Comerica Bank Recognized as Best U.S. Companies for Diversity by National Diversity Council
DALLAS, May 10, 2022 /PRNewswire/ -- The National Diversity Council (NDC) recognized Comerica Bank's ongoing commitment to diversity, equity and inclusion, naming the bank to its Best U.S. Companies for Diversity listing. Comerica is one of four companies receiving the honor this year, which was announced in conjunction with the release of the 2022 NDC Index.
"Diversity positively impacts all areas of the bank, helping us to better serve our customers, colleagues and communities," said Nate Bennett, Chief Diversity Officer and Head of Talent Acquisition. "This recognition speaks to the collaboration of our leadership and dedication of our colleagues who continue to demonstrate an unwavering commitment to establish a culture that embraces and celebrates diversity, equity and inclusion."
The NDC Index is an annual measurement of organizational commitment to diversity and inclusion among companies across the country. The index evaluates performance on diversity and inclusion in five assessment areas: CEO engagement; benefits, policies and initiatives; supplier diversity; community engagement; and corporate social responsibility.
Comerica's recognition as a leader in the area of diversity, equity and inclusion was bolstered by its efforts during the past year that featured:
- Employee Resource Group (ERG) Program and DEI Education Council: Comerica launched two new ERGs in 2021 with the addition of Comerica Asian and Pacific Islander Network and The European Connection. The organization now features 10 active and uniquely curated groups that bring colleagues together with common interests. The ERGs provide an open platform to lift cultural awareness, career advancement, colleague connections, and community impact for its constituents.
- Office of Corporate Responsibility: Comerica established a new Office of Corporate Responsibility to bring the bank's environmental, social and governance (ESG) elements under the leadership of the office. The addition enhances collaboration across the bank and further enables the organization to solidify its role as a leader in ESG initiatives.
- ESG Platform: Comerica's ESG Council developed the bank's ESG Platform which serve to define the most significant ESG issues for the company. The five key ESG commitments include: providing access to capital focused on underserved communities, women, minorities and small businesses; promoting a diverse, inclusive and equitable workforce; investing in financial education for underserved communities; addressing climate change; enhancing ESG-related product and service solutions.
- COVID-19 Response: Comerica and the Comerica Charitable Foundation have helped communities, nonprofits and small businesses navigate the economic challenges created by the COVID-19 pandemic by investing $16 million in relief efforts. Investments totaling $12 million in 2021 were directed to Community Development Financial Institutions to meet the needs of small and micro businesses in low- to moderate-income communities adversely impacted by the pandemic. The additional $4 million was directed to a variety of nonprofit organizations, including several targeting women, young girls and seniors, as well as those focused on addressing food insecurities and access to health care. Combined with COVID-19 relief investments in 2020, Comerica and the Comerica Charitable Foundation contributed $27 million.
- Community Engagement: Comerica continued to make a difference in local communities through its financial education initiative. Comerica $ense programs reached approximately 50,000 individuals in low- to moderate-income communities in 2021 and colleagues hosted 380 small business bootcamps to help small business owners and entrepreneurs. Comerica colleagues also continued to demonstrate their commitment to serving the communities, totaling more than 64,000 hours of volunteer time.
- National Business Development Managers: To strengthen its relationship with diverse communities, Comerica appointed national business development managers responsible for African American, Asian American Pacific Islander, Hispanic and Middle Eastern communities.
For more information and to view this year's participating companies, visit www.ndcindex.org.
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $89.2 billion as of March 31, 2022.
About the National Diversity Council
The National Diversity Council is a non-profit organization committed to fostering a learning environment for organizations to grow in their knowledge of diversity. The council affords opportunities for organizations to share best practices and learn from top corporate leaders in the areas of diversity and inclusion. More information about the National Diversity Council is available at: www.nationaldiversitycouncil.org.
SOURCE Comerica Bank
For further information: MEDIA CONTACTS: Nicole Hogan, (214) 462-6657, Louis Mora , (214) 462-6669