Banking & Finance, Human Resources, and Nonprofits

Bank wins national diversity and inclusion award

November 30, 2017
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Troy-based Flagstar Bank operates roughly 100 branches across West Michigan and the state. Photo via wikimedia.org

A bank with a large presence in the region has been honored for its efforts to create a workforce that better reflects and serves its customers.

Troy-based Flagstar Bank, which has numerous locations in West Michigan, won the 2017 Organizational Diversity and Inclusion Award for companies with more than 1,000 employees from the Washington, D.C.-based Mortgage Bankers Association, or MBA.

The awards were presented at MBA's Annual Convention and Expo in Denver last month.

The Organizational Diversity and Inclusion Award recognizes company initiatives that were developed to increase diversity and inclusion within the leadership and employee base of member companies, fostering a mortgage banking industry that “better reflects and understands its customers,” according to the MBA.

“This award reflects the progress we’ve made and the efforts of all our team members in advancing Flagstar’s diversity and inclusion strategy,” said Zahira Gonzalvo, SVP and director of enterprise and organizational risk, who leads Flagstar’s diversity and inclusion initiative.

“I look forward to the future expansion of Flagstar’s diversity efforts through our employee resource groups that will put D&I into action throughout the company.”

Methodology

Two groups of judges from MBA’s Diversity and Inclusion Committee and MBA staff scored company initiatives.

Ratings were based on the identification of annual goals, demonstration of a tangible benefit to participants and the company, innovative program approaches and success in broadening the organization’s culture.

Flagstar Bank was cited for several initiatives, including across-the-board training, clear goals and metrics for success based on five distinct “pillars” of diversity and inclusion, mentorship and action diversifying its corporate board.

Flagstar Bank 

Flagstar Bancorp Inc. (NYSE: FBC) is a $16.9-billion savings and loan holding company.

Its subsidiary Flagstar Bank provides commercial, small business and consumer banking services through 99 branches in Michigan.

It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 95 retail locations in 27 states, representing the combined retail branches of Flagstar and Opes Advisors’ mortgage division.

Flagstar is a leading national originator and servicer of mortgage loans, handling payments and record keeping for $91-billion of home loans, representing 415,000 borrowers.

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