Like it or not, whether it's tracked on paper or not, this sort of thing IS taken into consideration when considering raises, bonuses, promotions, etc. Being a team player and being willing to go the extra mile are important to the big bosses since time immemorial. If the bank makes volunteering a priority, an advancement-minded employee at that bank should find a way to volunteer in some manner.
Going back many many years ago, I worked for a small, family-owned community bank that told each employee they must volunteer 12 or more hours per year at their choice of a wide range of community events. If they chose not to do the volunteering, they were automatically signed up for monthly payroll deductions to make a "donation" to the charity of the bank president's choice! I remember that one year I volunteered 11 hours and was supposed to put in my last hour at the last volunteer event of the year and unexpectedly couldn't make it due to illness. So, they docked my pay AND I had to explain myself to my boss's boss in his office. I think this was a bit harsh, and of course would never fly in today's era of political correctness and handling employees with kid gloves lest they sue.