Nationwide Makes Additional Investment in Housing Initiative to End Systemic Racial Discrimination
FOR IMMEDIATE RELEASE
July 22, 2020
Contact: Joe Case | 614-249-6349 | joe.case@nationwide.com
Nationwide Makes Additional Investment in Housing Initiative to End Systemic Racial Discrimination
Commits $1M to National Fair Housing Alliance “Keys Unlock Dreams” Initiative
COLUMBUS, Ohio — In an effort to address systemic racism and make homeownership a reality for more Black and Hispanic families, Nationwide is announcing a $1 million, multi-year commitment to help fund a National Fair Housing Alliance initiative aimed at addressing affordable housing and homeownership.
“Homeownership and housing stability are the keys to achieving the American dream, yet for millions of people of color, that goal is out of reach,” said Nationwide CEO Kirt Walker. “We’ve been a long-standing partner with the National Fair Housing Alliance, working together to address systemic racism through targeted investments and education. Now more than ever, we want to put action behind our words to end racism. We look forward to working with the Alliance to influence community partners and consumers to make the stability of homeownership a reality.”
Unlocking the American Dream
The Keys Unlock Dreams initiative is designed to achieve four major goals: removing structural barriers that perpetuate racial inequity; expanding affordable and fair housing options; preventing an unbalanced recovery from the COVID-19 pandemic; and, helping close the racial wealth and homeownership gaps.
“Affordable housing creates stability for families, and it is the number one way for people to build wealth,” said Nationwide Chief Administrative Officer Gale King. “We want to make that stability and wealth-making ability more attainable for Black families, who are at an even greater disadvantage in the wake of the COVID-19 pandemic. This will include efforts to educate both business leaders and consumers on necessary changes to unlock opportunity for those who have been shut out due to systemic racism.”
This announcement comes in conjunction with Nationwide’s recent announcement of a separate $1 million, multi-year commitment to support local and national programs dedicated to fostering social justice. In addition, Nationwide has been working with the NFHA in support of bipartisan legislation that would create a new federal tax credit to fuel development and rehabilitation of single-family homes and attract development activity to underserved rural and urban communities across the country.
“I applaud Nationwide and the National Fair Housing Alliance for their efforts to both educate and invest in solutions that address a core issue of systemic racism,” said Representative Steve Stivers (R-Ohio 15th). “Public-private partnerships like this are essential if we are to see lasting change take hold in our society.”
“One of the ‘keys’ to addressing systemic racism is by expanding opportunities for homeownership among communities of color,” Congresswoman Joyce Beatty (D-Ohio 3rd) said. “We know that for the vast majority of Americans, the greatest source of wealth creation is owning a home, so it is critical we make sure more hardworking families have an opportunity to become homeowners—and with it a ‘down payment’ on a brighter future.”
She continued, “I commend Nationwide and the National Fair Housing Alliance for joining together to advance fair, affordable housing opportunities because these types of partnerships are critical to making impactful change, building stronger communities, and helping in our collective effort to address entrenched racial and social disparities in housing across the country.”
National Fair Housing Alliance CEO Lisa Rice commended Nationwide for its commitment to the Keys Unlock Dreams campaign.
“The Keys Unlock Dreams initiative comes at a time when the racial wealth and homeownership gaps are widening at alarming rates. The Black/White homeownership gap is now back to where it was in 1890, before redlining was illegal. The ongoing COVID-19 pandemic, which has laid bare longstanding structural inequities, will only exacerbate these disparities so the National Fair Housing Alliance is extremely grateful for Nationwide’s crucial support and partnership,” said Lisa Rice, president and CEO of the National Fair Housing Alliance. “Through this important and timely initiative, we look forward to promoting solutions that expand affordable, accessible, and fair housing, help guarantee that communities of color realize an equitable recovery from the COVID-19 crisis and empower consumers with the right financial and educational resources they need to obtain and sustain homeownership opportunities.”
Nationwide’s track record on diversity and inclusion
Nationwide has been an advocate for racial equality for decades, primarily in the areas of housing through partnerships with the National Fair Housing Alliance, National Urban League and UnidosUS (formerly NCLR); education through long-standing relationships with the Central Intercollegiate Athletic Association and the Executive Leadership Council; and economic empowerment by way of a partnership with the Black Enterprise Entrepreneurs Summit.
Nationwide has a strong track record as a company committed to diversity, inclusion and social justice. The company has been acknowledged as a leader in the insurance and financial services industry for its diversity in its board leadership.
In addition, it has a strong supplier diversity program that fosters the promotion, growth and development of minority, women, lesbian, gay and veteran-owned enterprises. Over the years, this has resulted in more than 3,400 jobs and more than $1 billion in spending.
These efforts are consistently recognized by third-parties. Nationwide earns top workplace awards, including:
- 2020 Fortune 100 Best Companies to Work For (six consecutive years)
- 2019 Fortune 100 Best Workplaces for Diversity (four consecutive years)
- 2018 Catalyst Award for supporting women in the workplace
- Best Places to Work for LGBTQ Equality, Human Rights Campaign Corporate Equality Index (sixteen consecutive years)
- Latina Style 50 Best Places to Work (seven consecutive years)
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About The National Fair Housing Alliance
Founded in 1988, NFHA is a consortium of more than 200 nonprofit fair housing organizations, state and local civil rights agencies, and individuals from throughout the United States. Headquartered in Washington, D.C., NFHA works to eliminate housing discrimination and ensure equal housing opportunity for all people through leadership, education, outreach, membership services, public policy initiatives, community development, advocacy, and enforcement.
About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.