KeyBank Publishes 2023 Corporate Responsibility Report Highlighting Community Impact
KeyBank recently published its 2023 Corporate Responsibility Report. The comprehensive report tells their story as a responsible corporate citizen and provides transparency about their performance and activities related to the sustainability and societal impact of their business and investments during the 2023 calendar year.
The report covers Key’s commitment to advancing corporate responsibility strategies and making sustained progress toward its four corporate responsibility priorities – climate stewardship, financial inclusion, diversity, equity, and inclusion, and data privacy and security.
Highlights of their milestones include:
Thriving Clients
- Served more than 540 clients through Key’s three special purpose credits programs1 — funded $1.8 million in homebuyer grants and $8.8 million in Key Opportunities Home Equity Loans2
- Launched Immediate FundsSM,which allows eligible clients the option to receive instant access to their check deposit for a fee3
Refreshed fee structure — part of our broader effort to make banking more convenient and flexible for our clients
Thriving Colleagues
- Named 14x to the Top 50 Companies for Diversity by DiversityInc
- Employees volunteered more than 77,000 hours in the communities Key serves
- Focused on employee mobility — 22.8% of employees moved jobs or received a promotion
Thriving Communities
- Delivered $5.5 billion in capital in support of affordable housing, home lending, small business lending, and transformative philanthropy in low- and moderate-income communities
- Ranked second among U.S. Affordable Housing Lenders with $6.1 billion in multifamily affordable financing (source: 2023 Lenders Survey, Feb 2024)
- Placed $50 million of deposits across six Minority Depository Institutions and Community Development Institutions
- Made $39.8 million in philanthropic investments, including $5.6 million in charitable contributions made through Key employee programs
- Exceeded our enterprise goal of directing 8% of our qualified spend to diverse suppliers (Tier I and Tier II) – with total diverse spend at 13%
Thriving Planet
- Deployed nearly $5 billion in new capital to support a low-carbon economy
- Achieved our 2030 goal of a 40% reduction in absolute Scope 1 direct emissions and Scope 2 indirect emissions
- Reached 48% of our goal to achieve carbon-neutral operations across our Scope 1 and Scope 2 emissions by year-end 2030
- Joined the Partnership for Carbon Accounting Financials and completed an initial assessment of financed emissions
You can read through the 2023 Corporate Responsibility Report to learn more.
1Special Purpose Credit Programs (SPCPs) are, generally, programs that are established to meet special social needs or the needs of economically disadvantaged persons by extending credit to persons who would probably be denied credit or would receive it on less favorable terms, under certain conditions. See 15 U.S.C. § 1691(c)(1)-(3); 12 C.F.R. § 1002.8(a).
2Loan features reduced interest rate and no origination fees. Available on existing primary residence and loans up to $100,000. First or second lien only. Loan must close in a branch. Property must be located in an eligible community in KeyBank’s retail footprint. Additional terms or restrictions may apply. Ask us for details.
3Immediate Funds℠ is available in the KeyBank mobile app and will only appear as an option for eligible mobile check deposits. You will also have the option for a standard deposit at no charge. The Immediate Funds fee is 2% of the deposit amount, with a minimum fee of $2. Immediate Funds requests made after 11:00 p.m. ET will have immediate funds availability for ATM withdrawal and point-of-sale transactions. However, it will take until the next business day for the funds to be available to cover overdrafts or other transaction types. For more information, review our Funds Availability Policy.
All credit products are subject to collateral and/or credit approval, terms, conditions, availability and subject to change. KeyBank Member FDIC. HOME LOANS AND BUSINESS LOANS, ARE NOT FDIC INSURED OR GUARANTEED. ©2024 KeyCorp. Equal Housing Lender. NMLS# 3997977
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 $187 billion at March 31, 2024.
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 1,200 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 Member FDIC.
