How KeyBank Is Helping You
Our COVID-19 Response Plans
KeyBank is one of the nation’s largest—and oldest—bank-based financial services organizations, so naturally our friends, customers and neighbors looked to us to respond boldly to the financial implications of COVID-19. And it has been our mission to do just that, starting with $18 million in philanthropic COVID-19 relief funds.
Taking these actions is a priority: We want to help those who have always supported us – our communities, our clients and our team members.
Ready for Tomorrow
KeyBank has always existed to support our communities, clients and teammates when they need us most. We’ve developed several programs to assist these groups and individuals through the COVID-19 crisis.
While many of the programs are new, the reasons behind them are not. In keeping with our nearly 200-year legacy, it’s our privilege to provide support through financial relief measures, access to business services and connections to helpful resources. We call the effort “Ready for Tomorrow.”
Support for Our Communities
Our deep support for KeyBank’s neighbors and neighborhoods spans a number of initiatives in place across the country. This multiphased approach began in March with grants totaling $1 million from the KeyBank Foundation, distributed to 26 localities KeyBank serves in more than a dozen states. Led by United Way and community foundations, the initiative combined contributions from corporations like KeyBank, other local foundations and individuals to meet the immediate needs of the most vulnerable people and communities.
But this initial funding was just the beginning, and the KeyBank Foundation has since shifted more than $5 million in existing commitments into COVID-19-related efforts, as part of the anticipated $18 million in total response funds committed this year.
Among those that have benefited is Michigan Ability Partners, an Ann Arbor-based nonprofit agency providing housing and support for veterans and people with disabilities, mental illness, addiction and those experiencing homelessness. The organization was able to repurpose $100,000 of an existing grant to cover its COVID-19-related costs, which enabled the agency to continue placing constituents into permanent housing during the crisis.
Another support effort is KeyBank’s 2:1 COVID-19 Response Employee Matching Gift program, through which KeyBank is matching employee donations to COVID-19 initiatives. By the middle of May, the program had resulted in donations of close to $2 million to more than 1,200 area nonprofits.
And, in one of our most visible community efforts to date, KeyBank has partnered with local celebrities across the country to support small businesses, their customers and essential workers engaged in the fight against COVID-19.
For the first phase of the #KeyBankAssists program, we teamed up with sports figures from some of the communities where we live and work, asking them to select businesses and charities deserving of COVID-19 response funds. Thus far, program partners have contributed to 12 local charities, supported 60 local restaurants and surprised more than 2,600 of their customers with $50 gift cards. The program also awarded more than 50 essential businesses and first responder sites with restaurant gift cards of up to $1,000 to treat their employees. In all, the #KeyBankAssists program has distributed more than $270,000 in gifts to local communities.
One local business that benefited from the program was Zuppa’s Deli in Wexford, Pa. KeyBank, with the help of National Hockey League players Conor Sheary and Brian Dumoulin of the Pittsburgh Penguins, selected Zuppa’s to receive financial support. KeyBank purchased a $1,000 gift card from the business that was gifted to an essential services organization in the community, as well as restaurant gift cards for the deli’s takeout customers.
These COVID-19 response measures supplement KeyBank’s existing community investments, such as our five-year, $16.5 billion National Community Benefits Plan, which drives investment for low- to moderate-income (LMI) individuals, families and communities.
Support for Our Clients
KeyBank has also helped its personal and commercial clients endure the COVID-19 crisis through established and customized programs. As a top 10 national Small Business Administration lender, so far we have been able to secure $8.5 billion in loans for more than 40,000 small businesses through the federal government’s Paycheck Protection Program.
Support for Our Team Members
Just as important as supporting our communities and clients is supporting the KeyBank team members who make our efforts possible, so they can remain focused on their work, families, friends and communities.
This has meant more flexible work arrangements, reimbursement for some caregiver expenses and additional paid leave for full- and part-time employees who are ill or caring for a loved one who is ill. We’re also covering the cost of coronavirus testing and related doctor visits for members of Key’s Medical Plan, and employees have access to free resources for emotional health.
Employees’ responses to these efforts have been overwhelmingly positive, as many have gone above and beyond in their own commitments to help others—such as by making donations, delivering supplies, volunteering their time and even making masks.
Here for You
Our efforts for clients, communities and team members comprise KeyBank’s commitment to helping partners navigate these challenging times successfully.
But these are not our only plans: Groups and individuals facing more unique circumstances may qualify for 1:1 response measures, depending on the situation. If you have a specialized request for COVID-19 relief, please contact your local KeyBank branch and let us know how we can help.