Local News

April 26, 2013

Business briefs: April 28, 2013


“We’re honored to have earned an Outstanding rating from the OCC for the eighth consecutive time,” said Beth Mooney, KeyCorp chairman and chief executive officer. “We’re especially proud to have provided loans, investments and services throughout the exam period, which was the height of the financial crisis. Being a responsible bank during difficult times matters to the communities that we serve.”

The Community Reinvestment Act requires banks to meet the credit needs of low- and moderate-income communities. The exam rates institutions in three categories: lending, investment and services. Included in the assessment are bank practices such as mortgage lending, small-business lending, community-development lending, investments in community-development organizations and projects, bank services to communities, and employee community involvement.

For the overall rating and the three subcategories, banks are assigned one of four ratings: “Outstanding,” “Satisfactory,” “Need to Improve” or “Substantial Noncompliance.” Exams are completed every three to four years, and Key’s recent exam period covered July 1, 2008, to Sept. 30, 2011.

KeyBank’s focus on this issue is part of its overall commitment to corporate responsibility, which includes the bank’s philanthropy, sustainability, volunteerism and diversity efforts. These include Neighbors Make the Difference Day, KeyBank’s annual company-wide day of volunteerism in local neighborhoods. During the exam period, KeyBank employees volunteered 100,400 hours, or $2.8 million in salary equivalency, on nearly 3,000 projects nationwide.

It also includes Key’s commitment to supplier diversity. KeyBank spent 15 percent of its overall vendor budget with minority-, women-, and veteran-owned businesses each of the past three years, compared to the average of eight percent spent by publicly traded corporations.

Funds raised

PLATTSBURGH — Price Chopper Supermarkets has completed another successful Shamrock fundraising campaign for the Muscular Dystrophy Association (MDA), raising $292,937 in donations from its customers, teammates and trade partners.

“We remain deeply committed to working with MDA to raise awareness of the progress being made to cure neuromuscular diseases and to raise funds that fuel that progress,” said Mona Golub, vice president of public relations and consumer and marketing services. “The multi-faceted partnership that we’ve built with MDA over the last 30 years integrates into many parts of our business and into the lives of our teammates.”

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