Synovus Directs $1.76 Million in Donations to Local Organizations and Causes

Rhea-AI Summary

Synovus Bank has announced a commitment of $1.76 million in philanthropic donations to support education, health, and wellness initiatives across its five-state footprint. This marks a 47% increase in corporate giving compared to 2021, benefiting 278 local organizations focused on affordable housing and financial literacy. The corporate donations program aligns with Synovus' strategy to enhance community support, especially vital amid the ongoing impact of the COVID-19 pandemic.

Positive

• Commitment of $1.76 million in philanthropic giving.
• 47% increase in corporate donations compared to 2021.
• Support for 278 local organizations addressing critical community needs.

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• None.

COLUMBUS, Ga.--(BUSINESS WIRE)-- Synovus Bank today announced the commitment of $1.76 million in philanthropic giving to support education, needs-based, and health and wellness causes throughout the company's five states of Alabama, Georgia, Florida, South Carolina, and Tennessee. The donations were awarded through the bank's corporate donations program and build on the millions of dollars Synovus allocates annually to partners addressing critical needs in the company's communities.

The 278 recipients of the corporate donation funds include organizations with local or regional impact across the Synovus footprint. Special consideration was given to groups that support the creation and sustainment of affordable housing, help low-to-moderate income communities, deliver financial education and literacy programs, and encourage economic development. The recipients align with Synovus' corporate giving strategy, and the donations reflect a 47% increase in awards compared to 2021.

"At Synovus, it is our responsibility to help individuals and communities realize their full potential," said Kevin Blair, Synovus president and CEO. "This is especially important as the COVID-19 pandemic continues to demonstrate the increasingly critical role of nonprofits and organizations. Through our corporate donations, we're strengthening our communities and encouraging meaningful change."

The Synovus corporate giving strategy outlines the company's formal process for aligning with various organizations, making corporate donations, and participating in volunteer opportunities. The strategy includes the Synovus Here Matters community outreach program, Raise the Banner financial education program, and corporate donations program. It also encompasses the recently established $4 million Here Matters Community Fund that will enable Synovus to expand its investments in communities and nonprofits with footprint-wide impact.

An overview of the company's 2022 corporate donation awards, including a list of recipients, can be found here. Synovus' 2023 corporate donation application will open Friday, July 1, 2022. More information is available at synovus.com/about-us/donations.

Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and retail banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, and international banking through 277 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005097/en/

Sara Bagdadi

sarabagdadi@synovus.com

 

Source: Synovus Financial Corp.

FAQ

What is Synovus Bank's recent philanthropic commitment amount?

Synovus Bank recently announced a philanthropic commitment of $1.76 million.

How much did Synovus Bank increase its donations compared to 2021?

Synovus Bank's donations increased by 47% compared to 2021.

How many organizations benefited from Synovus Bank's donations?

278 local organizations received funds from Synovus Bank's corporate donations.

What regions does Synovus Bank's philanthropic giving cover?

The philanthropic giving covers Alabama, Georgia, Florida, South Carolina, and Tennessee.

What types of causes does Synovus Bank support with its donations?

Synovus Bank supports education, health and wellness, affordable housing, and financial education initiatives.