Month: January 2024

CLEVELAND, January 23, 2024 /3BL/ – KeyBank (NYSE:KEY) announced placement of $50 million in deposits with six Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), including four Black-owned banks or managed banks and two banks serving Alaskan Native and Native American communities. As a founding member of the Economic Opportunity Coalition, KeyBank is pioneering the support of placing deposits with urban and rural community lending institutions to further enhance their ability to serve historically under-resourced communities. This effort is one of many that symbolizes KeyBank’s larger purpose: to help clients and communities thrive.

Today’s announcement includes our support in the following institutions:

Adelphi Bank – Columbus, OHCarver Federal Savings – Harlem, NYFirst Independence Bank – Detroit, MILegacy Bank – Murrieta, CAOneUnited Bank – Boston, MANative American Bank – Denver, CO

“Our country’s CDFIs and MDIs are vital to providing economic opportunity in underserved and low-income communities,” said Chris Gorman, Chairman and CEO of KeyBank. “Our support of the CDFIs and MDIs is part of our ongoing commitment to address social justice and racial equity in the communities we so proudly serve.” 

“KeyBank’s acknowledgment of Legacy Bank’s social mission within Native American communities is sincerely appreciated. Inclusion as a Native American bank among other CDFI and MDI institutions in their $50 million deposit commitment exemplifies KeyBank’s commitment to fostering a more inclusive financial landscape”, said James D. Hicken, President & CEO of Legacy Bank. “Together, we can amplify our impact, broaden financial access, and enhance the quality of life in urban and rural areas alike. We value KeyBank’s shared vision and collaborative spirit in making a lasting difference for low-income and underserved communities.”

“KeyBank is demonstrating what a more inclusive financial services industry looks like by fulfilling their overall $50 million commitment towards various Minority Depository Institutions in America,” said Kenneth Kelly, Chairman & CEO of First Independence Bank. “This support allows various MDIs to continue their concerted effort to expand their reach and expand relationships into partnerships within our industry. I am elated that KeyBank shares the same vision that all leaders can better impact communities we serve when we collaborate to broaden the financial quality of life for all.”

This support for Community Development Financial Institutions and Minority Depository Institutions are just the latest testament to KeyBank’s enduring commitment to economic inclusion. In 2022, KeyBank extended financing to 10 additional CDFIs, including loan funds, affordable housing lenders, and small business loan providers that included $67 million of debt financing and approximately $6.5 million of equity financing. Prior to 2022, KeyBank deployed $93 million to CDFIs, including Cleveland Development Partnership, Impact Capital, and Rocky Mountain Reinvestment Corporation.

About KeyCorp

KeyCorp’s roots trace back nearly 200 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 $188 billion at September 30, 2023. 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 1,000 branches and approximately 1,300 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.

FedEx is a proud supporter of several community events throughout the U.S. every January to celebrate the life, leadership, and legacy of Dr. Martin Luther King, Jr. (MLK).

From packaging meals to sponsoring free admission days at several civil and human rights focused museums, hundreds of team members unite to strengthen communities and embrace our company’s commitment to people of all cultures, experiences, and backgrounds. These are the communities FedEx team members not only serve, but live in. 

2024 Highlights

Rise Against Hunger
On January 15, 2024, over 500 volunteers packed more than 147,000 meals across seven cities in collaboration with Rise Against Hunger, a nonprofit growing a global movement to end hunger. And 2024 marked a milestone – year 10 of stepping up to fight hunger in cities including: Atlanta, GA; Houston, TX; Indianapolis, IN; Los Angeles, CA; Newark, NJ; Orlando, FL; Pittsburgh, PA; and Washington, D.C.

Free Museum Days
Since 2018, FedEx has removed the financial barrier for hundreds of thousands of visitors seeking to attend select civil rights museums on MLK Day or over the entire holiday weekend. Over MLK weekend through January 15 thousands of visitors in Jackson, MS; Birmingham, AL; and Atlanta, GA experienced critical moments from the civil rights movement firsthand during FedEx free admission days. 

FedEx provides vital support to additional museums chronicling key episodes of the American Civil Rights movement, which supports our diversity, equity, and inclusion commitment to advance inclusion. This support includes: the National Museum of African American History and Culture (Washington, D.C.), the MLK Memorial (Washington, D.C.), and the Equal Justice Initiative (Montgomery, AL).

Critical weather conditions in Memphis, TN impacted annual MLK Day volunteer activities at the National Civil Rights Museum in Memphis and Rise Against Hunger events.

Days of Service
With Memphis, TN being FedEx headquarters and the city where Dr. King’s life ended, FedEx collaborated with Leadership Memphis and Volunteer Memphis over the entire MLK weekend to host important volunteer work throughout the Mid-South. FedEx served as presenting sponsor of this 5-day service event that reached more than 1,800 families. 

Learn more about how FedEx is creating opportunities and delivering impact for people around the world at fedexcares.com.

Our culture evolves by galvanizing people through an inclusive workplace, simplifying operations and leveraging technology for growth. We thoughtfully invested in digital resources to make work faster and leaner, while placing our people at the center of our experiences. Strengthened by an unwavering commitment to inclusion, diversity, equity and allyship, we’re driving agility, efficiency and impact that aligns with financial goals.

FY23 HIGHLIGHTS 

Executed our ongoing listening strategy as part of a continuous improvement mindset to gauge teammates’ perceptions of Clorox as a place to work. In fiscal year 2023, our teammate engagement score was again 82%, in line with the 50th percentile for Fortune 500 benchmarks and above the 50th percentile for industry benchmarks.Continued to introduce and strengthen new ways of working that build upon our hybrid work experience. We also introduced new tools and technologies that allow teammates to collaborate more effectively, work smarter and make faster, more informed decisions.Achieved pay equity for nonproduction teammates for gender globally and race and ethnicity in the U.S.*Offered seven mentoring programs to develop our talent — enrolling 973 teammates — for general and more specialized audiences, including a group program designed for our women’s employee resource group members.Reported a 0.55 recordable incident rate, which is significantly lower than the average for goods-producing manufacturing companies. To ensure all production teammates are trained consistently and comprehensively, our Global Safety and Environmental team expanded its monthly education program into four languages within the continental U.S.

* There are no statistically significant differences (at a confidence level of 95%) in pay by gender globally and race/ethnicity in the U.S., accounting for relevant factors such as grade level, location and experience.

A STREAMLINED OPERATING MODEL 
This year we began implementation of a streamlined operating model to create a faster, leaner, consumer-obsessed company designed to enhance our ability to respond more quickly to changing consumer behaviors, innovate faster and increase future cash flow as a result of cost savings. This helps create a business unit-led culture that drives growth through our powerful brands, further embeds ESG into our operations, modernizes our capabilities, and empowers our people for better teammate experiences and ultimately superior business outcomes.

View the full 2023 Annual Report.