ESG at Synovus
Environmental, Social, and Governance (ESG) Commitments at Synovus
- 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 186,000 consumer and commercial accounts receive electronic statements only.
- 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 133 university scholarships in 2019.
- 2019: More than $2 million donated to more than 500 non-profits and agencies.
Culture and People
- 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.
CRA, Community Development and Financial Inclusion
- “Satisfactory” CRA rating (Nov. 2017).
- $100 million Affordable Mortgage Program for first-time homebuyers and other borrowers who may require assistance to purchase a residence.
- No-fee retail checking accounts offered.
- 2018-19 school year: 3,500 hours of financial literacy and education provided to 1,1150 students at 11 schools in Columbus (update); 17,700 hours of learning for 4,900 students at 12 schools since 2014.
Board of Directors
- 10 of 11 directors are independent.
- 5 current or former CEOs.
- At least 9 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 4.
- 36 percent of directors are female and/or ethnically diverse.
- Average tenure of directors is 5.6 years.
- Recognized as one of the country's "Most Reputable Banks" by American Banker and the Reputation Institute for four consecutive 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.