Wainwright Bank Receives Community Partnership Award for Outstanding Business Practice

Center for Responsibility in Business

May 10, 2001

Chosen by a Prestigious Panel of Independent Judges, the Winners of 15th Annual Corporate Conscience Awards - "the Oscars of Corporate Responsibility" - Are Announced

The Center for Responsibility in Business (formerly known as The Council on Economic Priorities), the leading research organization on corporate social responsibility for over thirty years, today announced the winners of the 15th Annual CORPORATE CONSCIENCE AWARDS. They will be honored at a ceremony at The New York Marriott Marquis on June 14, 2001. Tyler Mathisen, co-anchor of CNBC's Market Watch, will be Master of Ceremonies. A panel of eighteen independent judges selected six American and international companies for their commitment to community relations, humane workplace conditions, environmental protection and diversity.

The six winning companies for the year 2001 are; Canon U.S.A. (Environmental Stewardship Award), Toyota (Environmental Stewardship Award), Fannie Mae (Diversity Award), SBC Communications (Diversity Award), Wainwright Bank & Trust Company (Community Partnership Award), and Coop Italia (SAI Humane Workplace Award).

The Center for Responsibility in Business's panel of judges represents a diverse and professional cross-section of experts in fields relating to corporate, social and environmental responsibility. They include: Paul Martin, Executive Director, Center for the Study of Human Rights, Columbia University; Ronald Grzywinski, Chairman, Shorebank Corporation; Paul Ostergard, President and CEO, Committee to Encourage Corporate Philanthropy; and Julie Tanner, Senior Financial Services Analyst, National Wildlife Federation.

Ms. Julie Tanner of the National Wildlife Federation said, "Corporations should be recognized when they take proactive steps to protect the earth's environment in order to achieve an equitable and sustainable future."

"Once again we are privileged to put the spotlight on extraordinary companies in the business community. Every year we wonder whether we can match the groups just honored, and each year we find companies of the highest moral and ethical caliber," states Peter Radford, Executive Director of the Center for Responsibility in Business.

The 2001 Corporate Conscience Awards are being co-chaired by Michael Goldstein, Chairman of Toys "R" Us, Charles Heimbold, Chairman & CEO of Bristol-Myers Squibb, Jeff Horner, President of SGF International Certification Services, and James D. Adamson, Chairman of Denny's Restaurant Group.

The Center for Responsibility in Business, (formerly known as the Council on Economic Priorities), an independent non-profit organization, has for thirty-two years been dedicated to promoting incentives for social and environmental performance. The Council on Economic Priorities is changing its name to one that better reflects both its roots and its mission as an organization. The Corporate Conscience Awards were established in 1987 to illustrate the developing leadership role of companies in shaping social and environmental policies.

The following award winning programs were selected from a group of finalists by an international, independent panel of judges. In addition to those previously mentioned, judges include: Gregory Watchman, Attorney at Law, Paul, Hastings, Janofsky & Walker LLP; Terrence Baker, Chief Research Officer and Senior Fellow, The Community Reinvestment and Revitalization Group; Gary Brouse, Director of Equality Programs and the Clearinghouse on Alternative Investments, Interfaith Center on Corporate Responsibility; Marcia Brumit Kropf, VP, Research and Advisory Services, Catalyst; Edmund Burke, Founder and Director Emeritus, Boston College Center for Corporate Community Relations; Joanne Ciulla, Professor, University of Richmond, Jepson School of Leadership Studies; Joe Keefe, President, New Circle Communications; Andrew King, Assistant Professor, New York University, Stern School of Business; Debora Leipziger, European Director, SAI; Frank Mendelson, Director, Environmental Management and Policy Program at Rensselar Polytechnic; Debora Spar, Professor, Harvard Business School; Ariane van Buren, Director of Energy and Environmental Programs, Interfaith Center on Corporate Responsibility; Meg Voorhies, Social Issues, Investor Responsibility Research Center; and Arthur Weissman, President & CEO, Green Seal.

Synopses of The Corporate Conscience Award Winners…

Community Partnership Award:

· Wainwright Bank & Trust Company: In the past 10 years, Wainwright has made more than $140 million in loan commitments to nonprofits ranging from affordable and special-needs housing programs and food banks to homeless shelters, and environmental groups. Through an aggressive fair housing initiative, Wainwright is working to create safe, clean affordable homes for low-income residents, as well as the elderly and mentally disabled.

Environmental Stewardship Award:

· Canon U.S.A.: Recognized worldwide as a premier producer of photographic and imaging equipment, the company operates the world's largest toner cartridge return program, designs and builds some of the most energy-efficient office machines, supports endangered species and habitat conservation with leading non-profits and encourages its employees to practice workplace conservation.

· Toyota: Prius is the Latin word meaning, "to go before"-a fitting name for the world's first mass-produced vehicle powered by both gas and electricity. Toyota first introduced this innovative hybrid to Japan in 1998, and today there are more than 50,000 vehicles on the road in the U.S. and abroad, providing a safe, efficient and practical alternative to conventional cars. With hopes of engaging motorists in the new technology, pricing for the Prius is set at a fairly affordable $20,000.

