Tag: 3BL

Originally published on The Financial Health Network

By Andrew Warren, Wanjira Chege, Meghan Greene, Lisa Berdie

Download the Full Report here

Overview

A Nearly Universal Experience, With Profound Financial Implications

Disability is part of the human condition. Almost everyone will experience a disability at some point in their lives, and more than 40 million Americans are living with a disability today.1 But despite their ubiquity, people with disabilities are frequently marginalized, resulting in profound impacts to their physical, social, mental, and economic well-being.2

In a new report published in partnership with the National Disability Institute and The Harkin Institute, we find that people with disabilities are far less likely to be Financially Healthy than those without disabilities. Our research uncovers multiple obstacles – including employment barriers, financial exclusion, and public safety net constraints – that may be undermining their financial health. This report explores the complex challenges faced by people with disabilities in their daily financial lives, while identifying several opportunities to foster equity and financial well-being across the disability community. 

Key Findings

Just 10% of working-age people with disabilities are Financially Healthy, compared with 30% of working-age people without disabilities. 
 40% of people with disabilities who weren‘t working reported that they would like to be working for pay. 
 93% of people with disabilities are unfamiliar with ABLE accounts, the primary tax-advantaged asset-building tool for people with disabilities. 
 55% of respondents to our survey of people with disabilities who used an alternative credit service said they did so because their “credit score was too low to get a loan at a bank.”

Defining Disability

In this report, we follow the current definition of disability set by federal surveys and classify a person as disabled if they indicate that they have serious difficulty with any one of the following: 

Hearing Seeing (even with glasses)Concentrating, remembering, or making decisions Walking or climbing stairs Dressing or bathingDoing errands alone

Throughout the report, we use both person-first and identity-first language, acknowledging that preferences differ and are evolving within the disability community. For a detailed explanation of how we define disability and the questions used in our surveys, please see the full report.

Key Finding 1 
The Disability Gap in Financial Health

People with disabilities are far less Financially Healthy than people without disabilities.

There is a large and concerning gap in the financial health of people with and without disabilities; working-age people with disabilities are only a third as likely to be Financially Healthy as working-age people without disabilities.

People with disabilities struggle with all aspects of financial health. 

Just half (51%) of working-age people with disabilities said they were able to pay all of their bills on time, while close to half (46%) said they have unmanageable levels of debt.Only one in five (22%) said they were confident they were on track to meet their long-term goals.

The diversity of the disability community leads to a diversity in financial health experiences. 

37% of respondents with only hearing difficulties were Financially Healthy, much higher than all other disability types.Only 14% of people with vision difficulties, 10% of those with mobility difficulties, and a miniscule 6% of those with cognitive difficulties or multiple difficulties were Financially Healthy.

Many individuals with disabilities face intersectional challenges related to other elements of their identity.

Working-age women with disabilities were only half as frequently Financially Healthy as working-age men with disabilities (7% vs. 14%).Black people with disabilities were far less frequently Financially Healthy (7%) than Asian (24%), Latinx (17%), and White (22%) people with disabilities (all ages).LGBTQIA+ people with disabilities were less frequently Financially Healthy compared with non-LGBTQIA+ people with disabilities (14% vs. 20%, all ages).

“[Do] I feel like my blindness has impacted my ability to make ends meet? Absolutely! I was unable to work, so I went… on disability at 39. So that’s a fixed income, and we know how prices have changed over the years.”

– Jonathan

See Jonathan’s Story >

Key Finding 2 
Low Incomes, Elevated Expenses

People with disabilities face several obstacles to making ends meet, from earning enough to get by to higher expenses associated with their conditions. 

Employment Barriers

People with disabilities cite a wide variety of barriers to employment.Negative attitudes in workplaces, insufficient workplace accommodations, transportation difficulties, a lack of education and training, and concern about losing benefits were all commonly cited by respondents (Figure 2).Even among those who said their disability was a barrier (62%), more than half also cited another reason, suggesting they do not attribute their difficulties to their condition alone.

Income Disparities

Nearly half (45%) of working-age people with disabilities had annual household incomes under $30,000, compared with just 21% of non-disabled people.Only 40% of working-age people with disabilities were employed, but many want to work or work more.40% of those who weren‘t working reported that they would like to be working for pay.23% of those who were working reported that they would like to be working more.

Public Benefits Barriers

Safety net programs designed to support people with disabilities don’t appear to fill the gap left by employment barriers.3, 4Only about a third of working-age people with disabilities were receiving Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), the two federal disability-related cash benefits.Even among people with disabilities who have low incomes and face barriers to work, many don’t receive benefits. Only 63% of those who had annual household incomes below $30,000, were not employed, and who reported that their condition was preventing them from working were receiving SSDI or SSI.Interviewees described difficult application and enrollment processes for public benefits.Means testing and asset limit requirements demand that recipients maintain limited savings cushions and assets – leaving recipients vulnerable to financial shocks and without long-term security.5, 6

The Cost of a Disability

In addition to income challenges, managing a disability can lead to a higher cost of living. Prior research has estimated that households with an adult with a work-limiting disability require 28% more income on average to reach an equivalent standard of living as those without a disability.7

“I have to switch out my [hearing aid] batteries like every 3 days, and those packets are $20 just for 8. I probably have spent thousands of dollars [in the past few years] just on hearing aid batteries. You just can’t win with all these extra costs, and even if you have the highest [health insurance], they don’t cover ear-related things.”

