For more than 90 years, supporting the military has been a focus for Bank of America. We recognize the challenges that our veterans face upon returning home from serving our country, and we remain committed to helping them successfully transition back into their communities. In the last several years, we have broadened our programs for service members, veterans and their families, and bank employees who have served in the military. In doing so, our goal is to improve their lives through the areas of housing, employment, education, and wellness.
We understand the importance of having a safe and stable place to call home, especially for our veterans returning from service. Through donations to nonprofit organizations and local government programs, we are helping to connect them to the housing they need. Since 2012, we have donated more than 1,600 homes to military families and first responders across the country. We’re also volunteering with these nonprofits, working together on the ground to ready the properties for the military recipients to inhabit. These efforts are fueling the revitalization of the neighborhoods where these homes are located, while our donations are helping to aid the recovery of the housing market.
Military service members bring important skills and experiences to their careers, so we actively work to attract, develop and retain them as employees. Since 2011, Bank of America has hired more than 5,000 veterans, guard and reservists, and we are committed to hiring an additional 10,000 in the next several years. To meet our hiring goals, we have a dedicated team of recruiters who partner with organizations to identify and secure top talent. For details on our military and veteran recruiting efforts, visit http://militarytransition.bankofamerica.com/
In 2014, we expanded our Job Transition Assistance Program (JTAP) to military spouses. For employees whose families are relocating because of a change in military station, JTAP helps them find positions at the bank in their new location and positions them for continued growth in their careers.
We support a wide range of nonprofit organizations and education programs that help members of the military and their families, including programs that help service members and veterans achieve financial empowerment. Our efforts include financial education and coaching taught by employees through the bank’s Community Volunteers Program. We also provide financial education, wealth building and tax-preparation services, and scholarship opportunities for service members and their families.
We are also launching a comprehensive web resource to provide returning veterans with tools to assist with résumé building and the broader interviewing process, as well as information on Bank of America careers.
We offer a range of programs to engage military service members who work for the bank and their families. The company provides paid military leave for up to five years, including continued medical and insurance benefits and personal financial management when employees are called to active duty.
Our support for employee veterans, military service members and their families is provided primarily through our Military Support and Assistance Group (MSAG). The group is a network for veterans and their families, as well as active duty/reserve military and other employees, to work together on areas of common interest and support those affected by their experiences of military life. MSAG also creates opportunities for advancement and leadership development through networking, mentoring and information forums.
Additionally, we have developed a wide range of products and services specifically for those who serve, including special rates to more than two million military households, mortgage assistance, and enhanced customer services.
An ongoing commitment
According to Andrew Plepler, Bank of America’s ESG executive, “Our focus on military service members is critical to our overall Corporate Social Responsibility efforts and will provide the support and guidance veterans need as they leave active duty.”