We serve our clients in these communities, and many of our teammates and their families live and work there too, so the impact of these disasters is personal to us. We are a leader in corporate philanthropic giving at the national and local market level.
We’re helping our clients and teammates by leveraging our resources to assist individuals as they navigate a difficult time, and we’re working with nonprofit partners on the ground to help communities recover and rebuild.
The wildfires in Southern California are now considered one of the worst natural disasters in our country’s history. The devastation is heartbreaking and our thoughts are with our teammates, clients and communities that have — and continue to be — so greatly impacted.
Los Angeles is home to thousands of Bank of America teammates and clients and in times of need we believe in stepping up. This includes our $1 million grant to the American Red Cross and our $500,000 grant to the Los Angeles Food Bank. Both organizations are longtime partners who have the expertise needed to provide impacted individuals and families with shelter, food and relief supplies.
We have reached out to our clients throughout California to help ensure they are aware of the financial support and other resources available, while reminding them of our digital banking options that provide secure access to assist with their banking needs. We are also providing financial assistance to clients significantly impacted through our Client Assistance Program.
Support for small business owners is also a priority and we are working with the Los Angeles Area Chamber of Commerce through a $500,000 contribution to assist in the work they are doing to help small businesses as they navigate the challenges of recovery and rebuilding.
We offer assistance to impacted clients through our Client Assistance Program and by continuing to provide access to the important financial services on which these clients rely including:
We work to ensure the safety and security of our employees and offer a variety of support programs to help those impacted by disasters, including grants from our Employee Relief Fund and assistance from our Life Event Services team.
Over the course of 2023, our employees contributed more than 2.5 million volunteer hours and directed more than $82 million in combined individual giving and the bank’s matching gifts, volunteer grants and other employee-directed giving programs, impacting more than 45,000 nonprofits around the world. In times of crisis, we encourage our teammates to financially support relief efforts by lowering our matching gift program minimum to $1 (U.S. dollars based on local equivalency) and to volunteer to support relief efforts with national and local organizations.
