DALLAS, June 10, 2020 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) was honored for its efforts in positively impacting local communities, as the bank was named to The Civic 50 by Points of Light, the world's largest organization dedicated to volunteer service.
The award recognizes Comerica as one of the 50 most community-minded companies in the United States. The Civic 50 provides a national standard for superior corporate citizenship and showcases how companies use their time, skills and resources to impact their communities.
"Comerica's success as a relationship bank starts with our commitment to the communities we serve," said Curt Farmer, chairman and chief executive officer of Comerica. "This recognition truly reflects the efforts of our Comerica colleagues who help emphasize that commitment. From financial education events to volunteer opportunities with nonprofit partners, Comerica colleagues strengthen our dedication to serving the needs of our local communities."
The Civic 50 honorees are public and private companies with U.S. operations and revenues of $1 billion or more and are selected based on four dimensions of their U.S. community engagement program including investment, integration, institutionalization and impact. This marks the fifth consecutive year Comerica has received the honor, and sixth time overall since its inception in 2012.
In 2019, Comerica employees combined to volunteer more than 71,300 hours to nonprofit organizations. Comerica also donated over $8.4 million to charitable organizations via more than 1,400 grants and sponsorships. Just this year, Comerica and the Comerica Charitable Foundation committed $8 million to local nonprofit organization for COVID-19 relief efforts and launched an online financial education platform – the Comerica Financial Education Center – for consumers.
The Civic 50 survey was administered by True Impact, a company specializing in helping organizations maximize and measure their social and business value. The survey instrument consists of quantitative and multiple-choice questions that inform The Civic 50 scoring process. The Civic 50 is the only survey and ranking system that exclusively measures corporate involvement in communities. To learn more about The Civic 50 and a complete list of the 2020 honorees, visit www.Civic50.org.
Comerica Incorporated (NYSE: CMA) is 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 $76.3 billion at March 31, 2020 and celebrated its 170th anniversary in August 2019.
About Points of Light
Points of Light is a 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 affiliates in 250 cities across 37 countries, and in partnership with thousands of nonprofits and corporations, Points of Light engages 5 million volunteers in 14 million hours of service each year. We bring the power of people to bear where it's needed most. For more information, visit: www.pointsoflight.org.