Comerica Bank Recognized as One of the 50 Most Community-Minded Companies in the United States for Sixth Consecutive Year
DALLAS, June 16, 2021 /PRNewswire/ -- Comerica Bank and its ongoing commitment to improving the communities it serves received national recognition as it has been named a 2021 honoree of The Civic 50 by Points of Light, the world's largest organization dedicated to volunteer service.
The Civic 50 provides a national standard for corporate citizenship and showcases how companies can use their time, skills and resources to drive social impact in their communities and company. The honorees are companies with annual U.S. revenues of at least $1 billion and are selected based on four dimensions of their corporate citizenship and social impact programs – investment of resources, integration across business functions, institutionalization through policies and systems and impact measurement. This marks the sixth consecutive year Comerica has received the honor, and seventh time overall since the award's inception in 2012.
"To be recognized among exceptional companies by Points of Light for the social impact we have on our communities is truly humbling," said Irvin Ashford, Jr., Chief Community Officer. "Comerica's approach to banking, as well as to our employee culture, has revolved around fostering relationships and that starts with building meaningful relationships in our communities. In response to the challenges the COVID-19 pandemic created, we appreciate this recognition as it exemplifies our colleagues unwavering commitment to meet the critical needs of individuals, families, neighborhoods, small businesses and nonprofits in the communities we serve."
Comerica Bank and the Comerica Charitable Foundation provided $16 million in investments directed toward small business relief and nonprofits providing essential needs as a result of the pandemic in 2021. Coupled with COVID-19 relief from 2020, $27 million has gone back into supporting communities across Comerica's five-state footprint of Texas, Michigan, California, Arizona and Florida. Colleagues joined in efforts to volunteer during the pandemic – much of it which was accomplished virtually – totaling more than 30,000 hours. Providing financial assistance to help individuals and small businesses navigate through the challenges of the pandemic continues through its work with Comerica $ense programs and Small Business Bootcamps.
Since it was launched in 2012, The Civic 50 has provided a roadmap for good corporate citizenship and showcases how committed companies are moving social impact, civic engagement and community to the center of their business. The survey is administered by True Impact, a company specializing in helping organizations maximize and measure their social and business value, and consists of quantitative and multiple-choice questions that inform the scoring process. The Civic 50 is the only survey and ranking system that exclusively measures corporate involvement in communities. To learn more about The Civic 50 and honorees, visit www.Civic50.org.
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $86.3 billion as of March 31, 2021.
About Points of Light
Points of Light is a global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world. We envision a world in which every individual discovers the power to make a difference, creating healthy communities in vibrant, participatory societies. Through 177 affiliates across 38 countries, and in partnership with thousands of nonprofits and corporations, Points of Light engages 5 million volunteers in 16 million hours of service each year. We bring the power of people to bear where it's needed most. For more information, visit www.pointsoflight.org.
SOURCE Comerica Bank
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