Capital One 2011 Annual Report Download - page 10

8
We believe that strong communities and
strong companies go hand in hand
Wherever we do business, our associates are committed to
helping their communities expand economic opportunity and
enhance economic well-being. Capital One’s approach, which
we call Investing for Good, is both comprehensive and tightly
focused – comprehensive in that it allows us to use the full
range of our financial and human resources and tightly focused
in that it concentrates on the needs that we’re best equipped
to address: affordable housing, financial literacy, education,
small business development, and workforce training.
In 2011, Capital One’s associates volunteered 190,000 hours in their communities. They helped small
business owners hone their financial and managerial skills, assisted first-time homebuyers, and taught
basic financial skills, reaching more than 80,000 people. Our associates also contributed their time and
talents to 84 nonprofit organizations as part of our pro bono volunteer program.
A few of Investing for Good’s tangible results in 2011: In the Gentilly section of New Orleans, where
Capital One’s funding and collaboration with community groups created a highly successful program to train
teachers’ aides, our local bankers have taken the lead in establishing an equally innovative program to
train childcare workers. Trainees open savings accounts with Capital One, and we match their deposits up to
$1,000. The money they save helps with the purchase of equipment and uniforms needed for their new
jobs. Each graduate of the 10-week program also
receives a laptop from Capital One.
As the largest bank headquartered in the Washington,
D.C. area, we are strengthening economically
challenged neighborhoods in and around the nation’s
capital. We’ve made a substantial commitment to
affordable housing. Matthews Memorial Terrace, for
which Capital One provided $16 million in construction
loans, term loans, and investment capital, will add 99
rental apartments in Southeast Washington’s Barry Farm
neighborhood. The construction creates employment,
and the eco-friendly features of the complex will qualify
it for certification by the U.S. Green Building Council.
Over the past six years, Capital One/Junior Achievement
Finance Park has helped teach more than 100,000
students, supported by over 9,000 Capital One volunteers
in five states.
Capital One provided a $14 million financing package to help build
The Jordan in Arlington, Virginia, which offers 90 affordable housing
units for low- to middle-income households and is convenient to
public transportation and local employment centers.