Active engagement with our communities around the world, both as a partner and a leader, is a fundamental value at State Street. We are committed to increasing the economic well-being of our communities around the world, especially by helping to equip less-advantaged citizens with the resources they need to be well, thrive and succeed.

Community Affairs and the State Street Foundation, Inc., the company’s charitable grantmaking arm, manage programs that provide comprehensive support to the communities where State Street operates.  Together these programs are active in 35 sites and 21 countries in Africa, Asia, Australia, Europe and North America.  Outside of our Boston, Massachusetts headquarters, employees in each site volunteer to serve on community support program committees, which are responsible for identifying community needs and working with charitable partners in their locales.  

Every year State Street devotes a portion of its pre-tax profits to the State Street Foundation.  In turn, the foundation invests in its communities through a strategic grantmaking program, the annual United Way Campaign in North America and the Matching Gift program.  State Street’s Matching Gift program recognizes employees’ charitable donations through three components: GiveMore, a match of financial contributions; CollectMore, a match of fulfilled fundraising pledges; and DoMore, a match of volunteer time.

State Street also enables community organizations to draw on the resources and talents of our employees through our Global Outreach employee volunteer program. In Massachusetts, we offer the Spirit of State Street alumni volunteer program for retired and former employees.  Additionally, the company sponsors charitable fundraising events, makes contributions to small business and affordable housing investment funds and provides summer jobs to high school students in Boston.  Our procurement division also manages a highly successful Supplier Diversity Program.

State Street is classified as a wholesale bank under U.S. Community Reinvestment Act (CRA) regulations and is evaluated every two years on its record of meeting the needs of communities in which it operates, particularly in low- and moderate-income neighborhoods. State Street's CRA performance is rated "Outstanding" by both the Federal Reserve Bank and Commonwealth of Massachusetts Division of Banks examiners. The rating was most recently affirmed by the Federal examiners after the 2009 exam.

State Street can also have a positive impact on its community in several other ways, including by better managing its environmental footprint. In 2003, the company issued its first Environmental Policy Statement (EPS). That statement was strengthened in 2008 to reflect the establishment of our Office of Environmental Sustainability and the incremental roll out of our Environmental Management System to all of our global offices.

To learn more about State Street's commitment to CSR and to read our CSR Overview and full report, please click here.