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KÖVET (Budapest Bank) - Civil cooperation, a long-term commitment

Added on 22-03-2013

Company

Budapest Bank

Network

KÖVET Association for Sustainable Economies

Year

Continuous

Business challenge

The Bank recognises the negative reputation associated with loan products, it is especially difficult for banks to be a credible supporter of civil initiatives. A long-term commitment, or even the creation of a charity drive linked to a product, can make a bank credible in supporting a cause represented by a given civil initiative.

Description

The Bank responded to this challenge through the relationship with the Volunteer Centre Foundation (ÖKA) in 2009 in relation to the Volunteerism Award competition, where Budapest Bank was the first winner of the corporate category with its’ Day of Care action’ program. Since volunteering is an integral part of Budapest Bank’s corporate culture, the bank stood behind the initiative as a supporter of the award in 2010 and 2011, thus helping to promote wider acceptance of the role of volunteering in society.

In addition to financial and professional assistance, in 2010 the bank also recognized the private individuals who contributed the most to promoting equal opportunities with his volunteer work. (In 2010 Budapest Bank announced its equal opportunities special award for private individuals again, in frame of the Volunteerism Award.) Supporting children also plays an important role in the bank’s CSR strategy.

The financial institution has been supporting the Peter Cerny Foundation since 2005: with the bank’s assistance, the organization has fitted several ambulances for premature babies with the necessary life-saving equipment over the years. As a committed supporter of the labour market integration of women, Budapest Bank launched its ‘Springboard, Budapest Bank – On Finances for Women’ program (Dobbantó) in 2010 in cooperation with the SEED Small Enterprise Development Foundation, during the course of which competency development trainings and club events for women entrepreneurs have been held.

Through its own foundations ( ’Budapest Bank for Budapest’ and ’Budapest Bank for Education and Hungarian Financial Culture’ foundations), as well as by cooperating with non-profit organizations (United Way Hungary Foundation, the Hungarian Red Cross, the LEA Foundation and the Hungarian Maltese Charity Service), Budapest Bank takes an active role in supporting culture, intellectual life, education and socially disadvantaged people.

Impact

Budapest Bank is approached by many civil organizations each year taking up positive causes, but unfortunately no company is able to stand behind every good cause. Therefore, that cooperation has to be selected that are for the long term and fit organically into the bank’s CSR strategy.

Challenges/Lessons learned:

With background support from the bank, civil organizations can concentrate on their professional work, while the bank, with the practical realization of its value propositions, strengthens its to-the-point approach and value-creating attitude.

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