure corporate civic engagement and recognize companies that incorporate socially responsible practices and community leadership into their culture.  A working group of leading researchers, industry thought leaders and corporate advisors provided strategic guidance on the program’s objectives, including defining indicators, developing methodology, and identifying partners and participants. The Civic 50 survey was developed in 2014 under the guidance of an academic panel of nine experts from leading universities throughout the country. The survey evaluates companies based on several criteria including how extensively and strategically resources are applied to community engagement, how a community engagement program supports business interests and integrates into business functions. Other criteria include how a company supports community engagement through its institutional policies, systems, and incentives, and how a company measures the social and business impact of its community engagement program. True Impact, a company specializing in helping organizations maximize and measure their social and business value, administered the survey.

About Key
KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key has assets of approximately $93 billion. Key provides deposit, lending, cash management and investment services to individuals, small and medium-sized businesses under the name of KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information: KeyBank is Member FDIC.