Key Bank

Banking company with branches in 14 states.

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Headquarters:
127 Public Square
Cleveland, OH 44114
Employees: 13,483
CEO: Beth Mooney
Stock Symbol: KEY

Website: http://www.key.com

Career Site

Key Corp. ranks among the top banking firms in the U.S. The company has 966 Full Service branches located in 12 states with a network of 1,256 ATMs. The company's major operations are located in Ohio, New York and Washington state.

Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies.

The company has reduced its number of branches by 28 during the past year as more customers use online banking.

Key reported assets of $95.1 billion at the end of 2015 and deposits of $71.5 billion.

In 2015, Key reported total revenue of $4.25 billion, up from $4.11 billion a year ago, and net income of $892 million.

The company announced on October 30, 2015 it will acquire First Niagara Financial Group and is awaiting regulatory approval for the deal.

First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with approximately 390 branches, $39 billion in assets, $29 billion in deposits, and approximately 5,400 employees providing financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts.

History

Key's roots date back to 1849, when Society for Savings of Cleveland, OH was incorporated, and to 1825, when Commercial Bank of Albany, NY was founded.

On January 1, 2008, Key acquired U.S.B. Holding Co., Inc., the holding company for Union State Bank, a 31-branch state-chartered commercial bank headquartered in Orangeburg, New York. U.S.B. Holding Company had assets of $2.8 billion and deposits of $1.8 billion at the date of acquisition.

Key participated in the U.S. Treasury’s Capital Purchase Program in 2008, bolstering capital by $2.5 billion. The company paid off the TARP loan in March 2011.

In 2012, KeyBank acquired 37 branches in upstate NY in Buffalo and Rochester from HSBC.

Benefits

Key offers a comprehensive employee benefits package including health, dental and vision plans as well as life and travel insurance coverage.

Key will offer matching contributions to employees who donate to schools or qualifying 501(c) organizations.

Retirement benefits:

KeyCorp 401(k) Savings Plan
- Elect to defer up to 25% of your pay in the Savings Plan
- Key matches dollar-for-dollar up to 6 percent of your pay in the KeyCorp Common Stock Fund
- You can choose to invest your contributions among a wide variety of different investment funds
- You are immediately vested in the value of the contributions you make and Key's matching contributions

KeyCorp Cash Balance Pension Plan
The company paid pension plan accumulates money for eligible employees based on length of service and pay. Eligible employees are automatically enrolled in the Pension Plan if they are 21 years of age, have completed one year of service with Key and worked at least 1,000 hours during the last calendar year.

Stock Purchase Plan
Employees can purchase KeyCorp common stock at a 10% discount.

Paid Time Off (PTO) and Other Forms of Time Off - PTO combines vacation, personal days and sick time into one "bank" of days that you can use in any way you choose: for vacation, personal business, appointments, to participate in volunteer activities, for your own illness or to care for a sick family member. On-call and commission only employees are not eligible for PTO. Key provides other types of time-off for a variety of circumstances such as short-term medical leave, holidays, bereavement, jury duty and military, personal and family leaves.
Employee Assistance Program (EAP) - provides short-term voluntary, confidential consultation by phone for you and/or immediate family members when personal problems or work stress threaten your well-being and/or job performance.
Short-term Medical Leave - may provide a portion of your base pay for up to 26 weeks while you are on leave due to a non-work-related, medically certified impairment that prevents you from working.
Long-term Disability - may continue a portion of your pay beyond the 26 weeks covered under the short-term medical leave coverage for qualifying disabilities. Key provides coverage at 60% eligible earnings at no cost to you.
Key Discounts - employees are among our most valued customers. With the Key Discounts program, employees are eligible for discounts and special offers on our products and services and those from select retailers that include:
- Free checking
- Free Online Banking and Investing and Key Bill Pay
- Reduced rates or fee waivers on Travelers Checks, safe deposit boxes and credit cards
- Discounted consumer and mortgage loans
- Discounts from Key's Suppliers
- Discounts from a variety of popular online retailers
The Key Matching Gift Program - allows employees the opportunity to personally direct some of our philanthropic resources. The program will match dollar-for-dollar employee gifts made to qualifying 501(c)(3) organizations. All current full-time or permanent part-time employees of KeyCorp and its wholly owned subsidiaries, who have a least one year of service, are eligible to participate.
- Gifts made to any college, university, junior or community college or secondary schools (containing any grades K through 12) which meet certain requirements are eligible
- Gifts made to arts and cultural organizations such as, for example, museums, theaters, dance and opera companies, symphony orchestras, public television, libraries, historical societies, zoos and aquariums are eligible
- Gifts made to qualifying health and human services organizations that generally include family life services, behavior modification, domestic violence, disease research, prevention and treatment, hospitals, medical centers and clinics, childcare services, elderly care, food and clothing provision organizations are eligible
- Gifts made to civic organizations that promote the public welfare and general good of the community are included. Examples are affordable housing, neighborhood revitalization, advocacy, civil rights organizations such as the NAACP, and anti-discrimination groups such as the Anti Defamation League.
Education Assistance - Key encourages employees to participate in outside educational activities to increase their knowledge and improve skills. To support continued education, Key offers education assistance through tuition reimbursement to eligible employees.
Commuter Benefits Program - you can use pre-tax dollars to pay for your work-related parking and/or public transportation expenses.

Updated January 23, 2016