Capital One’s Commitment to Communities Begins in Richmond, Spreads Nationally
Kahlil Newsome in a coding class. (photo provided by Capital One)
They say home is where the heart is, and that sentiment rings true for Capital One’s commitment to giving back. For more than 20 years, the company has been dedicated to strengthening communities by promoting economic opportunities for small businesses, individuals and families. And it all started in Richmond, Virginia, where Capital One was founded.
"We like to say that Capital One is Richmond's largest startup," jokes Amy Chapman, Senior Manager, Community Affairs at Capital One. Founded in 1988, the company has a rich history and connection to the city where it first opened its doors. "We are deeply committed to this community," Chapman says. "We are the largest private employer and one of the largest corporate philanthropic investors in this area."
With more than 11,000 employees in Richmond, the company is also one of the greatest contributors of volunteer resources; in 2016, Capital One invested $3.6 million dollars locally and logged more than 120,000 volunteer hours. In Richmond, "We had 60 percent of our associates in this market volunteering last year; that was over 6,000 people. The national average is 25 percent," Chapman says.
That level of commitment is a testament to Capital One’s philanthropic mission: building enduring community partnerships. "There's a pride about Capital One being founded here and what the company continues to contribute," Chapman says. "Capital One creates a culture of service that allows associates to volunteer in a wide variety of ways and that creates individual satisfaction, builds our corporate reputation and benefits the community."
The blueprint for enriching communities
Since 2006, Capital One has had a longstanding relationship with Partnership for the Future, a Richmond-based nonprofit organization that helps high-school students with limited resources transition from high school to college and employment. Through mentoring, development workshops, college coaching and seven-week paid summer internships, the program provides year-round support. Each summer, Capital One provides internships for 16-18 Partnership for the Future students. By the end of the program, 99 percent enroll in college.
Capital One supports organizations like Partnership for the Future through its Future Edge initiative, a collaboration with leading educational and community organizations across the country to address areas of critical need that impact the nation’s current and future ability to grow and prosper in the digital age.
"We have always been focused on helping people succeed," Chapman says. "It's not just grant funding—it's also board leadership and associate engagement." And while Richmond may be the birthplace of Capital One’s charitable efforts, but it’s not where it ends. The company’s spirit of giving extends throughout the country; in 2015, the company’s total philanthropic giving totaled $46.6 billion.
Capital One Richmond employee volunteers (photo provided by Capital One)
The future of giving
Supporting community partners in Richmond and around the country is integral to the company’s overall mission: ‘banking’ built around what people need and want to live their best lives, providing them the tools and to make the most of their money and handle their financial lives with competence and pride. To continue the company’s heritage of giving back, Capital One Cafés , community hubs specifically designed to facilitate experiences centered on discovery, conversations, hospitality, education and related events, will play a major role. "They make unique offers to our community like providing meeting space for nonprofit organizations and passionate Ambassadors that make giving back part of their core culture," Chapman says.
The Cafés are the next iteration of Capital One's presence in Richmond. "For a long time we've been the largest employer, but we haven't had many customer-facing opportunities— the Cafés provide a new way for associates and the community at large to interact with Capital One," Chapman says.
Capital One’s Future Edge initiative is also investing $150 million over five years to empower more Americans of all means to succeed in the digital economy. The financial well-being of the communities the company serves has always been a priority. "Through Future Edge, our company is committed to help empower more Americans to succeed in an ever-changing digitally-driven economy," Chapman says.
As Capital One’s mission grows and expands nationwide, the goal of community partnerships remains the same. "Our Cafés allow a large company like Capital One to have a hyper-local interaction with communities," Chapman says. "The Café team is committed to understanding the unique characteristics and needs of each location and serving that community in natural ways that include financial expertise, volunteerism or simply providing an attractive space to meet, get work done and have great coffee." Chapman adds, "Our corporate success is built on the strength of our communities."
For more information on Capital One’s community efforts, visit capitaloneinvestingforgood.com