Environmental, Social, and Governance (ESG) Commitments at Synovus
Facilities and paper reduction
144,000 square feet of LEED qualified space (2 Gold, 1 Silver and 1 eligible).
13 electric vehicle charging stations.
Approximately 745,000 square feet of space (>25% of footprint) fitted with LED lighting.
More than 200,000 consumer and commercial accounts receive electronic statements only.
More than $220 million in solar loans as of year-end 2019. Additionally, Synovus invested nearly $20 million in six solar energy properties through solar investment tax credit (ITC) transactions in 2019.
Focus on education, needs-based, and health and wellness service opportunities
39,000 hours volunteered and 5,600 Here Matters projects completed in 2019.
More than $1 million contributed by team members and the company to United Way chapters throughout our footprint.
$110,500 Jack Parker Scholarship dollars awarded through 132 university scholarships in 2020.
2020: More than $3.5 million donated to more than 500 non-profits and agencies.
Contributed $1 million to UNCF (United Negro College Fund) for scholarships for African American students to attend historically Black colleges and universities (HBCUs) and other institutions of higher education in our footprint.
Culture, People, Inclusion and Diversity
Recognized as one of AJC’s “Top Workplaces in Atlanta” in 2020 and one of the country’s “Most Reputable Banks” by American Banker and the Reputation Institute for four consecutive years.
One of American Banker’s “Best Banks to Work for” in 2018.
Benefits include health/wellness, retirement/401k match, tuition reimbursement.
Inclusion & Diversity: a CEO-sponsored initiative to increase minority representation in the company, female representation in leadership, and improve inclusiveness in six areas identified in a team member inclusion survey.
Active recruitment at historically Black colleges and universities (HBCUs) and Latinx organizations, and employee resource groups representing Black, Latinx, LGBTQ, veterans, and women.
Access, Affordability, and Financial Inclusion
$400 million Affordable Mortgage Program commitment with approximately $284 million funded through the third quarter of 2020.
Approximately $83 million invested in low-income housing properties through low-income housing tax credit transactions in 2020.
Affordable housing specialists throughout the footprint focused solely on financial education and mortgage loan origination.
Most recent Community Reinvestment Act rating, from November 2017, was “Satisfactory.”
Partner with Operation Hope to provide financial literacy and credit counseling need, and consumer products include no-fee retail checking options and a range of other products with flexible fee structures.
2018-19 school year: 3,500 hours of financial literacy and education provided to 1,150 students at 11 schools in Columbus; 17,700 hours of learning for 4,900 students at 12 schools since 2014.
“Raise the Banner” Financial Education program launched in 2020 targeting youth, enlisted soldiers and transitioning veterans, victims of domestic violence, people experiencing homelessness, senior adults and others.
Board of Directors
11 of 13 directors are independent.
6 current or former CEOs.
At least 10 directors who could be considered audit committee financial experts.
In-depth experience in banking and financial services, business strategy, insurance, investment management, commercial real estate, risk management, and accounting.
Expertise in legal, regulatory, risk management and accounting matters.
ISS Quality Score of 1.
38% of directors are female and/or ethnically diverse.
Average tenure of directors is 5.6 years.
Oversight of Strategy and Risk
Board of directors focuses on strategic planning and direction, with oversight of long-term strategy within approved risk appetite parameters.
Risk Committee oversees enterprise risk management and compliance framework and processes, including emerging risks.
Comprehensive Information Risk Policy governs security and use of all company and customer data.
Management of Legal and Regulatory Environment
No material losses resulting from legal proceedings associated with fraud, theft, regulatory penalties or violation of industry regulations.
The company’s whistleblower policy includes a third-party operated whistleblower report line.
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