Committing $50 Million to Support Critical Community Needs
Capital One is committed to helping address the rapidly changing needs of our communities impacted by COVID-19
At Capital One, the health, safety and well-being of our customers, associates, and communities are our top priority. That is why, today, we are announcing a $50 million commitment to help address the rapidly changing needs of our communities impacted by the coronavirus (COVID-19) pandemic.
Our trusted nonprofit partners are addressing crucial needs of the most vulnerable populations. Based on their early guidance, we are moving quickly to expedite funds to aid their support in serving individuals and communities most critically impacted by this crisis. These resources will strengthen programs we’ve long championed, while allowing our nonprofit partners remain flexible and responsive in their support for the community.
Relief grants to partners will help the most pressing needs around food and hunger relief, housing and shelter security, support to small business owners, and assistance for low-income individuals in the communities in which our customers and associates live.
As the situation and communities' needs evolve, our support will focus on digital capabilities and access, student support and education, and financial stability programs — while also exploring new ways to use our company’s assets to meet changing needs.
A corporate matching program for our associates who choose to donate personal funds to select nonprofits focused on COVID-19 relief.
In a time of increased social distancing and a growing dependence on digital access, we will also continue to offer digital capabilities and resources for the community to support financial well-being, computer and online access, and skills training.
We continue to offer Ready, Set, Bank — a free program to help people learn how to bank online, avoiding unnecessary trips to their local branch, whether they are Capital One customers or not. The Spanish language version, Listos, Clic, Avance, is also available.
Given the increased and timely need for digital access, we are accelerating a pilot program in three affordable housing developments we serve in The Bronx. This includes offering free internet access; partnering with Staples to distribute Chromebooks; and delivering digital education training for residents.
This summer we are rolling out a pilot program for internet hotspot lending with the American Library Association in 20 rural libraries.
Unique Capital One Assets
We are also exploring ways Capital One can address emerging needs in the community, through the expertise of our people and unique assets.
Capital One’s Machine Learning and AI experts are responding to the White House COVID-19 Open Research Dataset Challenge (COVID-19) for social impact in response to this public health crisis. Associates will provide pro bono efforts and work collaboratively with external experts to submit to the challenge.
We have continued our HR Employment Readiness Program, through HR HEART virtual experiences, helping community members seeking employment best prepare for interviews.
Providing virtual mentorship from our associates with partners including Codepath.org, Pursuit, Per Scholas, Genesys Works, and virtual career guidance with Year Up interns.
Associates across the company are participating in other virtual volunteerism and skills-based service opportunities.
As the global coronavirus pandemic evolves, we will remain steadfast on evaluating community support and adapt our commitments to address the most pressing needs.