STRONG ECONOMIES

Supporting Communities

Creating more than 6,500 affordable housing units through Community Development Banking.

Helping build strong communities

Strengthening the communities we serve is fundamental to the future of our business. As we grow globally, our roots remain in local communities. Our work with communities spans the spectrum from consumer and commercial lending to investing and promoting economic development, philanthropy, helping nonprofits and addressing critical needs.

Our focus areas

Community development

In order for communities to thrive, they need a stable housing base. To help achieve this, we are helping customers in need of housing assistance. We do this through our outreach efforts, business activities, philanthropic giving and nonprofit partnerships, including home retention, homeownership and affordable housing options. In fact, since 2009 we’ve participated in more than 800 outreach events, meeting over 125,000 customers and have opened 50 Customer Assistance Centers in 25 states for customers to meet face-to-face with our representatives.

The Bank of America Charitable Foundation recently awarded $22 million in grants to more than 650 nonprofits addressing housing needs across 34 states. Funding will help build and rehabilitate affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services intended to revitalize neighborhoods and help working families find and keep suitable homes. In addition, we partner with nearly 600 HUD-approved nonprofit organizations to educate and counsel homebuyers, helping them understand the benefits and responsibilities of home ownership. We also focus on the revitalization of low- and moderate-income communities through our philanthropic efforts and creation and preservation of affordable housing, vibrant retail and commercial options across the U.S. As part of this commitment, through our Community Development Banking business we provided more than $1.6 billion to help create more than 12,000 affordable housing units for individuals with special needs, families, seniors and veterans in 2011.

See it in Action

Bank of America ranked 15th on the Civic 50 List For Community Engagement

The National Conference on Citizenship and Points of Light, the nation’s definitive experts on civic engagement, in partnership with Bloomberg LP, recently announced that Bank of America has been named to The Civic 50 list, placing at #15. The list is the first comprehensive ranking of S&P 500 companies that best use their time, talent and resources to improve the quality of life in the communities where they do business. More More.

Wounded Warrior Project logo

Sponsoring Wounded Warrior Project™

The mission of Wounded Warrior Project is to honor and empower wounded service members and veterans. Our support of WWP provides economic empowerment programs free of charge to help wounded service members manage their work and financial lives. These include job training, financial education and coaching to help them successfully re-enter the workforce... More More.

Bank of America announces more than $22 million in grants to housing nonprofits

The Bank of America Charitable Foundation today announced that it is awarding $22 million in grants to nonprofits that build and rehab affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services intended to revitalize neighborhoods and help working families find and keep suitable homes. More More.

Outreach events

We continue to look for opportunities to reach out to customers experiencing financial difficulty and help with mortgage modifications. Our outreach efforts include events, mobile tours and the opening of 50 Customer Assistance Centers. More More

Affordable Housing Group of N.C.

Elderly neighbors in the Cherry neighborhood of Charlotte, North Carolina, realized they were getting priced out of the neighborhood they lived in their entire lives. That’s when the Affordable Housing Group of N.C. partnered with Bank of America. Together we created safe, affordable housing units that are the first-ever LEED-certified housing for senior residents in the Cherry area. It also helped preserve a community and enrich a way of life for many. More More.

Private Sector Partner of the Year

Many communities are working to help the homeless by providing more supportive housing, which include on-site services that provide these vulnerable tenants with access to safe, healthy housing options. In October 2011, Bank of America was honored by the Supportive Housing Network of New York as its Private Sector Partner of the Year. Overall, we have provided $67 million in investments in the New York City area for supportive housing projects in the last few years. In the fourth quarter of 2011 alone, we continued investing in supportive housing nationwide, providing $103 million in debt and equity to help create 368 housing units in California, New York and Washington State.

Oakwood Shores Senior Apartments in Chicago

Through our financing, we helped create 3,000 affordable rental and for-sale housing units and much needed services for elderly residents in the community, as well as parks, schools and retail facilities.

Economic development

We are committed to sustained economic growth and neighborhood revitalization programs focused on job creation, small businesses, lending and investing to enhance infrastructures in low- and moderate-income communities. Our focus continues to be on supporting institutions that improve the quality of life in our communities through arts and culture, education and healthcare. These institutions act as economic catalysts by sparking employment, tourism and other impactful areas.

See it in Action

The Bank of America Chicago Marathon gives local economy a lift

Annual event raises funds for international nonprofits while boosting local economy. More More.

A community-led renewal in Atlanta

Bank of America and the East Lake Foundation work together to provide teens with workforce training and placement within the Villages of East Lake. More More.

A Community Connects in the Chelsea Box District

The Neighborhood Developers and Bank of America are building affordable housing and creating a sense of community in Chelsea, Massachusetts. More More.

Partnering with CDFIs

Our partnerships with Community Development Financial Institutions (CDFIs) provide capital, liquidity and technical assistance to expand access to resources in traditionally underserved communities. We currently invest more than $1 billion in more than 120 CDFIs in 37 states and 8 countries, financing affordable housing, community facilities, nonprofits, small businesses and micro-enterprises. More More.

