2020 Corporate Responsibility Report

Financial Progress

Our mission is to help people spend smarter, manage debt better, and save more so they can achieve a brighter financial future. Discover established this mission more than a dozen years ago, and we remain committed to delivering on it to help people manage their finances and achieve their personal goals.

America’s Financial Reality

53%
say personal finances are a source of anxiety.
59%
are unable to save.
69%
are unsatisfied with their personal financial condition.
40%
could not cover $400 expense with cash, savings, or credit card they could quickly pay off.
19%
of mortgage holders who have been late with a payment in the past year.

Source: Financial Industry Regulatory Authority, 2018; Federal Reserve, 2019.

As an institution with deep financial expertise, Discover is perfectly positioned to help by sharing our knowledge and developing products and services to promote a brighter financial future. For example, in 2019, Discover eliminated deposit account fees for customers with a checking, savings, money market, or certificate of deposit (CD) account from Discover Bank.

None of the Sneaky Stuff

We’ve said no to gimmicks, gotchas, and fees, so customers’ money can work harder for them.

No. Fees. Period.

No monthly fees on
any account.
No insufficient funds
or overdraft fees.
No minimum balance.
No ATM fees.
 
 
No Student Loan origination or late fees.
 
No origination
fees on Discover Personal Loans.

The products and services that we offer to help people achieve a brighter future
are available on our website at Discover.com.