Diversity Award:

· Fannie Mae: It's no wonder that year after year Fannie Mae tops Fortune's list of companies that provide excellent employment opportunities for women and minorities. More than 21 percent of Fannie Mae's officers are minorities, including Chairman and CEO Franklin Raines, the first African American to head up a FORTUNE 500 company. Mentoring and networking programs, diversity training, internal, and external empowerment efforts make Fannie Mae a highly compelling model of an inclusive, integrated company.

· SBC Communications: One of the most respected telecommunications companies in the world, SBC Communications has achieved a remarkable record of diversity in the workplace, marketplace and communities in which they operate. Fifty percent of all SBC employees are women, with 37 percent people of color- numbers that far exceed most other Fortune 500 companies. Their corporate commitment to diversity extends to their suppliers: last year, the company spent more than $3.4 billion with minority-, women-, and disabled veteran-owned businesses.

SAI Humane Workplace Award:

· Coop Italia: Coop Italia is deeply committed to the SA8000 standard (which sets guidelines for companies concerned with the basic rights of workers), and has implemented an impressive array of programs designed to raise the bar for its colleague companies; these efforts include a compliance requirement that is now part of the terms for all Coop Italia's buying contracts. As a member of Intergroup Far East Ltd., a European organization that provides product control functions in non-food products, Coop Italia is working to create improved working conditions and a child labor-free policy.

Expanded Profiles on the Winners…

Community Partnership Award:

· Wainwright Bank & Trust Company has built its business around three things: outstanding personalized service, true financial value for customers, and a commitment to social responsibility. Wainwright's progressive agenda has permeated all of its practices, and given this public corporation a unique place among its industry peers.

In an unprecedented move, Wainwright created a senior position at the bank dedicated solely to socially responsible community development financing. In the past 10 years, Wainwright has made more than $140 million in loan commitments to nonprofits ranging from affordable and special-needs housing programs and food banks to homeless shelters, and environmental groups. The impact of the bank's lending activities far exceeds expectations: although Wainwright comprises less than one quarter of one percent of the banking assets in the Greater Boston area, the AIDS Housing Corporation estimates the bank has financed more than 50 percent of the housing projects for local people living with AIDS.

There are numerous ways Wainwright demonstrates its commitment to social causes and to the community at large. Guided by the principal that satisfied employees make for satisfied customers, the bank does much to foster diversity from the mailroom to the boardroom. Half of the bank's officers are women or minorities; in addition, Wainwright is the only publicly traded bank in the country with an openly gay female board member. In recognition of its leadership in this area, The Advocate, a national magazine covering gay and lesbian issues, named Wainwright one of the top 10 companies to work for.

Other accolades abound. In each of the last four years, Wainwright has received a Bank Enterprise Award from the U.S. Treasury Department in support of significant development lending in underserved communities.

Environmental Stewardship Award:

· Canon U.S.A., Inc. Canon's philosophy is simple. In the words of former president and honorary Chairman Ryuzaburo Kaku, "Global companies have no future if the earth has no future."

The company operates the world's largest toner cartridge return program, designs and builds some of the most energy-efficient office machines, supports endangered species and habitat conservation with leading non-profits and encourages its employees to practice workplace conservation.

Canon has made conservation a cornerstone of its activities, and voluntarily participates in the EPA's ENERGY STAR program to promote the manufacture of energy-efficient office equipment.

In 1990, Canon U.S.A. launched its Clean Earth Campaign, a pioneering program that encompasses the company's workplace conservation and recycling activities, as well as its environmentally focused philanthropic initiatives. The company also operates The Canon Remanufacturing Program, which maximizes resources by remanufacturing and reselling office equipment that in past years would have been discarded.

Generous donations totaling more than seven million dollars have supported endangered species and habitat conservation within U.S. National Parks.

Canon understands that education plays a major role in ensuring the long-term protection of the earth's natural resources. This is why the company supports three initiatives to promote environmental education

* The Canon National Parks Sciences Scholars Program works with the American Association for the Advancement of Science to provide doctoral candidates from leading universities with $75,000 scholarships to conduct research on behalf of National Park ecosystems.
* The Canon Envirothon, North America's largest high school environmental competition, rewards students who successfully integrate curricula with hands-on experience.
* Canon underwrites PBS's award-winning NATURE Series, television's leading showcase of nature and wildlife films, to raise the environmental consciousness of millions of Americans.

And through all of its varied and valuable environmental endeavors, Canon continues to pursue its company goal of kyosei: living and working together for the common good.

· Toyota Toshiaki "Tag" Taguchi, President and CEO of Toyota Motor North America, recently called on auto manufacturers to reduce the industry's environmental footprint: "Six billion people share this planet, and the days when the auto industry could just crank out cars without concern for their impact on the environment are over." Toyota has encouraged more innovations like its Prius, which achieves 80 percent better fuel economy while putting out 90 percent fewer emissions.

