Strategy. Action. Results. Regions Bank Launches Making Life Better Institute

Rhea-AI Summary

Regions Bank has launched the Making Life Better Institute to enhance community engagement across its 15-state retail footprint. This program aims to foster inclusive prosperity by integrating employee volunteerism, financial education, and support for Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs).

Key initiatives include Regions Associates in Action, which encouraged associates to volunteer 74,000 hours in 2022, and the Regions Skills in Service program, matching employee expertise with community needs. These efforts aim to improve financial wellness and education for disadvantaged communities.

Positive

• Launch of the Making Life Better Institute to enhance community engagement.
• Regions associates volunteered 74,000 hours in 2022, indicating strong employee involvement.
• New initiatives focused on financial inclusion and wellness, beneficial for underserved populations.

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• None.

How this latest enhancement of Regions’ community engagement represents major steps forward in creating more inclusive prosperity.

BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Regions Bank on Monday announced the launch of its Making Life Better Institute^SM, a program that reflects the bank’s mission statement and brings together a wide range of community engagement efforts. These efforts extend throughout Regions’ 15-state retail banking footprint and beyond.

Six key components will be at the heart of community engagement initiatives championed by Regions Bank's new Making Life Better Institute. (Graphic: Business Wire)

“Beginning in 2018, Regions enhanced its community engagement strategy to focus on one key goal: creating more inclusive prosperity. Now, we’re taking another major step forward by combining enhanced volunteerism strategies with new initiatives to build financial inclusion, additional efforts to create financial wellness, and more,” said Leroy Abrahams, head of Community Affairs for Regions Bank. “Making life better is more than a mission statement at Regions; it’s how our associates approach their daily work and the initiatives we are launching to help more people and communities thrive. Through the Making Life Better Institute, we are not only refining our community engagement strategy, we are unlocking new tools to help Regions and its teams make an even greater impact.”

Six key components will be at the heart of initiatives championed by the Making Life Better Institute:

• Regions Associates in Action^SM: In 2022 alone, Regions associates volunteered 74,000 hours supporting a variety of important causes. Even so, more can be done. So, Regions Associates in Action is an enhanced employee volunteerism program that uses existing technology and an improved communication network to create more opportunities for hands-on work with nonprofits, Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs). The program leverages the bank’s popular What a Difference a Day Makes program, which gives associates one paid day off per year to volunteer at an organization of their choice. Volunteer days are in addition to consistent, ongoing volunteerism provided by a range of business groups across the bank.
• Regions Skills in Service^SM: Using a skills-based approach, the bank is matching the talents and experience of associates from across the organization with the specific needs of community partners. This targeted approach allows associates with subject-matter expertise in various areas to provide assistance where nonprofits, CDFIs and MDIs can best use it, including by offering financial advice and consultation. This enhanced program further enriches important work already being done by Regions associates in areas served by the bank.
• Board Service: With formal coaching and training, Regions leaders will have more opportunities to put their passions to work and provide financial management and strategic guidance while helping organizations reach their goals.
• Financial Education: The company continues to expand its robust Regions Next Step^® Financial Wellness program to assist community partners, including nonprofit organizations, K-12 schools and groups who serve people in transition. Many of the courses have a Spanish-language version. Separately, two courses designed for people with cognitive disabilities were recently added to the curriculum, as well.
• CDFI and MDI Support: To further the bank’s long-term commitment to supporting Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), Regions is engaging in executive-led informational sessions and idea-sharing opportunities with organizations in the bank’s footprint. This innovative approach for improved collaboration and technical assistance, along with the Regions Associates in Action^SM and Regions Skills In Service^SM programs, helps expand access to essential financial services and better support communities, especially underserved populations. These efforts enhance longstanding community lending programs within Regions Bank and the Regions Community Development Corporation.
• Recognition Programs: To celebrate Regions associates who are dedicated to giving back, the bank has created two new award programs. The Lee Ann Petty Heart of Service Award honors an associate, nominated by a colleague, who has made a significant impact to an organization or their community. A winner will be announced in April. The second award, Regions Community Champions, recognizes associates who have recorded 16 or more volunteer hours during the year.

The inaugural 2023 Regions Community Champions group includes almost 900 Regions associates throughout cities and towns served by the bank.

“I’m so proud of these associates, who have given at least two full days of their valuable time to support organizations they care deeply about,” said Wendi Boyen, community advocacy and financial wellness manager for Regions. “These dedicated colleagues are living Regions’ mission and values every day by working hand-in-hand with community partners to help achieve our shared goals of fostering inclusive prosperity and making life better in the communities we serve.”

For more information about Regions’ community engagement activities, see this link.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $155 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

About Regions Community Development Corporation

Regions Community Development Corporation (RCDC) is a wholly owned subsidiary of Regions Bank and serves as a catalyst to help revitalize communities and improve the lives of economically disadvantaged families in the Regions footprint. RCDC helps fulfill Regions’ mission to make life better by providing debt and/or equity financing for projects and entities with a community-development purpose.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005145/en/

Jeremy D. King

Regions Bank

205-264-4551

Regions News Online: regions.doingmoretoday.com

Regions News on Twitter: @RegionsNews

Source: Regions Financial Corporation

FAQ

What is the Making Life Better Institute launched by Regions Financial Corporation?

The Making Life Better Institute is a new program aimed at enhancing community engagement and promoting inclusive prosperity across Regions Bank's banking footprint.

How many volunteer hours did Regions Bank associates contribute in 2022?

Regions Bank associates volunteered a total of 74,000 hours in 2022.

What are the key components of the Making Life Better Institute?

The key components include Regions Associates in Action, Regions Skills in Service, financial education programs, support for CDFIs and MDIs, board service opportunities, and recognition programs.

When was the Making Life Better Institute announced?

The Making Life Better Institute was announced on February 13, 2023.

What is Regions Financial Corporation's stock symbol?

Regions Financial Corporation's stock symbol is RF.