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DEI Vision & Strategy

Embracing diversity. Promoting equity. Cultivating inclusivity. 

What DEI means to us

Diversity means the unique differences that shape our team and contribute to our success. It does not just include age, minority, and gender status, but it encompasses all of the unique things that make us different, including beliefs, religion, nationality, sexual orientation, disability, veteran experiences, gender identity, and education.

 

Equity means providing fair treatment through policies and practices that promote equal access and opportunity intended to level the playing field among our employees, partners, and customers.

 

Inclusion involves recognizing, embracing, valuing, and engaging different ideas, perspectives, and backgrounds into our everyday decisions, actions, and behaviors.

 

Great companies work to embrace a culture of diversity, equity, and inclusion, power innovation by valuing creativity, different thoughts, and ideas, and increase their understanding of the diverse communities they serve. In addition, they attract the best talent, work to identify and eliminate barriers to fair and equitable treatment at all levels, and engage and energize their workforce to achieve the company’s objectives and ultimately obtain measurable results. This doesn’t happen overnight; it takes a concerted effort to make diversity, equity, and inclusion part of our day-to-day lives. 

 

Statement from Flagstar CEO Tom Cangemi

“We understand that addressing decades of inequality is a marathon, not a sprint. While we’re off and running, we are committed to making our company and the communities we serve better and more equitable for all.

 

Over the past few years, the groundwork was laid to create a culture where we talk openly about issues, but the journey is far from over. We must lend our voices to conversations centered on kindness, humanity, acceptance, equity, and creating an environment where we can all thrive. When our teammates believe they are heard and understood, it builds a sense of belonging and inclusion. When trust is present, teammates feel safe bringing their authentic selves to work. At Flagstar, we challenge each other to reach greater heights by utilizing our diverse talents and skill sets to help people succeed.

 

We are committed to continued growth, speaking out, and championing a more equitable future. We will continue to evolve in the ways that we recognize and celebrate the diversity of our teammates throughout the year.

 

I’m incredibly proud to be a part of our evolving cultural change as we drive progress in serving our diverse populations, both within Flagstar and throughout our communities.”

Our DEI vision and principles

Our mission is to build and leverage a diverse, inclusive, and engaged workforce that inspires all individuals to work together toward a common goal of superior business results by embracing the unique needs and objectives of our customers and community.
 
We seek to remove barriers so that everyone has the same access to thrive and advance here.

 

Our Strategy

Flagstar’s diversity, equity, and inclusion vision is built around six focus areas. The progress of our focus areas is reviewed quarterly with our ESG and DEI Management Committee, which includes our CEO.

Our Focus Areas

Self-assessments

We use DEI metrics to measure our strategic progress and report to our ESG and DEI Management Committee (which includes CEO Tom Cangemi) quarterly and to the Flagstar Board annually. We also conduct external self-assessments annually to identify opportunity areas and benchmarks, as well as solicit feedback through employee surveys.

Flagstar is committed to conducting an annual self-assessment and will remediate identified gaps to continuously improve our culture of diversity, equity, and inclusion. We are dedicated to ensuring that our DEI efforts are truly aligned with our long-term vision and remain in support of our defined focus areas. Our executive management actively supports and reviews the progress of our DEI initiatives and principles. We look forward to continuing to enhance our DEI program and know it will only make Flagstar stronger for our team members and customers.

We look forward to continuing to enhance our DEI program and know it will only make Flagstar stronger for our team members and customers.

 

Metrics reporting and accountability

Board of Directors - Annually

Board of Directors Committee - Quarterly

ESG and DEI Management Committee - Quarterly

DEI Advisory Council - Quarterly

DEI Core Team - Monthly

Employee Resource Group Leaders, DEI Committees, and Executive Sponsors - Quarterly

Company - Annually

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