Charles Schwab Named One of the 50 Most Community-Minded Companies in the U.S. for Eighth Consecutive Year
Charles Schwab has been recognized as one of the top 50 community-minded companies in the U.S. for the eighth year in a row by Points of Light. The Civic 50 award highlights companies that excel in corporate citizenship through resource investment, volunteerism, integration across business functions, institutional policies, and impact measurement. In 2023, Charles Schwab Foundation contributed $13.9 million to nonprofits, including $2.6 million for employee matching gifts. Additionally, 11,400 employees volunteered 148,000 hours. Schwab’s commitment to financial literacy includes initiatives like Moneywise America, aiming to close the financial education gap. This recognition showcases Schwab's dedication to creating positive social impact and fostering strong communities.
- Charles Schwab recognized as a top 50 community-minded company for the eighth consecutive year.
- In 2023, the Charles Schwab Foundation granted $13.9 million to nonprofits.
- Employee matching gifts amounted to $2.6 million in 2023.
- 11,400 employees volunteered 148,000 hours in 2023.
- Commitment to financial literacy through Moneywise America.
- Extensive employee volunteer programs including Schwab Volunteer Week.
- No specific mention of direct financial benefits or gains from community engagement activities.
- Recognition does not directly correlate with increased stock performance.
For more than a decade, The Civic 50 has served as the national 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
“Schwab has a longstanding commitment to support and strengthen the communities where our clients and employees live and work by investing resources to advance financial literacy,” said Schwab President Rick Wurster. “We are honored to be recognized again by Points of Light for our work to empower Americans and foster strong communities through volunteerism and a focus on financial education.”
Schwab’s focus on financial education is rooted in the belief that everyone should have the opportunity to achieve financial well-being. Through its flagship financial literacy program Moneywise America, Schwab helps to level the economic playing field and close the financial education gap by making free, high-quality financial education accessible to everyone. In addition to financial literacy, Schwab employees volunteer thousands of hours annually through Schwab Volunteer Week, skills-based volunteerism programs, and other employee-driven volunteer initiatives that benefit nonprofits, schools, and communities nationwide. Schwab also provides financial, people and intellectual resources in support of social causes that are responsive to community needs and reflective of employees’ interests.
In 2023, Charles Schwab Foundation granted
“Expectations for companies to be leaders in civic engagement continue to increase,” said Jennifer Sirangelo, president and CEO, Points of Light. “Charles Schwab 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.”
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 inform the scoring process. The Civic 50 is the only survey and ranking system that exclusively measures corporate community engagement.
About Charles Schwab
At Charles Schwab (NYSE: SCHW) we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, LinkedIn, and Instagram.
About Charles Schwab Foundation
Charles Schwab Foundation is an independent nonprofit public benefit corporation, funded by The Charles Schwab Corporation and classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate on behalf of those in need so that everyone has the opportunity to achieve financial well-being. More information is available at www.schwabmoneywise.com/foundation.
About Points of Light
Points of Light is a nonpartisan, global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world. We envision 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. We bring the power of people to bear where it’s needed most. For more information, visit pointsoflight.org.
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Stephanie Corns
Stephanie.corns@schwab.com
415.539.7001
Source: The Charles Schwab Corporation
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