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KeyCorp Reports On Philanthropic Investment

KeyCorp Reports On Philanthropic Investment

Published 03-11-04

Submitted by KeyBank

CLEVELAND - KeyCorp (NYSE: KEY) today released its 2002/2003 Report on Philanthropic Investment, documenting the company's focused support of organizations and activities that spur economic self-sufficiency. View the report through the link "Philanthropic Investment Report" on the KeyCorp Civic Affairs page at http://www.key.com/templates/t-ak2.jhtml?nodeID=A-12, or download the report directly at http://www.key.com/mediaf/01philanthropicinvestmentreport.pdf.

Philanthropic investment emphasizing financial education and workforce development is now institutionalized at Key in alignment with the company's business strategy under the direction of Margot J. Copeland, executive vice president, chair of the Key Foundation.

Arts, cultural, educational, and health and human services groups, among other organizations that bring people of different backgrounds and ethnicities together, are critical to economic growth in 24 KeyBank districts from Maine to Alaska. Support from Key often comes through extraordinary and sometimes unconventional thinking that challenges these organizations to develop new or orient existing activities and programs, when possible, around workforce selection and/or financial education initiatives.

But Key has taken its philanthropic investment a step further. The company's goal of promoting unity and a deeper understanding of the cultural diversity in communities factors in as well, says Copeland, who also serves as director of Corporate Diversity at Key. A statement on diversity is articulated within the company's giving guidelines.

"Diversity and inclusion are woven into the fabric of who we are at Key," says Copeland. "And we welcome the opportunity to work with organizations sharing that same commitment because, inevitably, organizations that nourish diversity will flourish and achieve superior results.

"Transforming and sustaining communities through philanthropic and social investment at Key, in this sense and at its highest level, is about elevating civic spirit. Whenever possible, we seek to foster inclusive environments in which individuals of diverse backgrounds are welcomed and encouraged to realize their full potential."

Over the two-year period, Key contributed approximately $35 million to organizations nationwide through totals of $12.1 million in corporate contributions, $21.1 million in Key Foundation grants and $1.5 million in employee matching gifts.

Late last year, BusinessWeek ranked Key 13th among the most generous cash giving companies in America, based on 2002 gifts as a percentage of revenues.

Key's total corporate contributions exceeded $14 million in 2003.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $84 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through KeyCenters and offices; a network of nearly 2,200 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com®, that provides account access and financial products 24 hours a day. Contact Key Foundation Senior Program Officer Quentin McCorvey at 216.689.5505, or quentin_mccorvey@keybank.com, for more information about corporate grants.

Note to Editors: For up-to-date company information, media contacts and facts and figures about Key lines of business, visit our Media Newsroom at Key.com/newsroom.

(CSRwire Note: The KeyCorp 2002/2003 Report on Philanthropic Investment may also be viewed, downloaded, or print copies ordered from the CSRwire Report Database)

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KeyBank

KeyBank

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. 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, visit https://www.key.com/. KeyBank is Member FDIC. 

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