Discover’s latest Corporate Responsibility Report, published today, shares actions the company has taken to improve lives and strengthen communities by helping people achieve brighter financial futures. That purpose is even more critical now, as Americans face financial hardship resulting from economic impacts of the pandemic and unequal opportunity in our society. The company recognizes its role in being part of the change being sought in this country and is committed to making a positive difference through its practices.
The report’s theme, A Brighter Future, captures both Discover’s company purpose and its hope for the days ahead. Highlighted within the report is progress the company has made in four key areas, including:
Driving a Diverse and Inclusive Workforce
Discover aims to ensure all employees feel a sense of belonging, are treated fairly and respectfully, feel supported and engaged, and can thrive and contribute fully to the company’s shared success. Actions include:
- Pledging to achieve 50% representation of women in leadership positions by 2030 as part of the Chicago Network’s Campaign for Advancing Women Leaders in the Workplace Equity Pledge.
- Signing on to the CEO Action on Diversity and Inclusion Pledge, which supports a more inclusive workplace for employees, communities and society.
- Paying employees equally for their work; a recent analysis found women and minorities at Discover earn on average between $0.99 and $1.02 for every $1 earned by men and non-minorities.
- Creating a Diversity and Inclusion task force to help identify gaps and deficiencies and recommend actions to affect change.
Helping Our Customers Make Financial Progress
Discover’s workforce is united by a shared mission to help people spend smarter, manage debt better and save more so they achieve a brighter financial future. Fulfilling this mission includes:
- Zero annual fees on credit card products, no late fees on student loans, and no origination fees on personal loans.
- Providing industry-leading customer service as recognized by several awards.
- Offering multiple financial education tools, like Credit Scorecard and College Covered.
Creating a Bright Future for Employees
Discover strives to be the best place to work for its 18,000+ employees through the following:
- Providing education assistance through programs like Discover’s College Commitment, tuition reimbursement and Discover On-site MBA.
- Operating 100% of its call centers in the U.S, which is a distinct advantage in offering attractive salaries and career opportunities to employees and keeping jobs in America.
- Encouraging shared ownership for engagement by all its employees through its Employee Value Proposition.
Investing in our Communities
Volunteerism is a core value at Discover and how we make a real difference in local communities.
- In 2019, Discover had 14,500 volunteers who contributed to more than 70,000 volunteer hours through Discover Cares, a program that presents employees with many volunteer opportunities.
- Discover provides capital to underserved communities to improve opportunities for economic growth and advancement of disadvantaged families, such as the Delaware State Housing Authority (DSHA).
Discover champions financial education, which is crucial to helping people improve their quality of life and achieve a brighter future.
- Discover expanded its Pathway to Financial Success program to middle- and high-school students, educators and families through a partnership with Discovery Education, which reached over 1 million students in 2019.
- Through Discover’s 20+ year partnership with Junior Achievement, a $2 million commitment was made in 2019 to update the program’s curriculum and create a new interactive, digital finale to the course.
For more information, please visit: https://www.corporatereport.com/discover/2019/crr
Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.