The car's Advanced Control System behaves a bit like having an efficiency expert on board at all times, selecting the right energy source for the situation. At high speeds, the gas engine is the primary source of power, and during coasting or braking, the electric motor functions as a generator to charge the battery. The car is specially programmed to reduce fuel consumption during city driving, when both the gas engine and electric motor are used equally. At a stop, the gas engine shuts down automatically, while the electric motor stands ready to power up the Prius, conserving fuel and eliminating exhaust emissions caused by idling.

With hopes of engaging motorists in the new technology, pricing for the Prius is set at a fairly affordable $20,000. A commitment to clean living is reflected in both Toyota's products and policies: all of the company's cars and trucks feature state-of-the-art emissions control, and though its vehicles are already 85 percent recyclable, Toyota continues to seek ways to produce less waste. Virtually 99 percent of all scrap metal generated by Toyota plants is now recycled, along with materials like plastic, paint and packaging. The company even recycles engine blocks, which keeps more than 500,000 pounds of material from ending up in landfills. And through its Green Supplier Guidelines, Toyota is challenging its North American-based suppliers to adopt the highest environmental standards in effect today.

Diversity Award:

· Fannie Mae, year after year has topped Fortune's list of companies that provide excellent employment opportunities for women and minorities. More than 24.4 percent of Fannie Mae's officers are minorities, including Chairman and CEO Franklin Raines, the first African American to head up a FORTUNE 500 company.

Employee education and communication is an important part of Fannie Mae's commitment to diversity and equal opportunity at all levels of the corporation. An ongoing Diversity Training Program aims to inform and inspire in cross-cultural relationships and fosters a healthy work environment. Employee Networking Groups based on common interests such as race, ethnicity, gender, sexual orientation and religion provide both informal and formal ways for sharing issues and channeling concerns to senior management. Fannie Mae also sponsors a Corporate Peer Mentor Program that creates mutually beneficial pairings and enables employees to grow both personally and professionally.

For more than three decades, Fannie Mae has helped nearly 38 million families finance their homes by providing over $3 trillion in funding. Ten years ago, the company invested in its own, creating a pioneering program to help Fannie Mae employees purchase property with forgivable loans to cover down payment and closing costs, or to buy down interest rates. Since 1991, more than 1,300 employees have enjoyed the Employer Assisted Housing (EAH) benefit, boosting the company's employee homeownership rate to 10 percent above the national average. Fannie Mae has helped more than 200 employers create EAH plans, successfully turning its own innovative initiative into a national one.

· SBC Communications, one of the most respected telecommunications companies in the world, has achieved a remarkable record of diversity in the workplace, marketplace and communities in which they operate. Fifty percent of all SBC employees are women, with 37 percent -people of color-numbers that far exceed most other Fortune 500 companies.

Diversity awareness is an important part of every course taught through SBC's Center for Learning, a virtual employee-training program offering professional development opportunities year-round. In addition, managers must demonstrate a commitment to diversity, which is evaluated as part of all performance reviews, and role models are rewarded.

The company spends more than $3.4 billion annually with minority-owned businesses, and is recognized as a leader in this area. In 1999, the company was named 'Corporation of the Year' by the National Minority Supplier Development Council in honor of its exemplary efforts.

With a $10 million donation from SBC Foundation, the Women's Museum: An Institute for the Future, a Smithsonian affiliate, opened last fall in Dallas, Texas. SBC's grant marked the largest corporate contribution ever given to any women's project or organization in the U.S., and provided the first round of funding necessary to get the pioneering project off the ground.

SBC has made other significant charitable contributions in support of minority populations, donating more than $28 million in 2000 alone. One of the company's major efforts has been to bring technology to communities in an attempt to narrow the digital divide between minorities and the mainstream. Last year, SBC made a $1 million grant to the National Association for the Advancement of Colored People's Technology Capacity Building Initiative to help the organization develop online client-based services for its growing constituency.

SAI Humane Workplace Award:

Coop Italia. Since its inception in 1997, Social Accountability 8000 (SA8000) has set the standard for companies concerned with the basic rights of workers. Coop Italia, the largest grocery retailer in Italy, has not only made sure that its own operations are in line with the comprehensive list of core labor rights SA8000 demands, but has met the greater challenge to assure that the standard is being achieved by a broad range of its suppliers, as well.

In December 1998, Coop Italia earned SA8000 certification for the family of facilities involved in the production of its store-brand food products: central buying, quality control and marketing services among them. Shortly thereafter, the company began developing a system to oversee conditions across a network of more than 300 suppliers. For those not in line with SA8000, the company provided intensive training in how to meet the standard, and worked with the suppliers to adopt and implement progressive plans moving toward compliance.

The company also intends to implement an internal and external communications program, improve relationships with Non-Governmental Organizations (NGOs) and trade unions, and extend the program to include the full chain of suppliers around the world, about 2,500 companies in all.

As a member of Intergroup Far East Ltd., a European organization that provides product control functions in non-food products for Scandinavian, Italian and Spanish cooperatives in Far Eastern areas, Coop Italia is working to create improved working conditions and a child labor-free policy. By working with organizations such as this, Coop Italia hopes one day to see a breakthrough on common labor standards and corporate accountability for the global economy as a whole

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