DALLAS, June 28, 2016 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) today was recognized as one of the most
community-minded companies in the nation as part of The Civic 50,
an initiative of Points of Light, the world's largest organization
dedicated to volunteer service. The announcement was made today at
Points of Light's Conference on Volunteering and Service, held in
Detroit.
"The Civic 50 sets the standard for corporate civic engagement
nationwide," said Patricia McCann,
National Civic Affairs manager, who accepted the award on behalf of
the bank.
The Civic 50 honors the 50 most community-minded companies in
the nation each year as determined by an annual survey. All
companies with revenue of $1 billion
and over are invited to participate in the survey.
The Civic 50 winners are selected based on four dimensions of
their U.S. community engagement program:
- Investment: How extensively and strategically the
company applies its resources to community engagement in the U.S.,
including employee time and skills, cash, in-kind giving and
leadership.
- Integration: How a company's U.S. community engagement
program supports business interests and integrates into business
functions, or how it "does well by doing good."
- Institutionalization: How the company supports community
engagement in the U.S. through its institutional policies, systems,
and incentives.
- Impact: How the company measures the social and business
impact of its U.S. community engagement program.
"The program is really a roadmap for companies such as ours, in
which we seek to best use our time, talent and resources to improve
the quality of life in the communities where we do business," said
McCann.
"Involvement" is a core value of Comerica. In 2015, Comerica
employees donated their personal time and talents, nearly 74,000
hours, to make a positive difference in its communities. Comerica
also contributed nearly $9 million to
not-for-profit organizations in 2015, and the bank's employees
raised more than $2.1 million for the
United Way and Black United Fund.
"Since 2012, we have seen a notable shift in the results from
the survey in a direction that speaks to the commitment of American
companies to connect values of community service and civic
engagement to the culture and operating practices of their
business," said Jennifer Lawson,
Executive Director of the Corporate Institute at Points of
Light.
This year's Civic 50 applicants were evaluated and accrued
points based on several criteria, including:
- the quantity and impact of financial and human resources
applied to civic improvement;
- whether internal and external resources are activated to
maximize community impact;
- how a company's community engagement activities support its
business interests;
- how broadly community engagement is supported and
institutionalized within a company's policies, systems and
incentives; and
- how a company measures the social and business value of its
community engagement programs.
The Civic 50 survey was developed in partnership with a
high-profile working group of researchers and industry thought
leaders. Dozens of corporate advisors provided strategic
guidance on the program's objectives, including defining
indicators, developing methodology, and identifying partners and
participants. As a result of this collaborative process, the
initiative reflects leading insight and thinking about how
corporations can and should connect with communities in a
twenty-first century economy.
To learn more about the Civic 50, to see a full list of the
winners and to access the full report, The 2016 Civic 50: Turning
Good Intentions into Sound Business Practices, which presents the
highlights, trends, benchmarking data and best practices from the
2016 Civic 50, please visit www.Civic50.org.
Comerica Incorporated is a financial services company
headquartered in Dallas, Texas,
and strategically aligned by three business segments: The Business
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
$69.0 billion at March 31, 2016.
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