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Can Social Impact Help the Queer Community?

How social impact is growing the bottom line 

What makes the gay rights campaign one of the most successful advocacy movements of all time? We recognized our social impact as an economic powerhouse and partnered with the business community to promote diversity and inclusion, leveraging corporate influence in the political sphere to further LGBTQ causes. Here’s how we’re maximizing that today.

 Hear how social impact is helping the queer community

Join us in creating more social impact in our community

Capital One is among the businesses that appreciate the value of the queer community and invest in our success through a number of social impact initiatives. Navarrete is the Executive Vice President and Head of External Affairs at Capital OneIn his role, Andy manages the company’s Corporate Affairs function, including media and public relations, community banking and finance, community development and relations, Corporate Social Responsibility (CSR) and corporate philanthropy. Capital One is committed to supporting the LGBTQ community, earning a 100% rating on the Human Rights Campaign’s Corporate Equality Index for the 16th consecutive year. 

 On this episode of Queer Money®, Andy joins us to share Capital One’s social impact journey, explaining what inspired the company’s commitment to making credit a lot more democratic. He discusses the business value in hiring ambassadors who reflect the communities they serve, partnering with nonprofits like The Ali Forney Center, and going all-in to celebrate Pride. Listen in for Andy’s insight around Capital One’s commitment to corporate social responsibility and learn how the bank is working to serve the LGBTQ community. 

[click_to_tweet tweet=”If you don’t take the time to understand your community, chances are you’re missing market opportunities. – Andy Navarrete ” quote=”If you don’t take the time to understand your community, chances are you’re missing market opportunities. – Andy Navarrete ” theme=”style3″]

 Topics covered on social impact

 Capital One’s social impact journey 

  • Choose the needs of the community over shareholders
  • Build a franchise around underserved customers

 The impetus for Capital One’s commitment to social impact 

  • Rich Fairbank wanted to make credit democratic
  • Price cards based on individual circumstances

 What gives Capital One a competitive advantage 

  • No physical locations to start (digital channels)
  • Café gives a compelling reason to visit a branch

 The Capital One Ambassadors  

  • A wealth of knowledge, expertise and empathy
  • Hire people who reflect the community

 The business value of social impact 

  • Insight into the community reveals market opportunities
  • Pay forward success = build next-gen of customers

 Why Capital One supports the LGBTQ community 

  • Provides biggest talent pool possible
  • Diversity + inclusion creates a virtuous circle

 Capital One’s partnership with The Ali Forney Center 

  • Offer services to LGBTQ youth in NYC 
  • Money coaching, workforce development

 Why Capital One participates in Pride 

  • Communicate support to LGBTQ associates 
  • Hub for events leads to a long-term relationship

 The business community’s commitment to social progress 

  • Government division necessitates corporate unity
  • Business Roundtable commitment to ALL stakeholders 

 What cool technology Capital One is developing now 

  • Building out Credit Wise capabilities (simulations) 
  • Eno chatbot provides real-time transparency 

 Connect with Andy 

 Resources for social impact

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Our social impact on the business community makes the gay rights campaign one of the most successful advocacy movements of all time. #LGBTQIssues #LGBTBusiness #LGBT #Gay #Lesbian #Bisexual #Transgender #Queer #Money #Business #FabulousGayLife

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