– Simone

See Simone’s Story >

Key Finding 3 
Financial Services Barriers for the Disability Community

People with disabilities also report several unique challenges in accessing and using financial services that help them save, borrow, and prepare for the future.

Banking Access

Prior research has demonstrated that people with disabilities are unbanked – lacking a checking or savings account – at higher rates than the non-disabled population.8, 9, 10We find that the gap in unbanked status between people with and without disabilities appears to be related to income differences: while people with disabilities are unbanked at far higher rates than those without disabilities, gaps close after controlling for income.However, people with disabilities are “underbanked” (banked, but also using alternative financial services) at higher rates than people without disabilities even after accounting for income differences.Credit health may be a key reason that disabled people are using alternative credit services like payday loans, pawn, title loans, and refund anticipation loans. More than half (55%) of disabled survey respondents who used an alternative credit service said they did so because their “credit score was too low to get a loan at a bank” (Figure 3).People with disabilities reported worse credit scores than those without disabilities at all income levels, suggesting they face distinct barriers to affordable credit.

Accessibility of Services

Very few people with disabilities report discrimination or lack of accessibility at financial institutions.However, levels of satisfaction with financial service providers vary from service to service. In our interviews, several participants noted opportunities for better customer service at financial institutions.

Limited Opportunities for Long-Term Savings

One promising solution to burdensome asset limits – the ABLE account – remains rarely used and poorly understood.SSI and Medicaid impose asset limits on their beneficiaries, but ABLE accounts allow eligible disabled individuals to save and invest assets without losing these benefits. In our survey of individuals with disabilities, less than 1% had an ABLE account, and all of them had less than $10,000 in their accounts.In addition to low account ownership, we find a near-universal lack of awareness or knowledge about ABLE accounts among the disability community: 93% of survey respondents said they were unfamiliar with ABLE accounts. 

“There are times when people just completely overlooked me as a consumer… And it’s not only about dignity, it’s equality. I really wanna be treated just like you. And if I see a slight difference, like you’re not paying attention or… not as engaged with me as a client, it really bothers me.”

– Melanie

See Melanie’s Story >

Conclusion 
Creating More Supportive, Inclusive Environments 

The challenges faced by people with disabilities are complex, and no single policy change or intervention will ameliorate them all. However, our research points to several opportunities for stakeholders to better meet the financial health needs of people with disabilities and create more supportive, inclusive environments. With disability inherent to the human condition, this is not just an altruistic notion – supporting the financial health of people with disabilities is in everyone’s interest. Read the full report to explore our recommendations, including increased willingness from employers to provide accommodations, greater promotion of ABLE accounts, and reforms to social safety net systems.

The Financial Health of People With Disabilities

Explore the trends. Discover new insights. Build stronger strategies.

Download the Full Report
 

Methodology

The findings in this report are drawn from data collected from two surveys and 10 individual in-depth interviews by the Financial Health Network in 2022 and 2023. Our Financial Health Pulse survey, fielded using the Understanding America Study (UAS) online panel, is representative of the population of the United States and asks a wide variety of financial health-related questions. These data allow us to compare financial health outcomes between people with and without disabilities. For the in-depth interviews, we partnered with NDI to recruit the 10 interviewees. For additional methodological details and notes on terminology and data limitations, please download the full report.

Acknowledgments

This report was developed with support from Principal Foundation and in partnership with the National Disability Institute and The Harkin Institute. 

Endnotes

Estimates of the number of people with disabilities (adults and children) in the U.S. vary. Census estimates put the number at around 41 million, and other surveys suggest it may be higher. See Appendix A in the full report for more information.“Disability Inclusion,” World Bank, April 2023.Rebecca Vallas, Kimberly Knackstedt, Hayley Brown, Julie Cai, Shawn Fremstad, & Andrew Stettner, “Disability Justice is Economic Justice,” The Century Foundation, April 2022.Michael Karpman, “Medicaid Work Requirements Would Do Little or Nothing to Increase Employment, but Would Harm People’s Health,” Urban Institute, May 2023.Benjamin Landy, “How Asset Tests Punish the Poor,” The Century Foundation, November 2013.Rebecca Vallas & Joe Valenti, “Asset Limits Are a Barrier to Economic Security and Mobility,” Center for American Progress, September 2014.Nanette Goodman, Michael Morris, Zachary Morris, & Stephen McGarity, “The Extra Costs Associated with Living With a Disability in the United States,” National Disability Institute, October 2020.“2021 FDIC National Survey of Unbanked and Underbanked Households,” FDIC, November 2022.Nanette Goodman & Michael Morris, “Banking Status and Financial Behaviors of Adults with Disabilities: Findings from the 2017 FDIC National Survey of Unbanked and Underbanked Households and Focus Group Research,” National Disability Institute, 2019.Stephen V. McGarity & Mary A. Caplan, “Living outside the Financial Mainstream: Alternative Financial Service Use among People with Disabilities,” Journal of Poverty, December 2018.

Giving back is in Paramount’s DNA. 

Paramount’s summer interns witnessed this value in action at our fifth annual Intern Community Day, jointly hosted by the Social Responsibility and Emerging Talent teams. This smaller version of our company-wide Community Day (Paramount’s annual day of service) creates opportunities for Paramount’s summer intern cohort to give back, fully immersing them in the company’s culture of employee volunteerism. After all, Paramount’s commitment to social impact would not be the same without the energy and passion of our interns! 

