The Charles Schwab Foundation Pledges $1 Million for U.S. Disaster Relief
September 07 2005 - 12:44PM
PR Newswire (US)
SAN FRANCISCO, Sept. 7 /PRNewswire-FirstCall/ -- The Charles Schwab
Foundation is donating $500,000 to the American National Red Cross
and $500,000 to Habitat for Humanity for relief, recovery and
rebuilding efforts in Louisiana and Mississippi in the wake of
Hurricane Katrina. Additionally, the Foundation has increased the
company match (formerly $0.50 on the dollar) for employee donations
to nonprofit organizations that are helping with disaster relief.
Through its Matching Gifts Program, the Foundation is currently
donating one dollar for every employee dollar donated, up to the
annual limit of $1,000 per employee. To date, Schwab employees have
donated more than $150,000 for relief efforts, with an estimated
additional $150,000 matched by the Foundation. About Charles Schwab
The Charles Schwab Foundation is a private, nonprofit organization
created by The Charles Schwab Corporation to offer employees and
community investors ways to exercise their philanthropy, from
hands-on volunteer opportunities to employee matching gifts. The
Charles Schwab Corporation (NYSE / Nasdaq: SCH), through its
operating subsidiaries, provides securities brokerage and financial
services to individual investors and the independent investment
advisors who work with them. With over 7 million individual
investor accounts and more than $1 trillion in client assets, The
Charles Schwab Corporation is one of the nation's largest financial
services firms. Its subsidiary Charles Schwab & Co., Inc.
(member SIPC) provides a complete range of investment services and
products, including an extensive selection of mutual funds;
financial planning and investment advice; retirement plans;
referrals to independent fee-based investment advisors; and
custodial, operational and trading support for independent
fee-based investment advisors through its Schwab Institutional
division. Its subsidiary Charles Schwab Bank (member FDIC) provides
banking and mortgage services and products. The corporation's other
operating subsidiaries include U.S. Trust Corporation (member FDIC)
and CyberTrader(R), Inc. (member SIPC). These companies' Web sites
can be reached at http://www.schwab.com/,
http://www.schwabbank.com/, http://www.ustrust.com/, and
http://www.cybertrader.com/. Brokerage products: Not FDIC insured.
No Bank Guarantee. May Lose Value. DATASOURCE: Charles Schwab
CONTACT: Sarah Bulgatz of Charles Schwab, +1-415-636-5940 Web site:
http://www.schwab.com/
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