Workforce development and education

Connecting individuals to employment opportunities is a key component contributing to each community’s economic growth. That's why Bank of America supports workforce development and educational opportunities. These efforts help small businesses and individuals get training and education that lead to post-secondary completion, employment and stronger economies. It’s part of our lending and investing activities to help improve communities, making them better places in which to live and do business.

For more information on our U.S. philanthropic focus on the three areas vital to local economies: community development (housing), workforce development/eduction (jobs) and basic human services (hunger), please visit our charitable foundation funding page.

Bridging the achievement gap

We support programs that help middle school and high school students successfully transition to higher education. We do this to help students of all ages access and complete post-secondary education and obtain livable-wage jobs.

During the past two years, we invested more than $20 million in academic achievement, dropout prevention and mentoring programs such as National College Advising Corps, Citizen Schools, Teach for America, Big Brothers/Big Sisters- and Boys and Girls Clubs of America. We also support educational programs that help first-generation Americans and minorities' attain their educational goals, including robust partnerships with United Negro College Fund and the Hispanic Scholarship Fund.

See it in Action
Boys & Girls Clubs of America

Partnering with Boys & Girls Clubs of America

We believe young people deserve a chance at a great future, regardless of the community they grow up in. Yet today, more than 15 million kids are home without adult supervision after school and one in four kids won’t graduate on time, undermining their chance to succeed. That’s why we’ve partnered with the Boys and Girls Clubs of America to support their Great Futures Campaign: the Campaign for America’s Kids. More More.

After School Matters

Shaping Chicago's future, one student at a time

After School Matters has reached over 100,000 Chicago students and become a nationally recognized model for introducing students to the workforce. More More.

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Connecting Philadelphia’s Youth to the Workforce

The Philadelphia Youth Network partners with Bank of America on the WorkReady Philadelphia summer employment program and hosts five Student Leaders. More More.

Training workers for 21st century jobs

We’re supporting initiatives that move people toward economic self-sufficiency by providing opportunities to improve the educational and developmental outcomes for each individual. Our education efforts are increasingly focused on assisting people of all ages to access and complete their post-secondary degrees and/or credentials.

We understand that there is a great need for programs that help combat the dropout rate and help young people—particularly those at-risk—gain knowledge and skills for stable employment and fulfilling lives. We continue to be focused on helping underserved young adults become self-sufficient through workforce development opportunities, mentoring, post-secondary credentialing and training. Whether it’s a university, community college or trade skills development program, our objective is to connect individuals to livable-wage jobs. By leveraging our philanthropy and business practices, we are helping to empower low- and moderate-income individuals and families to gain stability and long-term success.

See it in Action
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Connecting Philadelphia’s Youth to the Workforce

The Philadelphia Youth Network partners with Bank of America on the WorkReady Philadelphia summer employment program and hosts five Student Leaders. More More.

Bank of America helps develop future Latino leaders

Bank of America recently made a commitment of $1 million to support the Congressional Hispanic Caucus Institute’s(CHCI) 21st Century Leadership Center, an investment that is part of the company’s overall efforts to connect future leaders to success. More More.

A Spark After 90 Years

United Way of the Bay Area is celebrating its 90th anniversary. It continues to develop innovative programming with partners like Opportunity Junction. More More.

Nanelle Napp outside of a school

A model citizen

Nanelle Napp exemplifies the volunteer spirit at Bank of America through her work with Citizen Schools North Carolina. More More.

Community college partnerships

Education is the key to combatting unemployment and underemployment. That's why we're partnering with a range of national and local nonprofits to address college access and college completion with a focus on community colleges. In particular, we align our education partnerships to our core business strategy through innovative approaches that connect students with financial supports and education by leveraging the expertise of our employee volunteers.

We work with national partners such as Year Up, YouthBuild and the National Wildlife Federation in partnership with Jobs for the Future to support educational advancement and connect workers to high-growth employment opportunities such as green jobs.

See it in Action

Over $22 million in grants to support workforce development and education

Central Piedmont Community College (CPCC) in Charlotte, with the support of Bank of America, is helping hundreds of veterans make the transition from the military to civilian jobs. CPCC is an innovator in workforce development training; their program provides training, academic counseling and support services, all geared to help members of the military translate their skills into jobs in areas of economic growth. CPCC is just one of over 1,000 nonprofits in 34 states that have benefited from over $22 million in 2012 philanthropic funding from the Bank of America Charitable Foundation.

Achieving the dream

Community colleges play a major role in the U.S. educational system, but only 54 % of students at community colleges complete their degree. Often life issues such as financial management disrupt the educational process. This underscores the need for programs that provide pathways for knowledge and skills to put individuals on the road to stable employment. So we've partnered with Achieving the Dream to help support community colleges in designing programs that teach students financial management skills — a critical step in helping students stay in college and achieve financial stability.

Year up

Year up

We are committed to creating the workforce of tomorrow by expanding workforce training and development. Our partnership with Year Up provides young adults ages 18 to 24 with a combination of technical and professional skills, college credits, educational stipends and corporate internships. More More.