This year, we curated a combination of in-person and virtual projects to engage all interns, no matter their work format. Over 150 interns contributed to global causes spanning education, homelessness, mental health, and more. Intern Community Day 2023 partners included: 

Stars of Hope: In response to tragedies such as mass violence and natural disasters, Stars of Hope uses art-making in the form of a star to give hope, show compassion, and promote healing. Project Somos: Project Somos is an eco-sustainable community that aims to break the cycle of poverty in Tecpan, Guatemala by providing quality education and healthy food to families in need. Special Olympics Southern California: Special Olympics Southern California provides yearround sports training and athletic competition in a variety of Olympic-type sports for children and adults with intellectual disabilities. Project Helping: Project Helping’s mission is to improve mental wellness through accessible experiences that create purpose and connection. Habitat for Humanity Singapore: Habitat for Humanity Singapore is part of an international housing charity dedicated to eradicating poverty housing worldwide. Convinced that safe and affordable housing provides a path out of poverty, they work alongside low-income communities to increase their access to improved living conditions. 

Not only was Intern Community Day a wonderful opportunity to step away from daily projects, but it also allowed interns to collaborate across departments for a worthy cause. 

In New York and Los Angeles, interns came together to paint Stars of Hope that were sent to communities impacted by Vermont’s recent flooding. Interns got creative, painting scenes from SpongeBob’s Bikini Bottom and Teenage Mutant Ninja Turtles to brighten the days of children misplaced by the floods. Interns also included inspirational messages of support on each star and learned about emergency response and healing arts in the process. Stars of Hope’s Fran Sheff-Mauer joined interns in New York City and said: “We love to return to Paramount and meet their talented volunteers. Their hand painted stars have gone to communities including Parkland, Oxford, and San Bernardino.” 

Project Somos returned for Intern Community Day 2023, leading a virtual project supporting children’s education in Guatemala. In this session, Intern Cole Untiedt helped create literacy materials for the students in need. He shared that this event “was an eye-opening experience” and “truly showed Paramount’s commitment to the lives of their employees and those around them.” 

Fellow intern, Shoshana Medved, also praised Intern Community Day as a highlight of her summer at Paramount: “I couldn’t stop beaming!” After building dignity kits for individuals experiencing homelessness, Medved expressed, “we each have the chance to impact the world for the better, even if just for a couple of hours.” 

As Paramount looks ahead, the Social Responsibility and Emerging Talent teams will continue to ensure that social impact be a core tenant of the company’s internship program. Year after year, Intern Community Day is a crucial part of Paramount’s living commitment to giving back – from one generation of Paramount employees to the next.

Gen Blog | Corporate Responsibility

By Kim Allman Head of Corporate Responsibility and Government Affairs

The tactics of intimate partner violence and domestic abuse are rapidly changing as we spend more and more time online. Technology abuse — particularly the use of software like stalkerware to track domestic partners or monitor their online behavior — is an often overlooked part of domestic violence.

There is a critical need to ensure survivors and advocates understand tech-facilitated abuse and its impact, and how to identify it.

In 2022, Norton, one of Gen’s trusted Cyber Safety brands, expanded its long-term partnership with The National Network to End Domestic Violence (NNEDV) to address this need. NNEDV offers programs and initiatives that address the complex causes and far-reaching consequences of domestic violence. It also offers information and resources to victims of domestic violence — and empowers survivors as they build new lives.

We pledged a $100,000 grant for 2022, 2023 and 2024 to support NNEDV’s important initiatives and create new Cyber Safety resources. I’m proud to announce that together we have made great progress over the last year and I’m excited to share our first joint resource.

New Resource Helps Survivors Increase Their Privacy and Security 

One of the partnership’s biggest outputs was the creation of Securing Devices and Accounts, a new privacy- and security-focused resource for survivors. The guide builds upon Norton and NNEDV’s previous work to increase knowledge about device and account security and privacy.

It addresses survivors’ concerns about common devices and accounts, including considerations for whether the abusive person may or may not have physical or remote access. The guide was created to increase survivors’ knowledge about and comfort with technology, empower them to increase their security and privacy, and help them make decisions based on their individual needs and circumstances. Based on average views of toolkits on TechSafety.org, we estimate that at least 30,000 individuals will access the guide annually.

Additional Efforts to End Intimate Partner Violence 

As part of its partnership with Norton, NNEDV also deepened its collaborative work between the Safety Net team and the Economic Justice team. The two teams are working together to create accessible resources to help advocates, survivors and the public better understand technology safety as it directly relates to financial security and financial abuse. NNEDV’s Economic Justice team works to address financial abuse and support survivors. One example is its Safety Net Team’s Independence Project—NNEDV’s credit-building micro-loan program.

In the coming months, our partnership with NNEDV’s Safety Net and Economic Justice teams will result in another resource, this one focused on the intersection of financial abuse and technology-facilitated abuse, to help survivors and victim service providers understand and navigate the privacy and security of their financial accounts. Additionally, with Norton’s support, NNEDV’s team continues to participate in advisory conversations with technology companies to minimize opportunities for abuse online and increase options for survivors to increase their privacy, security and overall safety.

Norton, as well as Avira and Avast, two more of Gen’s trusted consumer brands, are proud to be members of the Coalition Against Stalkerware, which was formed to help keep malicious technology, like Stalkerware, out of the hands of abusers. 

