Freddie Mac Ranks in the Top 10 in Fortune’s Best Companies For Minorities

Fortune Magazine announced its seventh annual list of Best Companies for Minorities. For the fourth year, Freddie Mac made the list, ranking 9th. This is the third year in a row that Freddie Mac was included in the top 10.

The good news, writes Fortune's Cora Daniels, is that "Corporate America is raising the bar, and the best keep on getting better." For example, during the seven-year life of the Fortune survey, company boards have become more diverse. People of color made up almost 21 percent of boardrooms in 2003, compared with 19 percent the year before and 11 percent in 2001.

To compile the list, Fortune contacted the companies on the Fortune 1000 list as well as the 200 largest privately held companies. The rankings were derived from a model that weighs data-driven information such as the number of minorities in the workforce and on the board; the rate at which minority employees are hired; and management accountability for hiring, promotion, and retention. Reporters also talked to employees to gain perspective.

In naming Freddie Mac to the list, Fortune noted that "a third of the workforce and almost 30 percent of managers" are minorities. Also, the piece pointed to the company's large charitable investments that help minority families as significant.

The rest of top 10 included: McDonald's, Fannie Mae, Sempra Energy, Union Bank, Denny's, the U.S. Postal Service; Pepsico; Southern California Edison; and PNM Resources.

Freddie Mac also recently was included on Computerworld’s list of best places for those working in IT. To learn more about a career at Freddie Mac, visit our Career section.