Editor’s note: This is an excerpt from Community Conversations: A Field Guide for Banks, recently released by the ABA Foundation. The full guide includes an assessment worksheet, principles for community conversations, tips for hosting successful conversations and a facilitation guide and additional case studies.
As a relationship-focused bank, our community engagement goals align with our business goals of driving primacy throughout our 15-state footprint and being a responsible corporate citizen. We believe that by actively engaging with the community, understanding their needs and providing relevant solutions, we can drive positive change and contribute to the overall well-being of our communities.
We are deeply committed to engaging with our community in meaningful ways that drive financial empowerment. To increase banking access and homeownership for Black and diverse communities, we have established strong connections with faith and community leaders, and national organizations like the National Association of Real Estate Brokers, National Association of Hispanic Real Estate Professionals and Operation HOPE to engage with the community effectively.
Our strategy has included engaging with community members in various ways to understand their unique financial needs and challenges. This has involved organizing community conversations in church pulpits and basements, meeting with local council members in their wards, organizing Community Lending Days at our branches and providing financial empowerment workshops. KeyBank’s most senior leaders, including our Chairman and CEO Chris Gorman, have been integral to these efforts.
To increase banking accessibility, we have brought the bank directly to the neighborhood by introducing MoCaFi, a fintech company’s “On Our Block” program. This block party program includes personalized KeyBank Financial Wellness Reviews con-ducted by our branch managers, where they offer tailored financial guidance, address concerns and provide relevant solutions to people seeking to improve their economic well-being.
Engaging personally with community members and meeting them where they are at has helped us build trust, understanding and a sense of partnership. Our initiatives reflect our mission of promoting financial inclusion and demonstrate our commitment to making a positive impact within the communities we serve.
As a relationship-focused bank, our community engagement goals align with our business goals of driving primacy throughout our 15-state footprint and being a responsible corporate citizen. We believe that by actively engaging with the community, understanding their needs and providing relevant solutions, we can drive positive change and contribute to the overall wellbeing of our communities.
For nearly 200 years, we have proudly championed our clients’ needs, hopes and dreams. We strive every day for their personal and business success. Since 2017, we have proudly delivered more than $37 billion in affordable housing, home and small business lending in low- and moderate-income communities, and transformative philanthropy. In 2023, this included nearly $29 million in philanthropic support to advance economic, racial and environmental equity.
We introduced several products and services to empower our clients on their financial wellness journeys, including their path to homeownership and home improvement, in response to the needs shared with us by the community. In 2023 alone, the programs served more than 540 clients, and funded $1.8 million in homebuyer grants and $8.8 million in Key Opportunities Home EquityLoans. In 2023, we launched a partnership with Operation HOPE, a national nonprofit dedicated to financial empowerment for underserved communities. The HOPE Inside program delivers financial and homebuyer education content and coaching to empower community members with knowledge and tools to create a more secure financial future.
Also in 2023, as a founding member of the Economic Opportunity Coalition, Key placed $50 million in deposits with six community development financial institutions and minority depository institutions, including Native American institutions and Black-owned and Blackmanaged banks.
We are dedicated to fostering continuous community engagement through intentional and targeted efforts. KeyBank not only provides financial support but also actively participates in finding solutions to some of the most critical challenges facing our communities. Using feedback from community members and leaders, we developed a thoughtful engagement plan, ensuring that initiatives align with the specific needs of the neighborhoods we serve. Bringing them into the process to leverage their insights and expertise to shape our strategy not only ensures we are on the right path — but also shows them we are following through with our promise.
We weave our commitment to communities through teammate engagement. Every year, we coordinate a day when thousands of KeyBank teammates across the country contribute their time and talents to local nonprofit organizations to give back to their local communities through Key’s annual Neighbors Make the Difference Day. It is a chance for our teammates to step away and feel like they are making a difference, and for our communities to physically see the impact we make in their neighborhoods.
Through a combination of philanthropic giving, strategic partnerships and active involvement in addressing pressing community issues, KeyBank demonstrates a commitment to being a reliable and supportive presence in the lives of our clients and the communities we serve.
