Schwab Volunteer Week Begins; Thousands of “Schwabbies” Across the U.S. Embark on Projects to Benefit the Underserved

More than two thousand employees coast to coast will assist charities, many of which aim to help alleviate poverty and improve people’s financial well-being

Monday, May 16, 2011 6:00 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NYSE:
SCHW
"Each year I am filled with awe and gratitude to see the enthusiasm with which our employees come together for community service projects during Schwab Volunteer Week"

SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation’s annual Schwab Volunteer Week begins today in 20 cities across the U.S. This year’s event, which runs through Friday, May 20, marks the eighth consecutive year that Schwab has galvanized its employees to volunteer during a designated period of company-sponsored time off. Throughout the week, over 2,200 employees and executives will donate approximately 8,800 hours on more than 140 different service projects benefiting over 100 charities, many of which aim to help alleviate poverty and provide the foundation for financial stability.

“Each year I am filled with awe and gratitude to see the enthusiasm with which our employees come together for community service projects during Schwab Volunteer Week,” said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation. “These are employees who give real meaning to our corporate purpose, and who bring the Schwab spirit of fairness, empathy, responsiveness, teamwork and trust to life for people in the community who need a helping hand.”

“Although many of us volunteer in our communities on an ongoing basis throughout the year, Schwab Volunteer Week provides a unique experience,” said Walt Bettinger, president and chief executive officer of The Charles Schwab Corporation. “The opportunity to team up with my Schwab colleagues to serve others who are less fortunate makes Schwab Volunteer Week a very special event.”

Locations for the company-organized projects include Austin, Texas; Bakersfield, California; Boston; Charlotte, North Carolina; Chicago; Denver; Fairfield, Connecticut; Honolulu; Independence, Missouri; Indianapolis; Jersey City, New Jersey; New York City; Orlando and Palm Beach, Florida; Phoenix; Raleigh, North Carolina; Reno; Richfield, Ohio; San Diego; and the San Francisco Bay Area. Some of the locations will be offering projects on-site at Schwab locations to accommodate employees who may not be able to go to the off-site projects. On-site projects will include assembling tote-bags with comfort items for homeless children, making sandwiches for soup kitchen clients and decorating “one-sies” for new single mothers in transitional homes.

Charles Schwab Foundation will also make an average $500 grant to each organization where Schwab Volunteer Week projects are being held. In total, approximately $63,000 in grants will be distributed during Schwab Volunteer Week.

In addition to leading financial education workshops and mentoring, a variety of volunteer activities are planned for the week, including light construction, remodeling, painting, serving food and working on landscape and garden improvements. Benefiting organizations include:

  • Elementary schools, middle schools and high schools
  • A wide variety of organizations dedicated to providing health, social and human services to seniors, children, women and families, veterans and the disabled
  • Community food banks
  • Homeless shelters and transitional-support programs
  • Youth organizations such as Boys & Girls Clubs of America and Junior Achievement
  • Habitat for Humanity
  • Salvation Army
  • Goodwill
  • Project Night Night

Pilot Program in Denver Launched

This year, as a new pilot program, Schwab will donate an additional $10,000 to one of the nine participating charities in Denver, based on the people’s choice. The public is invited to cast their vote on Facebook for the organization they would like to see get the additional $10,000 grant. Voting isn’t restricted to Denver residents; anyone can vote wherever they live.

People can cast their vote by visiting the “Schwab Gives” tab on Schwab MoneyWise’s Facebook page, Facebook.com/SchwabMoneyWise. Votes must be submitted by midnight on Wednesday, May 18, in order to count. The winning organization will be announced and check presented on Friday, May 20, at Schwab’s Cherry Creek branch in Denver. The public can log in to Facebook to learn about the participating nonprofits and vote for any one of them:

Once their vote has been cast, the public will also have the opportunity to share which charity they voted for with their Facebook friends. If the campaign is successful, “Schwab Gives” will expand to other regions next year.

Photos of Schwab Volunteer Week projects and activities will be posted throughout the week at www.aboutschwab.com/community_services and stories posted on the new blog, SchwabTalk, at www.aboutschwab.com/press/blog.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.1 million client brokerage accounts, 1.4 million corporate retirement plan participants, 728,000 banking accounts, and $1.7 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com.

About Charles Schwab Foundation

The Charles Schwab Foundation is a nonprofit public benefit corporation, classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate on behalf of those in need so that everyone has the opportunity to achieve financial well-being. More information is available at www.aboutschwab.com/community_services.

Charles Schwab sponsors the SchwabMoneyWise Facebook page but isn't affiliated with Facebook and has no control over how Facebook or other third parties will use the information you share on the site. You should be familiar with Facebook's privacy and security policies, and understand how your information can be displayed and used throughout the site as well as other third-party sites that may be linked to by Facebook. For information about how Schwab may use the information you provide, please visit www.schwab.com/privacy. Our Facebook page and updates are for U.S. residents only. Facebook is a registered trademark of Facebook, Inc. (0511-3231)

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6723998&lang=en

Contact:

Charles Schwab & Co., Inc.
Sarah Bulgatz, 415-667-0328
sarah.bulgatz@schwab.com
or
CRT/tanaka
Mike Nelson, 703-894-5460
mnelson@crt-tanaka.com

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