We will continue to partner with NNEDV and the Coalition Against Stalkerware to help more victims and survivors, as well as advocates, get the resources they need to address domestic violence and feel safer. If you are interested in learning more, check out NNEDV’s upcoming 2023 Safety Net Technology Summit. Dr. Armin Wasicek, a security expert and senior researcher at Gen, will be speaking on a panel at the event. You can also review the Survivor Technology Safety Toolkit.

Gen™ is a global company dedicated to powering Digital Freedom with a family of trusted consumer brands including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner.

CHARLOTTE, N.C., Aug. 11, 2023 /3BL/ – Truist Financial Corporation (NYSE: TFC) and Truist Foundation announced $17 million in commitments to support affordable housing in Charlotte and career development and economic mobility programs across North Carolina.

The Truist commitment consists of three initiatives:

$15 million equity investment from Truist Community Capital in the Housing Impact Fund II to combat displacement, secure affordable housing and facilitate critical services for low-to-moderate income families across Mecklenburg County. It is the second such fund formed by Erskine Bowles, former head of the U.S. Small Business Administration and White House Chief of Staff under President Clinton, and Nelson Schwab, a founding partner of Carousel Capital.$1 million Truist Foundation grant to Per Scholas North Carolina to expand technology skills training in rural North Carolina.$1 million Truist Foundation grant to NPower to provide technology skills and employment opportunities for military-connected individuals and underserved young adults in the Raleigh community.

“Safe, affordable housing and career pathways are key to North Carolina’s vibrancy and economic growth. Truist’s purpose is to inspire and build better lives and communities, and our commitment today addresses these critical needs,” said Truist Chairman and CEO Bill Rogers. “We are honored to be the anchor investor in the Housing Impact Fund II, which has a proven and innovative approach to preserving affordable housing near jobs, transit and quality education in Charlotte. Our grant to NPower makes its free information technology training available for the first time in the state to help many North Carolinians attain quality jobs. The grant to Per Scholas also supports upward mobility with the expansion of its remote information technology training program in rural areas of North Carolina. These organizations are truly making a difference to strengthen our communities.”

Truist Community Capital continues to lead in affordable housing investment fund

Truist renews its role as the anchor investor in the Housing Impact Fund II (HIF II), which has raised $66.8 million with a goal to preserve 1,200 units of Naturally Occurring Affordable Housing (NOAH) in Mecklenburg County over the next two years. HIF II follows the success of HIF I, a $58 million fund formed in 2020 that has facilitated the acquisition and rehabilitation of 805 units in five Mecklenburg County communities. In total, HIF I and II will invest nearly $125 million in affordable housing and services in the community.

The housing created by HIF I is more than 97% occupied, serves more than 2,000 residents and has 20-year affordability covenants that ensure their continued availability to those earning less than 80% of the area median income. HIF II will focus its investments on apartment communities that are vulnerable to gentrification. Like HIF I, HIF II will spend more than 90% of its renovation dollars with minority-led businesses.

“Protecting NOAH properties is an important and lower-cost way for growing cities to provide affordable housing to residents,” said Mark Ethridge, principal at Ascent Housing, which oversees property acquisition, rehabilitation and operation for HIF I and II. “Without protection, NOAH apartments will not stay affordable, and we risk losing these units to redevelopment and pricing thousands of people out of the housing market. Truist and our fund investors are helping ensure safe, affordable housing options are available in these communities.”

HIF II received support from a diverse group of investors with deep ties to Charlotte, including Truist, PNC Bank, Atrium Health, Honeywell, the Leon Levine Foundation and numerous other companies, foundations and individuals. Ascent Housing, under Ethridge’s direction, will serve as operating partner for HIF II. Managing members of HIF II will be Schwab and Bowles, co-founders of Charlotte-based private equity firm Carousel Capital. Additional information about HIF I and II is available.

Truist Foundation grants build skills, help propel economic mobility across state 

In an era where technology and digital prowess have become essential for many job opportunities, Truist Foundation announced two grants with a singular focus: forging pathways to economic mobility through technology-oriented training initiatives.

NPower, a nationwide tech training program spanning seven states, is venturing into North Carolina, marking its debut in Raleigh—a vibrant city within the Research Triangle community. This ambitious expansion seeks to attract, educate and empower at least 150 new learners over the course of the grant, and aims to hone their skills to master the art of information technology (IT) with the expectation of acquiring expertise equivalent to professionals with one to two years of experience. One of the goals of this initiative is for the impact to extend beyond the boundaries of learning, enabling these graduates to confidently embrace the digital economy and its myriad possibilities.

“Real innovation begins when the problem statement is clear and there is a sincere commitment to address it. That’s why we’re thrilled to be partnering with Truist Foundation for our expansion into North Carolina,” said Bertina Ceccarelli, CEO of NPower. “Empowering underserved communities through innovation in tech and embracing diversity isn’t just a vision; it’s the driving force behind NPower’s mission, where every challenge becomes an opportunity to pave the way for a brighter, more inclusive tomorrow.”

Per Scholas, an organization that has been advancing equity and increasing opportunity across America for more than 25 years, aims to double the size of its technology skills training offering in the Tarheel state. Through dynamic partnerships, Per Scholas North Carolina will offer remote training programs to more than 250 learners in rural areas of the state in an effort to increase access and opportunity for high-growth careers in technology. With a robust roster of employer partners, from Fortune 500 companies to innovative startups, some previous graduates of the program were able to earn nearly twice their pretraining wages, which can result in sustainable economic mobility.

