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Financial Services Roundtable to Build with Habitat

Financial Services Roundtable to Build with Habitat

WASHINGTON, Aug. 1 – CEOs, senior executives and employees from 42 financial services companies, many of them direct competitors, will join together in an unprecedented industry partnership on August 10 to help build safe, decent and affordable housing as part of a national community service partnership between The Financial Services Roundtable and Habitat for Humanity International.

“On August 10, we kickoff a unique industry collaboration focused on promoting home ownership in America, improving the communities in which we serve and taking our longstanding partnership with Habitat for Humanity to the next level,” said Steve Bartlett, president of The Financial Services Roundtable.

In total, approximately 800 employees from some of the most recognized banking, investment and insurance companies will begin home construction in eight cities across the nation. Company CEOs, executives and rank-and-file employees will work side-by-side in the collaborative effort.

Millard Fuller, founder and president of Habitat for Humanity International, said we can each make the world a better place, one house and one family at a time. “So many people are struggling to find a way to help others, and this is a fantastic opportunity for America’s financial institutions to lend a hand to people who are in need of a simple, decent, affordable place to live,” said Fuller. “We want to end the shame and disgrace of poverty housing throughout the world, and we need everyone’s help to do that.”

President Bush earlier this year called on Americans to give more of their time in the service of others. During a White House event in June, the President urged business leaders to increase corporate involvement in community service. Responding to those calls, The Financial Services Roundtable brought together member companies to leverage their collective resources for the benefit of their communities.

“Our partnership with Habitat for Humanity demonstrates the good that comes when companies work together,” Bartlett said. “Our unified response to the President represents an entire industry – competitors in the marketplace but allies in community service – working together to help build stronger communities.”

The partnership with Habitat for Humanity is a snapshot of the extensive corporate philanthropic efforts of companies in the financial services industry. In 2000, member companies of The Financial Services Roundtable contributed more than $1 billion and more than 7.3 million volunteer hours to their communities through grants, community fundraising, volunteer work, direct lending and investment. Figures for 2001 will be released August 10.

The Financial Services Roundtable (http://www.fsround.org) represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. Member companies participate through the chief executive officer and other senior executives nominated by the CEO. Roundtable member companies provide fuel for America’s economic engine accounting directly for $12.4 trillion in managed assets, $561 billion in revenue, and 1.8 million jobs.

Habitat for Humanity International (http://www.habitat.org) is an ecumenical Christian ministry dedicated to eliminating poverty housing. Founded by Millard Fuller, along with his wife, Linda, Habitat for Humanity International and its affiliates in more than 2,000 communities in 83 nations have built and sold more than 120,000 homes to partner families with no-profit, zero-interest mortgages.