Consistent with PNC Bank’s longstanding commitment to helping women achieve financial success, PNC Project 257®: Accelerating Women’s Financial Equality reflects a variety of efforts through which PNC is helping close the 257-year economic gender gap that was identified by the World Economic Forum’s 2020 Global Gender Gap Report.
To cut to the chase, the report states that if progress continued at its current pace, it would take women two-and-a-half more centuries to economically catch up to men. (Read: way too long.)
Did you know…
- On average, only 56% of women are in the labor market, versus 78% of men, and women are significantly underrepresented in high-growth industries and jobs?
- Even in the 21st century, some women in similar positions as men are still paid less? Women are also less likely than men to earn income from investments + other activities outside of their job.
- There are still many countries where some women don’t have the right to open a bank account or obtain credit? Even though US laws provide women with equal access to credit, studies consistently show disparities between men and women when it comes to securing business loans + consumer financing.
Making a difference:
Nowhere in the world do men spend as much time on unpaid work (read: caregiving) as women, even in the US? Some of the ways that PNC is working to make a difference include:
- Growing its network of PNC-Certified Women’s Business Advocates (read: bankers with a strong commitment to support women clients), thereby initiating more conversations about money with women financial decision-makers
- Collaborating with the global nonprofit Coralus (formerly SheEO) to increase access to credit and support for women and nonbinary entrepreneurs
- Invest in Community Development Financial Institutions that support women + minority entrepreneurs
- Creating more opportunities for women in underrepresented industries, like its Women in Motorsports program with Chip Ganassi Racing
“PNC Bank is committed to creating more opportunities for women innovators, entrepreneurs, and business leaders in Seattle and nationwide,” said Laura MacNeil, PNC regional president of Washington State and West Coast Territory executive. “Our Main Street Bank model allows us to be intentional in how we impact the communities where we live and work, and Project 257 is a great example of how we are doing just that.”
Explore resources for women financial decision-makers and PNC Project 257. Help close the economic gender gap.
Quiz:
There are many factors that contribute to the economic gender gap. Test your knowledge as to why here.*
PNC, PNC Bank, and Project 257 are registered marks of The PNC Financial Services Group, Inc. (“PNC”).
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