“Per Scholas is grateful for this tremendous investment into Per Scholas North Carolina from Charlotte-based Truist Foundation, helping to increase pathways to economic mobility for North Carolinians. We know the transformative impact a career in technology can have on individuals, and increasing access and opportunity is key. Per Scholas North Carolina has seen the impact of our rural training model already, injecting more than $1.9 million back into local communities. We’re very humbled by Truist Foundation’s grant, which will help us unlock potential for even more aspiring rural technologists, in turn building stronger communities, companies and economies,” said Caitlyn Brazill, chief development officer of Per Scholas.

About Housing Impact Fund II 

Housing Impact Fund II is a $66.8 million social impact equity fund raised to preserve naturally occurring affordable housing in Mecklenburg County. HIF II acquires, renovates and sets long-term affordability covenants on large-scale apartment communities vulnerable to gentrification. The fund will set aside 30% of its portfolio for households earning less than 30% of area median income (AMI), 50% of units to households earning less than 60% AMI and 20% of units to households earning less than 80% AMI. HIF II follows the success of the initial Housing Impact Fund which preserved over 800 apartments in opportunity-rich areas of Charlotte housing more than 2,000 residents. HIF II is managed by Erskine Bowles and Nelson Schwab and operated in partnership with Ascent Housing. More information is available at www.ascenthousing.com and www.ascenthousing.com/housing-impact-fund.

About NPower

NPower is a national nonprofit on a mission to move people from poverty to the middle class by training youth from underserved communities and military-connected individuals in a range of tech skills and placing them in quality jobs. Students who enter their free, six-month program, earn industry-recognized certifications and graduate with the competencies of an IT professional with one to two years of experience. NPower also places students in paid internships with corporate and nonprofit organizations. Eighty percent of NPower graduates get a full-time job or continue their education. Not only is NPower changing life trajectories for individuals from vulnerable communities, but they are also strengthening the overall competitiveness of U.S. businesses hamstrung by today’s limited pool of IT talent. To learn more about NPower, visit www.npower.org.

About Per Scholas

For more than 25 years, Per Scholas has been advancing equity and increasing opportunity across America. Per Scholas unlocks potential for individuals, communities, and employers through rigorous training for careers in tech. Partnering with dynamic employer partners, from Fortune 500 companies to innovative startups, we are building sustainable and diverse talent pipelines, together changing the face of tech. With national remote training and campuses in 20 cities and growing, Per Scholas offers tuition-free training in the most in-demand tech skills, including Cloud, Cybersecurity, Data Engineering, IT Support, Software Engineering, and more. To date, more than 20,000 individuals have gained the skills to launch high-growth tech careers, earning three times their pre-training wage. Diversity, equity, inclusion, and belonging is our DNA, with 85 percent of learners are people of color, two in five are women, and more than half have a high school diploma as their highest education credential. Learn more by visiting PerScholas.org and follow us on LinkedIn, Twitter, Facebook, Instagram, and YouTube. For local updates, follow Per Scholas North Carolina on LinkedIn and Facebook.

About Truist Foundation

Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at Truist.com/Foundation.

About Truist 
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $555 billion as of June 30, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.

# # #

Media Contacts: 
Brian Boudreaux, Truist, media@truist.com 
Mark Ethridge, Ascent Housing, 704-651-2742, mark@ascent.re 

Kristen Fraser, Truist Foundation, media@truist.com 
Yasmine Sabry, NPower, 201-888-5097, Yasmine.Sabry@npower.org 
Sara Luciano, Per Scholas, 332-895-0051, sLuciano@perscholas.org

BURLINGTON, Vt., August 11, 2023 /3BL/ – KeyBank Foundation, the non-profit charitable foundation of KeyBank, announces a three-year, $150,000 donation to The Committee on Temporary Shelter (COTS) to support a new supportive service role in their Housing program. COTS is a Burlington-based nonprofit that advocates for long-term solutions to end homelessness and provides emergency shelter, services, and long-term housing for Vermonters who are experiencing homelessness or are marginally housed. For more than 40 years, COTS has worked directly with people who are homeless or at risk of becoming homeless. Their services include two family shelters, two overnight emergency shelters for single adults, a daytime drop-in center, and four transitional and permanent housing facilities. They also operate the COTS Housing Resource Center, a homelessness prevention program dedicated to helping households in financial crisis avert homelessness or move more quickly into housing if they are homeless.

“KeyBank has long been a pivotal partner to COTS, and we are thrilled to be able to offer enhanced programming and engagement to our formerly homeless residents thanks to KeyBank’s investment in our work,” said COTS Executive Director Jonathan Farrell.

KeyBank’s funding will enable COTS to hire a Housing Community Enrichment Liaison (CEL) to enhance COTS’ housing retention efforts and support their existing affordable housing portfolio. The CEL will connect with COTS residents about quality of life and wellness opportunities that could be deployed in their housing and then implement those opportunities at each of COTS’ properties (The Wilson, Saint John’s Hall, Canal Street, 95 North Ave, and eventually Main Street Family Housing). Activities will represent a wide spectrum of wellness, including but not limited to music, art, photography, storytelling, memoir writing, meditation, therapeutic movement, recovery, gardening, and cooking classes. A unique goal of this work will be to create lasting connections with community wellness partners that can continue even after residents moved on from COTS housing. Funds will be used for personnel costs and program services cost for residents.

