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.
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
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
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.
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.
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
The Hudson Companies
We're proud to help "green," affordable housing grow in Brooklyn, New York. Thanks to some dedicated builders and eager residents, we helped Hudson Companies redefine environmental and economic sustainability in New York by supporting the Dumont Green affordable housing unit. Today, Dumont Green stands as a true testament to the vision and determination of a neighborhood and business community coming together to help those less fortunate. More More
The Bank of America Chicago Marathon boosts the local economy
The 36th Bank of America Chicago Marathon took place on October 13, bringing together 45,000 runners, 12,000 volunteers and 1.7 million spectators for an extraordinary race. Participants, including elite runners and wheelchair athletes, converged on Chicago from all 50 states and more than 100 countries. More More
Bank of America 500
When the nation’s top race-car drivers step on the gas each October during the Bank of America 500 at Charlotte Motor Speedway, they do more than thunder down the straightaway. They also power an industry—broadly supported by Bank of America—that helps drive the regional economy. According to Speedway Motorsports Inc., which owns and operates Charlotte Motor Speedway, the Bank of America 500 contributes—directly or indirectly—an estimated $115 million to the region’s economy, which benefits from race-fan spending on hotels, restaurants, merchandise and other entertainment.