BIRMINGHAM, Ala., June 17, 2013 /PRNewswire/ -- BBVA Compass today released its 2012 Corporate Responsibility Annual Report, highlighting the bank's responsible business practices and its steadfast commitment to building a better future for people.
The year saw the launch of the bank's new core banking platform — debuting real-time processing in the U.S. and offering a new level of transparency and simplicity for customers — and the construction in Houston of BBVA Compass Plaza, an environmentally friendly building made with sustainable materials. Meantime, employees volunteered 68,739 hours of their time and educated both children and adults on smart finance and banking.
"Corporate responsibility continues to be at the core of our business practices, guiding every aspect of our work," said BBVA Compass President and CEO Manolo Sanchez. "And as we continue to build our brand here in the U.S., we are dedicated to our promise of building a better future for people."
The bank's report complies with reporting standards set by the Global Reporting Initiative, an internationally recognized standards organization for sustainability reporting. Deloitte & Touche LLP reviewed the bank's report and issued a letter of assurance in May."At BBVA Compass, we believe that we have a responsibility to be transparent with our stakeholders about our responsible practices," said Reymundo Ocanas, director of Corporate Responsibility and Reputation for BBVA Compass. "As a U.S. financial institution, we take sustainability reporting seriously and work hard to achieve a letter of assurance from an independent accounting firm." In 2012, BBVA Compass focused on corporate responsibility initiatives in the areas of responsible business, financial education, community involvement and environmental stewardship. Highlights include: Responsible business
- BBVA Compass requires that all applicants of its First Time Home Buyer Mortgage Product complete Money Smart's "Own Your Own Home" course, which helps them determine if they are ready to purchase a home and walks them through the mortgage process.
- In 2012, 828 homebuyers completed this online course and closed on their first homes — totaling $160.5 million in loan production for BBVA Compass (an increase of 49 percent over 2011).
- BBVA Compass' three key financial education programs are designed to educate both children and adults on smart finance and banking. The bank helped more than 11,674 individuals through financial education.
- 5,487 adults learned how to effectively manage their finances through Money Smart, the FDIC's financial education program for adults that the bank offers.
- 5,227 elementary school students learned how to count money, make a deposit, save and earn interest on deposits during the bank's "Teach Children to Save" events.
- 960 high school and college students learned how to use credit wisely during the bank's "Get Smart About Credit" events.
- The BBVA Compass Foundation donated more than $5 million through six focus areas, including community development; education; health and human services; arts and culture; environment and natural resources; and diversity and inclusion.
- Employees donated more than $1.4 million to qualified nonprofits through BBVA Compass Charity, the bank's charitable employee giving program.
- More than 1,757 employees collectively volunteered 68,739 hours of their time.
- BBVA Compass operates under the BBVA Group's Global Eco-efficiency Plan, with multiple goals set toward reducing the bank's impact on the environment.
- The bank completed its first full year under a national recycling program, resulting in 7,282 tons of recycling.
- Four retail branches received LEED certification; five are in the process.
- The bank began construction of BBVA Compass Plaza, a state-of-the-art office building in Houston that received LEED Gold certification.