“KeyBank is a long-time supporter of COTS and we are aligned with their mission to house the homeless and find solutions to bring affordable housing to all,” said KeyBank’s Vermont Market President Joseph McGowan. “We’re proud to continue to help them expand needed services and resources that will benefit their clients and our community at large.”

Since 2017, KeyBank Foundation has provided nearly $1 million in transformational philanthropic investments in Vermont neighborhoods served by KeyBank, including more than $300,000 to COTS initiatives. KeyBank has 11 branches serving Barre, Brattleboro, Burlington, Essex Junction, Middlebury, Milton, Rutland, South Burlington, and St. Albans.

About COTS:

COTS is the largest service provider for the homeless and those at risk of becoming homeless in Vermont. COTS’ mission is to provide emergency shelter, services, and housing for those who are homeless or marginally housed. We believe in the value and dignity of every human life; we believe that housing is a fundamental human right; and we believe that emergency shelter is not the solution to homelessness. We operate 9 locations in Burlington and Winooski. For more information, visit www.cotsonline.org.

About KeyBank Foundation: 

KeyBank Foundation serves to fulfill KeyBank’s purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation’s mission is advanced through three funding priorities – neighbors, education, and workforce – and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.

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 $195 billion as of June 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.

Kristina Wyatt, Deputy General Counsel and Chief Sustainability Officer at Persefoni and former senior counsel at the SEC, joins ESG Talk host Steve Soter to talk about CSRD and its impact on companies outside of the European Union. They discuss the importance of assurance and harmonization in ESG reporting and proactive strategies companies should consider to be set up for success.

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This blog is part of our People Behind Purpose at Cisco series that focuses on employees driving Cisco’s purpose to Power an Inclusive Future for All. Each blog highlights a different Cisco employee whose work positively impacts people, communities, or the planet. The series was formerly known as people behind Corporate Social Responsibility (CSR) at Cisco.

July 30 is World Day Against Trafficking in Persons. Globally, an estimated 24.9 million people are subjected to human trafficking, which generates an estimated $150 billion annually in illicit profits, per the 2021 National Action Plan to Combat Human Trafficking White House report. According to UNICEF, more than 1.2 million children are trafficked across international borders each year. More than 17,000 people are trafficked into the United States each year. Many are children. These are very sobering statistics that only continue to grow each year.

The Foundation for a Slavery Free World (SFW) is one organization that has partnered with Cisco through Cisco’s Community Impact to end human trafficking by public outreach via education and events, supporting law enforcement’s efforts to rescue victims, and collaborating with the IT industry to develop new technologies. Cisconian Scarlet Estrada, CX enablement program manager, shares about her involvement with SFW and how all Cisconians can be an advocate for this important topic.

Tell us a little about yourself and what brought you to Cisco?

Scarlet: I was born in Venezuela and began my career with Chevron, working several different analyst positions in both Venezuela and California for a little over ten years.

I then moved to Canada to start a new life with my young family, starting with Boston Pizza as a community relations coordinator, which allowed me to start a new professional network and afforded me the flexibility to raise my young children at the time.

I also held positions as a quality engineering assistant, communications coordinator, and client services account coordinator for different companies.

Through the years, I kept in touch with many colleagues in the corporate world. A friend who was at Cisco reached out to me in 2018 to let me know about a renewals manager position within Cisco’s Customer Experience (CX) organization, stating that my background in account coordination, customer experience and marketing would be beneficial to the team. I interviewed, got the job, and began my Cisco career in November 2018.

What is your current role at Cisco, and how do you incorporate Purpose into your everyday work?

Scarlet: I am part of CX IB Methodology core program team responsible for consultants’ enablement as well as program development. We partner with renewals teams to make recommendations for services and software renewals, simplifying the renewals landscape and aligning on sales motions to help Cisco optimize customer solutions. My passion is to translate complexity into a simple customer’s lens. I have always sought out roles where my primary purpose is to serve and I am always looking for a better, simpler way to do things. People often come to me when they want someone to explain why things are playing out a certain way and to pick up on the hidden complexities of a situation. Every day I strive to make a difference and drive impactful results for our CX organization and Cisco. Working at Cisco offers great flexibility, interacting with people worldwide daily. For me, on top of this, I love to use my Time 2 Give hours (T2G) to help with the migrant community and their issues.

How did you first become involved in the Foundation for a Slavery Free World?

Scarlet: I first learned about the Foundation for a Slavery Free World through my daughter in late 2021. She is an actor and had a role on a movie with fellow actor Marisol Nichols, who is the founder and executive director of the foundation.

In between movie takes, I had the opportunity to learn about Marisol’s work as an undercover agent to take down traffickers and she shared about an operation where several women from Venezuela were rescued in the Caribbean. Learning about this, and how it affects people from my home country, motivated me to help find a way to get involved with Slavery Free World.

Marisol has been a part of numerous undercover stings leading to the successful arrest of dozens of traffickers and child predators, as well as liberating numerous women and children. And her passion, education, and advocacy for this important and global crisis moved me to help secure a grant through Bright Funds to support SFW’s work.

Why is volunteering with Slavery Free World important to you?

