The Points of Light, the world’s largest nonprofit dedicated to accelerating people-powered change, has named Comerica Bank to its 2024 list of The Civic 50. It marks the ninth consecutive year and 10th time overall that Comerica has received the honor in the program’s 12-year history of recognizing top community-minded companies in the United States according to its annual survey.
For more than a decade, The Civic 50 has served as the standard for corporate citizenship and showcases how leading companies are moving social impact and community to the core of their business. The Civic 50 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: 1) investment of resources and volunteerism; 2) integration across business functions; 3) institutionalization through policies; and 4) systems and impact measurement.
“For 175 years, Comerica has demonstrated an unwavering commitment to making a difference in the communities we serve,” said Wendy Bridges, Comerica Bank Executive Vice President, Corporate Responsibility. “This recognition highlights the shared commitment of our dedicated colleagues who help deliver impactful change.”
The following are highlights of the impact Comerica made on the communities it served in 2023:
Volunteer Hours: Comerica volunteers contributed more than 79,000 hours of service to local communities.
Small Business Lending Commitment: Exceeded 100% of its three-year (2021-2023), $5 billion small business lending commitment. The funds helped deliver change by providing meaningful funding to more than 15,000 small businesses.
Financial Education: Delivered valuable financial education to individuals, entrepreneurs and small business owners. The Comerica $ense financial education program instructed more than 105,000 individuals from low- to moderate-income communities about important financial skills. In addition, its Small Business Bootcamps educated more than 8,000 entrepreneurs and small business owners.
Comerica BusinessHQ: Opened its innovative Comerica BusinessHQ in Dallas. The state-of-the-art facility aims to empower underserved communities by providing access to capital and other meaningful resources including temporary workspaces, printing and scanning capabilities; access to high-speed Wi-Fi, and more.
The Civic 50 survey is administered by True Impact, and the results are analyzed by VeraWorks. The survey instrument consists of quantitative and multiple-choice questions that informs the scoring process. The Civic 50 is the only survey and ranking systems that exclusively measures corporate community engagement.
“Expectations for companies to be leaders in civic engagement continue to increase,” said Jennifer Sirangelo, president and CEO, Points of Light. “Comerica demonstrates how to maximize the full range of their assets – from people power to policy to financial contributions – to meet pressing needs and create thriving communities where they live and work. We’re thrilled to uplift and celebrate them as an honoree of The Civic 50 2024.”
Points of Light (pointsoflight.org) is a nonpartisan, global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world. The organization envisions a world in which every individual discovers the power to make a difference, creating healthy communities in vibrant, participatory societies. Through 145 affiliates across 39 countries, and in partnership with thousands of nonprofits and corporations, Points of Light engages 3.7 million people in 16.7 million hours of service each year.
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