Connecting people to employment opportunities

We are helping individuals who are underemployed and unemployed obtain the experience and skills they need to gain economic self-sufficiency with a livable-wage career. Our support includes partnering with organizations that provide job training and placement programs such as GED prep, adult literacy, case management and on-the-job vocational skills building.

Our focus is on programs that help marginalized, low-income individuals, including veterans, at-risk youth, disabled adults and refugees. We also support internships, apprenticeships, mentoring and coaching to help individuals transfer their existing skills and experience to meaningful and sustainable careers.

See it in Action
Community Spotlight icon

Inspiring a student’s passion

Robert Jackson worked multiple jobs to help his single mother make ends meet – paying for groceries and covering the rent. Now, he’s a student at New York University studying theater and politics, trying to earn money to cover incidental college expenses. Jackson was one of 50 students to receive a paid summer internship through Houston’s Summer Youth Initiative and Bank of America. He spent last summer working part-time at the city’s Alley Theatre and in a retail store, gaining valuable work experience and support for college. More More.

A commitment to employing military service members

Helping our veterans make successful transitions at home More More.

Empowering students to make their dreams a reality

Learn more about how we enabled KIPP DC to grow from an Anacostia church basement to a school campus; in its 10th year, KIPP has empowered 1,500 kids to achieve the dream of college. More More.

Basic human services

We know that individuals and families are facing significant challenges that threaten their economic stability. To respond to these basic human services, we've increased our support for hunger relief and deployed an integrated approach to human services. We hope to increase our impact by leveraging volunteerism and partnerships that support financial education and empowerment. Our investments include a wide variety of programs, such as a robust partnership with the United Way.

Hunger

With 49 million Americans struggling to find their next meal, hunger remains a pressing issue in the country. That's why we've deepened our commitment to fighting hunger. In addition to national and local philanthropic investments, our employees volunteer with local food banks and help pack and sort food. Through our partnership with Feeding America, the nation's largest hunger relief organization, we're working to illuminate the face of hunger in our communities. We've also partnered with Save the Children and the World Food Programme to support hunger relief and nutrition efforts globally.

See it in Action
Child sitting at table eating

Fighting hunger through nearly $30 million in philanthropy

Bank of America’s focus on hunger dates back to 2009, when the economic downturn increased the number of people whose critical needs were not being met. Since then, the company has contributed nearly $30 million to a range of nonprofits to address these issues. More More.

Serving New Jersey's most needy

Mark Cremonni is a dedicated Bank of America Merrill Lynch employee and volunteer at St. John’s Soup Kitchen in Newark, New Jersey. More More.

Man at Great Chicago Food Depository

The Greater Chicago Food Depository distributes over 60 million pounds of food to families in Cook County

Every day, over 800,000 people wake up hungry in the Chicago area, including one out of five children. And rather than lessening, the need is intensifying, with demand at one local food bank up 68% over the last four years More More.

Disaster relief

When disaster impacts communities, Bank of America responds. Through our charitable foundation, different lines of business- and employee engagement programs, we provide help with immediate relief and, for severe disasters, long-term recovery and reconstruction efforts. Since 2009, we've provided nearly $5 million to support global disaster—relief efforts, helping communities rebuild and move forward.

See it in Action

Join us in helping the victims of Typhoon Haiyan

In response to the devastating typhoon in the Philippines, Bank of America has donated $250,000 to assist in immediate relief efforts. This amount will be split between the American Red Cross Philippines Typhoon Appeal and Save the Children, two nonprofit organizations that are experts in emergency response and have on-the-ground presence in the region. More More.

The One Fund

Supporting those affected by the events in Boston

In April 2013, Massachusetts Governor Deval Patrick and then Boston Mayor Tom Menino announced the creation of “The One Fund Boston,” to raise money to help those affected by the tragic events that unfolded during the Marathon. Bank of America pledged $250,000 in philanthropic support to help individuals and families rebuild their lives in the days, weeks and months that followed. More More.

From Destruction to Expansion

From destruction to expansion

International Motor Freight resumed its operations after Hurricane Sandy with support from Bank of America. More More.

Partnership with the American Red Cross

Partnership with the American Red Cross

We have a long-standing partnership with the American Red Cross to help provide immediate response and relief to disasters ranging from tornadoes, flooding and wildfires across the U.S. to natural disasters in Haiti, Chile, China and Russia. Since 2008, we've invested $2.5 million to give meaningful support for those in need. Our goal is to work with the American Red Cross to ensure that partners on the ground have the necessary supplies and resources to help those in need.

Transitioning from support to security

To assist individuals and families in need, we partner with a range of nonprofit organizations helping to deliver immediate services, as well as financial empowerment programs that help individuals achieve long-term economic success. From a food bank offering financial education to free tax assistance to obtain the Earned Income Tax Credit (a federal government benefit), our community programs help individuals secure a path to financial stability, making them critical components to success.

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Supporting Businesses

Supporting Businesses 

To help fuel the economy, we work hard to help businesses create or retain jobs through traditional and low-cost lending programs.