Scarlet: As a mom, you are concerned for your children’s wellbeing, especially in this digital age where it is very easy for online predators and bad actors to get to vulnerable children. They’re a lot more exposed to the world out there than any previous generations.

The National Center for Missing and Exploited Children’s (NCMEC) data shows a 35% increase year over year in online child sexual exploitation reports. Sadly, it happens in Canada as predators can reach children online anywhere in the world. I have had to protect my children personally from suspicious people and groomers trying to connect with them online.

Also, the connection to my birthplace Venezuela and the exposure risks and vulnerabilities of women and children as they try to migrate to other countries for better opportunities is especially close to me. Any opportunity I have to help make a positive difference to prevent trafficking from occurring is important to me.

What inroads has Slavery Free World made to combat trafficking?

Scarlet: Slavery Free World (SFW) has reached millions through the website, Marisol’s podcast, and on its social media platforms.

It has multiplied its podcast subscribers and reached 10’s of millions from its education campaigns. Marisol has also been invited to speak at the prestigious Yahoo Makers conference on her work in anti-trafficking, appeared on numerous talk shows, including Access Hollywood, KTLA, and Today Extra.

As well as speaking at numerous government events such as the AG’s Alliance, meeting with law enforcement, and continuing legal education events on human trafficking to discuss how to prevent it, SFW and Marisol are also passionate about educating parents and children on dangers of child traffickers online.

SFW is also meeting with social media platforms about the ways technology can be part of the solution to save women and children from this increasing crime, and in educating and spreading awareness about this most serious issue.

Marisol herself through her undercover work with her foundation has personally assisted in the rescue of numerous women and children and brought dozens of pedophiles and traffickers to justice.

The Marisol Nichols podcast is a true crime show where she talks about her undercover work to bring child predators and traffickers to justice in partnership with key organizations. The second season of her podcast, which will be released soon, includes an episode with Meta on the technology side of this issue.

What are some ways people can get involved in helping with Slavery Free World?

Scarlet: There are several ways anyone can get involved with helping Slavery Free World spread awareness and advocacy.

Check out the SFW website and educate yourself.Sign up for and share Marisol’s podcast with your social networks.Donate to https://cisco.benevity.org/en-ca/campaigns/609Invite Marisol to come speak at an upcoming organization event.Educate your children and community on the dangers and warning signs of trafficking through SFW’s numerous resources.If you notice something dangerous online or in your community that could be related to trafficking, contact your local law enforcement right away. In the United States, you can also reach out to National Center for Missing & Exploited Children – 24-Hour Hotline – 1-800-843-5678 and the National Human Trafficking Hotline – Call 1-888-373-7888 ( TTY: 711) | *Text 233733.

“This is a dark subject and good people don’t usually know about it. But for anything to be done to fix this, we need good people be aware of it. So that real change can occur, and children can be free.”​​​ ​​​​​​​​​

– Marisol Nichols

Please also check out this podcast episode on the rescuing of Venezuelan women and children.

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ROCHESTER, N.Y., August 11, 2023 /3BL/ – Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, has been recognized by TrustRadius with a 2023 Tech Cares Award for the company’s Corporate Social Responsibility (CSR) programs and community impact. This is the third time that TrustRadius has recognized Paychex in the annual awards program that serves as a trust indicator for buyers in the tech community looking to work with brands that demonstrate a strong commitment to enabling more sustainable and equitable communities.

“Paychex demonstrates a genuine dedication to fostering well-being, supporting communities, and creating a better world for us all,” said Megan Headley, VP of Research at TrustRadius. “The company’s strategic framework, powered by the Paychex Charitable Foundation, has made a significant impact on mental health, physical health, financial health, and professional skills development.”

Over the past year, Paychex has furthered the company’s commitment to doing good—for employees, clients, and communities. In 2023, the Paychex Charitable Foundation implemented a strategic giving framework to support workers of U.S. businesses with a focus on well-being, addressing mental health, physical health, financial health, and professional skills development. Four $1 million gifts were committed to Mental Health America, Feeding America, Junior Achievement USA, and National Urban League. In addition to the financial gifts from the Paychex Charitable Foundation, Paychex has engaged the company’s 16,000 employees as a volunteer network where they live and work, and will help advance the mission of each of the four not-for-profit organizations in key markets where Paychex has a high concentration of employees.

The Tech Cares Award serves as a trust indicator for buyers in the tech community. When a company receives this recognition, it demonstrates a commitment to corporate social responsibility. Buyers can feel more confident and assured when considering products or services from these award-winning organizations. The key areas of social corporate responsibility TrustRadius focused on were:

VolunteerismRobust diversity, equity, and inclusion (DEI) programsCharitable donations and fundraisingWorkplace culture, including model support for in-office and remote employeesDemonstrable support for environmental sustainability

“Paychex is focused on corporate initiatives that will drive impact for social good within the communities where our customers and employees live and work,” said Stephanie Schaeffer, chief legal and ethics officer at Paychex. “It’s an honor to be recognized by TrustRadius with a Tech Cares Award for our commitment to corporate social responsibility by bringing our corporate values of service, integrity, and accountability to life.”

In addition to its charitable work, Paychex has strengthened its commitment to diversity, equity, and inclusion (DEI). The company expanded its Employee Resource Business Groups (ERBGs) to align with Paychex culture and values, introduced new employee training courses, and continued to increase racially diverse hires.

