Our Ongoing Commitment to the Military Includes Philanthropy, Increased Hiring, and Donated Homes for Veterans

Oct 21, 2012

Jim Knotts: Over the next couple of years, we’re going to have 2 million new veterans of the wars in Iraq and Afghanistan enter the civilian workplace and need a job, need a place to live, need extra support to deal with the situation that they experienced during the war.

Ben Dellinger: The hardest part was getting out. You don’t lose your friends, but like it’s basically all those people get taken away from you all at once. It felt like my life was over at times. Everything I thought I was was totally different. And in an instant.

Jeff Cathey: Bank of America has got a long and proud tradition of supporting the military. We’ve been there for over 90 years. We believe it’s our obligation to support the reintegration of veterans. Whether it’s critical needs, housing, jobs or whatever it takes to get the citizen soldier back into the civilian workforce.

Tim Maloney: Since 2009, Bank of America has donated over 5 million dollars to nonprofits that support members of the military.

Al Giordano: Probably what our biggest thing is with Bank of America is we like the perspective of employment—education, training and employment. When you have the quality employment and you are financially secure, then you can turn your attention to the rest of your community. And that’s what we want these warriors to be; we want them to be leaders in their community. But first, we have to establish them firmly.

Ronne Froman: When you join the military, you are programmed to be successful in the military. When you leave the military, nobody ever reprograms you to be successful in the real world. And that’s what we do. The military takes you from I to we, and we take you back from we to I.

Otto Delacruz: I’m still on that quest to find out exactly where I want to be. But that’s the fun part of this. I have this incredible knowledge that I obtained at this program. And the world is out there just waiting for me. The possibilities are endless.

Tammy LeValley: These guys face as lot of challenges when they come back from Iraq or Afghanistan. From just what they’ve seen while they were deployed, to coming back with an injury. Today we’re here with Ben and Katie. We have awarded them this mortgage free home, because of a wonderful partner like Bank of America.

Jim Knotts: The families that are going to be told today that they’ve been chosen to receive homes donated by Bank of America. And what more can you say? We’re going to change their lives. They are finally going to have the stable foundation that they need.

Dan Nevins: Most people want to do something to give back. They want to say thanks but they don’t know how.

Tim Maloney: For every note, for every picture, for every water bottle, we’re recognizing members of our military, our veterans and their families.

Dan Nevins: To see these people stand up and recognize and to see Bank of America lead from the front, it brings tears to my eyes and a chill down my spine to know that you know what we did overseas is for a reason.

Jim Knotts: At the end of the day, we just can’t do what we do for these deserving families without the support of companies like Bank of America, and just the donations made by everyday Americans who care.

Jeff Cathey: It’s important for companies to do more than just write a check. I know these servicemembers, I know what their challenges are, I know what their needs are when they come back. We’re going to hire them, we’re going to put them in houses, we‘ve got some consumer initiatives, we’ve got nonprofits that we can leverage. They’re in it for the long haul, and we’re in it for the long haul. We’ll be there with them.

For more than 90 years, supporting the military has been a focus for Bank of America. Our commitment includes funding for charitable organizations, offering banking services for service members, recruiting and hiring veterans, and donating homes to injured service members. In the last several years, recognizing the need, we have broadened our programs for service members, veterans and their families, and our employees who have served in the military. Here are some of the programs and products we have developed to improve the lives of those who have served our country.

Philanthropy and community outreach

Bank of America supports a wide range of nonprofit organizations that help members of the military and their families, including programs that assist service members and veterans achieve financial empowerment. Our efforts include financial education and coaching taught by our employees through the bank’s Community Volunteers Program. We also provide financial education, wealthbuilding and tax-preparation services and scholarship opportunities for service members and their families through nonprofits including Wounded Warrior Project, Student Veterans of America, Military Saves, Special Operations Warrior Foundations and National Disability Institute. Wounded Warrior Project, for example, provides financial education and job training for wounded service members, helping them re-enter the workforce.

We are also committed to making up to 1,000 homes available nationwide by donating them to Habitat for Humanity, military veteran-support charities and other nonprofit community-based organizations. In addition to providing housing for families in need, donating homes helps stabilize neighborhoods and aids the recovery of the housing market. The houses will be provided to those who have served our country, including 1,000 for injured military veterans and first responders.

Recruiting and hiring

Military service members bring important skills and life experiences to the bank and so we actively work to attract, develop and retain them. We currently employ nearly 6,000 active service members and veterans. We have exceeded our goal of doubling our hiring of veterans and integrating them into our workforce. To help make this happen, we have set up a dedicated team of specially trained recruiters who, in addition to their own efforts, will partner with a variety of organizations to identify and hire top talent. For details on our military and veteran recruiting efforts, visit http://careers.bankofamerica.com/military/.

Employee support and engagement

We also offer a wide range of programs to engage military service members and their families who work for the bank. 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 to support those affected by their experiences of military life. They also work to create opportunities for advancement and leadership development through networking, mentoring and information forums. Last year, MSAG started a program that provides peer-based support to Bank of America employees during their transition to and from active duty.

Banking products and services

Bank of America offers products for active duty personnel and their families, military veterans and retirees, and other government employees. We currently provide full-service banking to more than two million active and retired military households. For details, service members can visit their local Bank of America banking center. And through a partnership with the Department of Defense, we provide service members overseas with more than 70 branches and 300 ATM locations outside the U.S.

An ongoing commitment

According to Andrew Plepler, Bank of America’s Corporate Social Responsibility and Consumer Policy executive, “Through our Corporate Social Responsibility work, we reach out to individuals and families to address issues related to housing, employment, financial assistance and basic needs. Our focus on military service members is critical to our overall efforts and will provide the support and guidance they need as they leave active duty.”