Is your bank giving back? The old idea of charity has changed. The modern term is "corporate social responsibility (CSR)." Here's a look at CSR and what banks can do to align with this more integrated approach to community involvement.

• Author: Sullivan, Mary Beth
• Position: Fundamentals: Charitable Giving

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Nearly 50 years ago, President John F. Kennedy asked a new generation to consider not what their country could do for them, but what they could do for their country. He asked citizens to expand their involvement beyond paying taxes and to devote more time and energy to public service. Kennedy's request seems to have resonated across the decades. Today, corporate donations as well as hours volunteered by corporate employees to community organizations and other nonprofits have reached historic highs. The financial services industry is taking a leading role in this trend.

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Charitable giving has been redefined as corporate social responsibility (CSR). This term is designed to include not just a bank's donations of money and its Community Reinvestment Act-related activities, but also its donations of employee time.

The amount of time spent by consumers volunteering for causes has increased significantly over the past 20 years. This trend is most prevalent among younger generations. According to the Corporation for National and Community Service, the percentage of teenagers ages 16 to 19 who volunteer more than doubled between 1989 and 2005, from 13.4 percent to 28.4 percent. Though there have been some slight declines in recent years, volunteer rates across all age groups remain well above historic levels.

Part of this shift towards increased volunteerism is due to a change in attitudes. As the nation has achieved higher rates of education and affluence, its citizens have become more involved. Educational programs have also changed with more institutions making a concerted effort to get students more involved in their communities, so that today's college graduate has had more opportunities to volunteer than his or her parents might have had. And of course, events since the turn of the century such as September 11th, the Southeast Asian tsunami, and Hurricanes Katrina and Rita have inspired many to look for ways to actively help out those in need.

Technology has also made it easier for consumers to donate their time. The Internet has not only allowed many non-profit organizations to accept donations online, but has also enabled the creation of Web sites that allow consumers to easily search for volunteer opportunities in their area. Finally, social networking sites have given nonprofits a platform from which to promote their causes and communicate events to members. Banks and other companies are taking advantage of technology to promote volunteerism among their employees. For example, Bremer Financial Corp. of Saint Paul, Minn., has created a message board on its intranet that employees can use to post and search for volunteer opportunities. While the site is internal and is not directly...