KeyBank Launches New Year-Long Initiative: KeyBus Neighborhood Bank

May 10, 2022 at 05:00 AM EDT

KeyBus Part of Financial Inclusion Efforts as Detailed in 2021 ESG Report

SOURCE: KeyBank

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KeyBank has launched a new initiative to promote access to banking and financial wellness using a transformed city transit bus. The KeyBus kicked off its year-long tour in early May during a ribbon cutting event in Cleveland, home of the bank’s headquarters.

During the event, students from a local high school spoke with KeyBank executives and employees about the importance of banking and received assistance filling out federal student aid forms.

“This initiative is part of our commitment to you - the communities we serve,” said KeyCorp Chairman and CEO, Chris Gorman. “The goal here is simple – to provide greater access to banking and financial literacy. We’re working hard to bridge the gap of financial wellness that historically exists within underserved communities. This bus is an opportunity for us to assist community members with an array of banking needs and offer people access to technology to assist with job searching and educational needs. I can’t wait to see what we can accomplish when we work together – and for our communities.”

As highlighted in its 2021 Environmental, Social, and Governance Report, financial inclusion remains a priority for Key. In 2021, KeyBank partnered with the Financial Health Network to help identify more opportunities to support equitable financial health outcomes. Key also introduced a new, senior role focused on increasing banking access for LMI communities. The KeyBus is part of the ongoing effort to improve access to financial services.

The KeyBus will travel the country, stopping in many of KeyBank’s markets, to promote financial literacy through savings and checking account setups, financial wellness reviews and free classes for community members. The bus is a fully self-contained computer lab and classroom on wheels. The computer modules not only give clients access to financial wellness tools, but they also provide people an opportunity to search for a job. Without access to these services, many people would have to leverage alternative financial solutions to make ends meet instead, which may not have their best financial interests in mind.

Attendees do not need to have a pre-existing KeyBank account to visit the bus and/or attend classes.