Should it really take another 257 years[1] to close the economic gender gap? Not if PNC can help it!
Let’s Work Together to Close the Gap
Project 257®: Accelerating Women’s Financial Equality is how PNC will help close the 257-year economic gender gap that was identified by the World Economic Forum’s 2020 Global Gender Gap Report. According to the report, if progress continued at its current pace, it would take women two-and-a-half more centuries to economically catch up to men!
We have an opportunity to help shorten that timeline.
PNC is committed to making a positive difference by leveraging the power of our resources to accelerate women’s financial equality.
Why There’s an Economic Gender Gap
1. Under-representation in the workforce:
On average, only 55% of women are in the labor market, versus 78% of men, and women are significantly underrepresented in high-growth industries and jobs.
2. Pay disparities:
Even in the 21st century, some women in similar positions as men are still paid less. In addition, women are less likely than men to earn income from investments and other activities outside of their job.
3. Unequal access to credit:
It’s hard to believe that there are still 72 countries where some women don’t have the right to open a bank account or obtain credit. And even though U.S. laws provide women with equal access to credit, studies consistently show disparities between men and women when it comes to securing business loans and consumer financing.
4. Unpaid domestic work:
Nowhere in the world do men spend as much time on unpaid work as women. Even in the United States, women spend almost twice as much time as men on unpaid domestic work such as childcare and elder care.
What We’re Doing About It
As the fifth largest U.S. financial institution, PNC is well-positioned to tackle this challenge.
First, expect us to be a role model.
We recognize that being a great place for women to bank means we must also be a great place for women to grow professionally.
Explore pnc.com/women for examples of how we’re attracting, retaining, developing and advancing women leaders at PNC. We also share inspirational stories about women who tackle challenges to build a better future for themselves, their families and their communities in our Women Who Achieve series.
With PNC's Project 257, we’ll strengthen our focus on expanding access to credit to eligible businesses.
- Our PNC-Certified Women’s Business Advocates (WBAs) are bankers whose passion for supporting women clients and employees is both personal and professional. By growing our network of WBAs, we will initiate more conversations with more women about the benefits of borrowing.
- We will monitor the policies and practices we use to evaluate creditworthiness on a continual basis.
- We’ll invest in more Community Development Financial Institutions (CDFIs) that primarily support women and minority entrepreneurs.
"As a financial institution that prospers when our customers prosper, it makes perfect sense that we would want to help tackle the economic gender gap. Project 257 aligns with our brand purpose – when we accelerate women's financial equality, we are making a positive difference, leveraging the power of our resources to help all move forward financially."
— Beth Marcello, director of PNC Women's Business Development, PNC News Release
Read full News Release, 09/14/2021
Our Partnership with Coralus
What is a Coralus Venture?
"Ventures" are small businesses owned by women or nonbinary individuals working to address one or more of the UN Sustainable Development Goals that are chosen to receive a Coralus interest-free loan.
What is a Coralus Activator?
"Activators" are individuals who contribute to Coralus' loan pool by contributing $92 per month, or $1,100 annually, and share their expertise, professional networks and buying power to help Ventures grow and scale.
Insights For You
Manage Business Finances
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Its 0% interest loans and global support system benefit businesses like Brown Toy Box.
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Customers
257 Years Is Too Long to Wait
Every step toward gender financial equity matters.
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Customers
PNC's Project 257 Takes on Women’s Financial Equality
PNC has been working for more than two decades to help level the financial playing field for women.
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Our Signature Philanthropy Supports Childcare and Caregivers
PNC Grow Up Great positively impacts families, caregivers, the female workforce that leads many early childhood education organizations, and the next generation of women.
Meaningful Resources for Parents and Caregivers
Your preschooler's learning can happen anytime, anywhere, when using these tips developed by early childhood education experts. Explore Resources »
Let’s Start a Conversation
Call 1-877-PNC-BANK »
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Contact Us
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Important Legal Disclosures and Information
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Number of years identified by the World Economic Forum’s 2020 Global Gender Equity Gap Report (http://www3.weforum.org/docs/WEF_GGGR_2020.pdf, page 6), which found that at the current rate of progress it will take women 257 more years to economically catch up to men.
Project 257 is a registered mark of The PNC Financial Services Group, Inc.
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