The full list of 2023 Tech Care Award winners can be viewed here: trustradius.com/vendor-blog/tech-cares-award

About Paychex 

Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves approximately 740,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live. To learn more, visit paychex.com and stay connected on Twitter and LinkedIn.

About TrustRadius 

TrustRadius is the most trusted research and review platform for business leaders to find and select the right software for their needs. Decision-makers across industries rely on verified, peer-based guidance and research from TrustRadius. Vendors engage and convert high-intent buyers by telling their unique story through rich reviews. Over 12 million visitors a year create and engage with high-quality review content and data on trustradius.com. Headquartered in Austin, TX, TrustRadius was founded by successful entrepreneurs and is backed by Mayfield Fund, LiveOak Venture Partners, and Next Coast Ventures.

Media Contact:

Chelsea Wernick

Public Relations Program Manager II

Office: (585) 216-2974

cwernick@paychex.com

@Paychex

ROCHESTER, N.Y., August 11, 2023 /3BL/ – Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, has been recognized by TrustRadius with a 2023 Tech Cares Award for the company’s Corporate Social Responsibility (CSR) programs and community impact. This is the third time that TrustRadius has recognized Paychex in the annual awards program that serves as a trust indicator for buyers in the tech community looking to work with brands that demonstrate a strong commitment to enabling more sustainable and equitable communities.

“Paychex demonstrates a genuine dedication to fostering well-being, supporting communities, and creating a better world for us all,” said Megan Headley, VP of Research at TrustRadius. “The company’s strategic framework, powered by the Paychex Charitable Foundation, has made a significant impact on mental health, physical health, financial health, and professional skills development.”

Over the past year, Paychex has furthered the company’s commitment to doing good—for employees, clients, and communities. In 2023, the Paychex Charitable Foundation implemented a strategic giving framework to support workers of U.S. businesses with a focus on well-being, addressing mental health, physical health, financial health, and professional skills development. Four $1 million gifts were committed to Mental Health America, Feeding America, Junior Achievement USA, and National Urban League. In addition to the financial gifts from the Paychex Charitable Foundation, Paychex has engaged the company’s 16,000 employees as a volunteer network where they live and work, and will help advance the mission of each of the four not-for-profit organizations in key markets where Paychex has a high concentration of employees.

The Tech Cares Award serves as a trust indicator for buyers in the tech community. When a company receives this recognition, it demonstrates a commitment to corporate social responsibility. Buyers can feel more confident and assured when considering products or services from these award-winning organizations. The key areas of social corporate responsibility TrustRadius focused on were:

VolunteerismRobust diversity, equity, and inclusion (DEI) programsCharitable donations and fundraisingWorkplace culture, including model support for in-office and remote employeesDemonstrable support for environmental sustainability

“Paychex is focused on corporate initiatives that will drive impact for social good within the communities where our customers and employees live and work,” said Stephanie Schaeffer, chief legal and ethics officer at Paychex. “It’s an honor to be recognized by TrustRadius with a Tech Cares Award for our commitment to corporate social responsibility by bringing our corporate values of service, integrity, and accountability to life.”

In addition to its charitable work, Paychex has strengthened its commitment to diversity, equity, and inclusion (DEI). The company expanded its Employee Resource Business Groups (ERBGs) to align with Paychex culture and values, introduced new employee training courses, and continued to increase racially diverse hires.

The full list of 2023 Tech Care Award winners can be viewed here: trustradius.com/vendor-blog/tech-cares-award

About Paychex 

Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves approximately 740,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live. To learn more, visit paychex.com and stay connected on Twitter and LinkedIn.

About TrustRadius 

TrustRadius is the most trusted research and review platform for business leaders to find and select the right software for their needs. Decision-makers across industries rely on verified, peer-based guidance and research from TrustRadius. Vendors engage and convert high-intent buyers by telling their unique story through rich reviews. Over 12 million visitors a year create and engage with high-quality review content and data on trustradius.com. Headquartered in Austin, TX, TrustRadius was founded by successful entrepreneurs and is backed by Mayfield Fund, LiveOak Venture Partners, and Next Coast Ventures.

Media Contact:

Chelsea Wernick

Public Relations Program Manager II

Office: (585) 216-2974

cwernick@paychex.com

@Paychex

Listen to Varsha Monick, VP of customer experience and innovation, describe how innovation and Principled Entrepreneurship led to in-transit tracking to meet customers’ needs. She also shares how transformation can impact the individual through the development of learning new skill sets and seeking knowledge. 

Through our Principles in Perspective series, we aim to highlight employees leading change through our principles. Hear more from these individual who are leaning into a culture where everyone can succeed and fulfill their passions at work: https://news.gp.com/2023/02/principles-in-perspective

Georgia-Pacific

Based in Atlanta, Georgia-Pacific and its subsidiaries are among the world’s leading manufacturers and marketers of bath tissue, paper towels and napkins, tableware, paper-based packaging, cellulose, specialty fibers, nonwoven fabrics, building products and related chemicals. Our familiar consumer brands include Quilted Northern®, Angel Soft®, Brawny®, Dixie®, enMotion®, Sparkle® and Vanity Fair®. Georgia-Pacific has long been a leading supplier of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers. Its Georgia-Pacific Recycling subsidiary is among the world’s largest traders of paper, metal and plastics. The company operates more than 150 facilities and employs more than 30,000 people directly and creates approximately 89,000 jobs indirectly. For more information, visit: gp.com/about-us . For news, visit: gp.com/news

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