MCALLEN, Texas, Dec. 3, 2014 /PRNewswire/ -- The BBVA Compass Foundation kicked off Project Blue Elf, its signature holiday initiative, today at Thigpen-Zavala Elementary School in McAllen, Texas.

As part of the seasonal program designed to bring joy to children in need, bank volunteers — clad in BBVA Compass blue and dubbed the Blue Elves — provided financial education and new toys to nearly 200 kindergarten and second-grade students.

"Project Blue Elf allows us to brighten the holidays for many of the estimated 5.5 million children who live in poverty across the Sunbelt region of the U.S.," said Reymundo Ocanas, corporate responsibility and reputation director for BBVA Compass. "It's our way of spreading happiness throughout our communities during this season of giving."

Project Blue Elf launched in 2013 and provided toys to nearly 2,000 children in six cities. The bank expanded the program this year to 19 communities in Alabama, Arizona, California, Colorado, New Mexico and Texas. A financial literacy component was also incorporated into Project Blue Elf as part of the bank's pledge to meet the specific needs of individuals in low- and moderate-income areas.

"We're helping students begin to understand how to make smart money choices, and giving them a foundation to build on well into the future," Ocanas said.

To join the Project Blue Elf initiative, individuals can share BBVA Compass' holiday card, available at www.bbvacompass.com/happyholidays, to help raise awareness of the program.

About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.

About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 673 branches, including 342 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th).

BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration and recently earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com. 

Editor's Note:
BBVA Compass is a trade name of Compass Bank.

Logo - http://photos.prnewswire.com/prnh/20140825/139263

Photo - http://photos.prnewswire.com/prnh/20141203/162200

Photo - http://photos.prnewswire.com/prnh/20141203/162201

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bbva-compass-project-blue-elf-brings-financial-education-toys-to-mcallen-children-300004364.html

SOURCE BBVA Compass