Catholic Charities USA Signs Strategic Alliance with Banca Civica Group

Oct 12, 2010, 08:48 ET from Catholic Charities USA

ALEXANDRIA, Va., Oct. 12 /PRNewswire-USNewswire/ -- Catholic Charities USA (CCUSA), the 100-year-old social service network working to reduce poverty in America, recently formed a strategic alliance with Banca Civica Group, a Spanish bank. The alliance will further the civic banking concept throughout the United States, while, at the same time, seek support for CCUSA's disaster assistance program.



Banca Civica Group has developed a unique model, civic banking, where customers are "citizens" and the bank discloses their earnings to them. The citizens designate where 30% of the bank's profits will be donated. Citizens choose from a variety of social projects, and once they have designated which philanthropic projects they want to support, Banca Civica Group provides the funds. Last year, the bank gave $100 million to non-profits in 78 countries. 

Rev. Larry Snyder, President and CEO of Catholic Charities USA, remarked that civic banking "is a good concept because it brings several groups together which are working to create strong and healthy communities. On the one hand, we have the bank as a corporation but we also have people with bank accounts who are invited to help to decide what segments of the community need more help. The final result is healthier communities."

Banca Civica's customers will have the choice to select Catholic Charities USA's disaster preparedness and response program as one of a handful of projects in the United States. Banca Civica Group's U.S. operations, headquartered in Washington, DC, aims to start banking operations in the first quarter of 2011.

Banca Civica is a well-established bank in Spain and ranks among the country's top 10 financial entities based on growth, profitability, solvency and reputation. Its unique business model is a key driver in this superior business performance and reputation. Banca Civica combines commercial and social benefit, allowing win-win relationships among the community, customers, social entities and the bank. The bank has 1.8 million customers and $60 billion in assets.

CCUSA was founded in 1910 "to bring about a sense of solidarity" among those in charitable ministries. Since 1910, CCUSA has encouraged professional social work practice, provided opportunities for training and networking, and served as a national voice and expert on poverty issues.

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Catholic Charities USA's members provide help and create hope for more than 9 million people a year regardless of religious, social, or economic backgrounds. For almost 300 years, Catholic Charities agencies have worked to reduce poverty by providing a myriad of vital services in their communities, ranging from health care and job training to food and housing. In 2010, Catholic Charities USA celebrates its centennial anniversary.

SOURCE Catholic Charities USA