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Charles Schwab Recognized by Points of Light for Driving Social Impact in Communities
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Charles Schwab recognized as one of the 50 most community-minded companies in the U.S. for the sixth consecutive year.
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Charles Schwab honored for its commitment to giving back to communities and advancing financial literacy.
Schwab provided $10.2 million in direct support to over 3,500 nonprofit organizations in 2021.
4,250 Schwabbies volunteered nearly 10,000 hours to benefit local communities in 2021.
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WESTLAKE, Texas--(BUSINESS WIRE)--
Today and for the sixth consecutive year, Points of Light, the world’s largest nonprofit dedicated to accelerating people-powered change, recognized Charles Schwab among the 50 most community-minded companies in the U.S.
For 10 years, The Civic 50 has provided a national standard for corporate citizenship and showcases how companies can use their time, skills, and resources to drive social impact in their communities and company. 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 – investment of resources, integration across business functions, institutionalization through policies and systems and impact measurement.
“Our commitment to giving back to our communities is entrenched in Schwab’s culture of service, and we are honored to be recognized again by Points of Light,” said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation. “Schwab is committed to meaningful community investments and partnerships that advance financial literacy and make lasting, positive change in communities across the country. The generous spirit of our employees is more important than ever as we strive to bring hope and opportunity to communities across the country.”
Schwab has a long-standing culture of strengthening its local communities through financial literacy, volunteerism and community support. Through its signature financial literacy program Moneywise America, Schwab aims to level the economic playing field by making free, high-quality financial education accessible to everyone, helping to close the financial education gap that most schools struggle to address. 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, students, teachers, parents and families nationwide. Schwab is committed to providing financial, people and intellectual resources that support social causes that are responsive to community needs and reflective of employees’ interests.
In 2021 alone, Schwab and Charles Schwab Foundation provided $10.2 million in direct support to more than 3,500 nonprofit organizations, including nearly $2.5 million in matching funds to nonprofit organizations supported by Schwab employees. Also in 2021, 4,250 Schwabbies volunteered nearly 10,000 hours to benefit local communities.
“Corporate leadership and commitment to civic engagement is critical for strengthening communities,” said Natalye Paquin, president & CEO of Points of Light. “Our most recent global research shows 86 percent of people say they expect companies to take action on a social issue. Companies like Schwab are leading the way and setting an example of how you can leverage your employee talent, business models and assets to create deep impact that drives transformational change.”
The Civic 50 survey is administered by True Impact and consists of quantitative and multiple-choice questions that inform scoring process. The Civic 50 is the only survey and ranking system that exclusively measures corporate involvement in communities.
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 33.8 million active brokerage accounts, 2.3 million corporate retirement plan participants, 1.7 million banking accounts, and $7.30 trillion in client assets as of May 31, 2022. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC, https://www.sipc.org), and their affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.
TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.
Brokerage Products: Not FDIC Insured · No Bank Guarantee · May Lose Value
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. Points of Light envisions a world in which every individual discovers the power to make a difference, creating healthy communities in vibrant, participatory societies. Through 177 affiliates across 38 countries, and in partnership with thousands of nonprofits and corporations, Points of Light engages 5 million volunteers in 16 million hours of service each year. Points of Light brings the power of people to bear where it’s needed most. For more information, visit www.pointsoflight.org.
