SOURCE: Capital One
MCLEAN, Va., November 8, 2012 /3BL Media/ – Capital One Financial Corporation today was recognized as one of America’s top five most community-minded companies in The Civic 50 survey – the first comprehensive ranking of S&P 500 corporations that best use their time, talent and resources to improve the quality of life in the communities where they do business. The survey was conducted by the National Conference on Citizenship (NCoC) and Points of Light, the nation’s definitive experts on civic engagement, in partnership with Bloomberg LP.
An article about The Civic 50 looking at the philanthropic efforts of some of the top companies appeared in the November 12-18, 2012 issue of Bloomberg Businessweek. The full Civic 50 ranking is posted on www.businessweek.com at www.businessweek.com/interactive_reports/civic_50_2012.html.
“We believe that strong companies and strong communities go hand in hand. Wherever we do business, our associates are committed to helping expand economic opportunity and enhance community well-being,” said Richard D. Fairbank, Founder, Chairman and Chief Executive Officer of Capital One Financial Corporation. “Our efforts have always been about much more than simply writing a check. Our approach to community engagement, which we call Investing for Good, allows us to use the full range of our financial and human resources to concentrate on community needs that we’re best equipped to address. The Civic 50 award is a true testament to our associates who – together with our community partners – bring to life the very meaning and spirit of Investing for Good.”
“NCoC is proud to be part of The Civic 50 launch," said Ilir Zherka, Executive Director of NCoC. "The Civic 50 demonstrates that the best companies in America are deeply committed to strengthening their respective communities. Leaders of these companies are aligning the expertise of their companies and people with the needs of their communities, and then measuring the impact of their programs. NCoC hopes The Civic 50 will spur companies throughout our country to do the same.”
"As a company committed to community engagement and improvement, Bloomberg is proud to have partnered with the National Conference on Citizenship and Points of Light on this important ranking," said Norman Pearlstine, Chairman, Bloomberg Businessweek and Chief Content Officer, Bloomberg LP. "The Civic 50 is a pioneering addition to the Bloomberg Rankings inventory. It features a comprehensive, transparent methodology to identify companies that have taken a leadership role in developing and implementing civic engagement programs. We believe it will raise awareness of the importance of a civic consciousness through the U.S. corporate world."
Capital One was evaluated on seven metrics: leadership, measurement and strategy, design, employee civic health, community partnerships, cause alignment and transparency. Through the company’s Investing for Good efforts, Capital One is committed to strengthening the economic prosperity of individuals, families and businesses in the communities where it operates. This holistic approach utilizes philanthropy, lending and investing, volunteerism and sponsorships to achieve impact. In 2011, Capital One supported more than 1,800 nonprofit organizations, and its associates served more than 192,000 hours through company-sponsored volunteer activities. To learn more about Capital One’s Investing for Good efforts, please visit http://www.capitalone.com/investingforgood.
Civic 50 companies employed increasingly sophisticated tools to measure the impact of community engagement and alignment of these programs with their business’ core competencies, the survey found. More than two-thirds of the top 50 companies say they “frequently” or “always” use the professional skills of their workforce to address social issues and real community challenges. Sixty-six percent of the top 50 say they have “mission-level” alignment with their community partners, meaning they work with them on the highest strategic level, not just on individual programs or events.
“Today, in the aftermath of Hurricane Sandy, we can see clearly how much corporate America pitches in – with expertise, talent, time and money – to help communities meet critical needs,” said Jackie Norris, executive director of the Points of Light Corporate Institute. “In times of disaster and in relative calm, The Civic 50’s work is transformative, innovative and critically important.”
About Capital One
Capital One Financial Corporation, headquartered in McLean, Virginia, is a Fortune 500 company with approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. Its subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. We apply the same principles of innovation, collaboration and empowerment in our commitment to our communities across the country that we do in our business. We recognize that helping to build strong and healthy communities – good places to work, good places to do business and good places to raise families – benefits us all and we are proud to support this and other community initiatives.
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KEYWORDS: capital one, community, The Civic 50, Bloomberg Businessweek, csr, National Conference on Citizenship, philanthropy