As a financial services company with operations focused in eight states, we know how to think big, helping individuals and families, small businesses and large corporations succeed and thrive. But despite our regional presence and national capabilities, some of our most important work happens on a much smaller scale—with our neighbors and communities.
Through financial contributions and the generosity of our employees giving their time and talent, our company continues to make a significant impact in the communities we serve. We support initiatives that enhance educational opportunities in our communities, invest in economic development through our local chambers of commerce and teach financial literacy through our Learn for Life program.
We volunteer, serve on boards and give financial support to a variety of organizations that serve the most vulnerable citizens in our communities by addressing issues in areas of basic needs, education and economic development.
At BOK Financial, we are as strategic about how we give back to our communities as we are about managing our clients’ financial futures. So, while we’re proud of the combined $6.1 million the company and BOKF Foundation contributed in 2022, we’re equally proud of the impact our employees are making.
Last year, our employees donated more than 33,000 volunteer hours and more than 358 employees served in leadership roles with 430 nonprofit boards.Our annual campaign, corporate giving and employee contributions generated $2.7 million for local United Way organizations.
Also, in 2022, we celebrated an important giving milestone for our company and our company’s foundation: surpassing $100 million in contributions to nonprofits serving our communities. Since its creation in 1998, the BOKF Foundation has been funded through a portion of the company’s profits allowing us to give back to our communities in a significant way.
Over the past few years, the company has sharpened its focus and accelerated the deployment of resources to underserved communities of color by supporting nonprofit organizations providing programs to help close the gaps in four key areas: income inequality, workforce development, education and mentoring, and social justice inequities. As part of this effort, the company and BOKF Foundation provided a combined $455,000 to six nonprofit organizations in Tulsa and Dallas between 2021 and 2022.
See our most recent Community Report for additional information on the difference we’re making in our communities.
2022 community involvement
donated by company and BOKF Foundation
dedicated to meeting needs of underserved minority communities
of employees volunteering
served on nonprofit boards
Over the past 10 years
in affordable housing investments
in loan funding to support affordable housing projects
Commitment to the communities we serve is a value shared with many of our employees, evidenced by the number of our employees serving on boards, conducting financial education training and rolling up their shirtsleeves to help.
The company supports those efforts by providing each employee eight hours of paid volunteer time annually to support causes or organizations that are making a difference in the community, building key relationships and strategic partnerships that help drive our success. The volunteer hours our employees gave in 2022 equate to over $1 million in making a difference in our communities.
That commitment to volunteerism is led from the top of the company, with members of the executive leadership team serving on the boards of more than two dozen different community organizations.
ELT Members and Nonprofit Involvement
We know that a strong community is one in which companies of all sizes have access to growth opportunities. That’s why we are working to develop an inclusive supply chain comprised of diverse vendors, representing minority, women, veteran, LGBTQ+ and small businesses. Our goal is to support diverse businesses and promote innovation, creating economic impact by uplifting the communities where those businesses are located through job creation, increased wages and tax revenues.
In 2022, the company’s spend with diverse suppliers (across the Supplier.io identified 17 governed categories) represented 8.36% of the company’s controllable vendor spend processed through Accounts Payable. Our strategic plan is to:
- Build out our diverse supplier program with the goal of increasing the percentage of the company’s spend with small business and minority owned vendors and suppliers.
- Build a diverse supplier mentor program to assist with best practices, financial education, diversity training and recruiting, and information on how to get financial assistance.
- Build and strengthen our relationships with small and minority-owned businesses.
We are proud to partner with Cities for Financial Empowerment Fund’s Bank On initiative. Bank On is a national organization working to address factors that prevent individuals from opening bank accounts, ensuring that everyone has access to safe and affordable financial products and services. Core account features include low costs, no overdraft fees, robust transaction capabilities such as a debit or prepaid card, and online bill pay.
Bank On coalitions are locally-led partnerships between local public officials; city, state, and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in our communities. In addition to connecting people to safe and affordable accounts, Bank On coalitions also work to raise public awareness, target outreach to the unbanked, and expand access to financial education.