Matthew Elliott | President, Bank of America Detroit
Hear from Matthew Elliott, President of Bank of America Detroit, about our role in keeping Detroit moving forward.
My team and I are committed to addressing racial and economic disparities by funding programs that empower citizens and break down barriers. I'm very fortunate to work for a company that commits the resources needed to really make an impact.
Matthew Elliott | President, Bank of America Detroit
Detroit is your home. It’s ours, too.
We are committed to helping our communities thrive - dedicating our resources to address the issues that matter most in each community where we live and work.
Turn financial knowledge into action
At Bank of America, we invest in the communities we serve. We’re not just here to help with your everyday banking. We’re here to help you go further, by providing banking solutions, powerful tools and financial education resources like Better Money Habits®.
small business spotlight
When entrepreneurs succeed, our communities do too
As America's #1 business lender, we are invested in local economies with over $30 billion in business loans. Our commitment includes providing funding to under-resourced small businesses and supporting entrepreneurs with the tools and resources to help them make every move matter. Whether starting out or looking to expand, their success continues to bring jobs and strengthens our community.
See how we support businesses
ongoing commitment
Offering the community
more ways to go
We're always looking for ways to support people's choices in the communities we serve. That's why Bank of America is adding charging stations for electric vehicles (EVs) to over 90 financial centers nationwide. For our customers who are interested, we have financing for EVs and charging accessories. And we're also supporting the choices our teammates make with employee rebates on EVs.
Learn more about our commitment
employee spotlight
Everyday dedication meets everyday appreciation
We continue to invest in our employees with initiatives like Sharing Success, which awarded 96% of colleagues additional compensation this year, nearly all in stock. This is the sixth time teammates received this award, totaling more than $4 billion. We are committed to being a Great Place to Work for our teammates locally and around the globe including providing leading benefits, minimum wage at $22/hr on track to $25/hr by 2025 and opportunities to build a career with us.
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Let’s build something together
Detroit is home to more than manufacturing; our streets are lined with award-winning restaurants, small businesses and a booming arts and culture district. The health crisis hit Detroit early and hard, particularly within the City itself, a low-to-moderate income area with a large minority population. Bank of America took action by moving quickly to address critical needs, starting with food insecurity. We funded an innovative program that utilized empty airline kitchens to produce meals for those in need—and also helped save jobs in the airline industry. We helped develop mobile COVID-19 testing units to overcome public transit challenges and reach our most vulnerable citizens. On the jobs front, we funded the startup of an organization that is the new front door for Detroit's burgeoning small business sector, and continued to fund Detroit’s entrepreneurship hub, empowering startups and local businesses to accelerate inclusive economic development. Lastly, we support a wonderful citywide summer jobs program that provides meaningful employment opportunities for Detroit youth. Workforce development will continue to be our focus in the upcoming months and years.
Closing the digital divide, opening new opportunities
For young people, the digital divide can be a daunting barrier to entry for careers in IT. That’s why NPower Michigan offers Tech Fundamentals, an education and job placement program for young people ages 18-25 and military veterans that provides the skills training and career pathways needed to enter and succeed in this growing field. A grant from Bank of America, part of the bank’s $1.25 billion, five-year commitment to advance racial equality and economic opportunity will help NPower Michigan continue to offer Tech Fundamentals and support the expansion of the program.
Racial equality and economic opportunity
At Bank of America, we’re committed to addressing the root causes of inequality through a company-wide commitment to advancing racial equality and economic opportunity across diverse communities. We are doing this by building upon our existing efforts and leveraging our strengths: creating more affordable housing and expanding home ownership, increasing lending and support to minority-owned small businesses, championing job training and career readiness and addressing health disparities like access to care. We also know we can’t solve these challenges alone, so we’re partnering with other corporations, local nonprofits and community leaders across the country who share our vision for creating meaningful change.
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The power of the arts
At Bank of America, we believe in the power of the arts to help economies thrive, educate and enrich societies, and create greater cultural understanding. That’s why we’re helping the arts flourish in communities across the globe.
Explore our commitmentFind a location
Whether you have everyday financial needs or more complex ones, our experienced specialists can help at locations around your city. Find a location and make an appointment to talk with us.
We remain committed to supporting you with your financial needs during the health crisis. Our top priority is the health and safety of our clients and teammates. We encourage visitors wear face coverings when visiting our centers.
In some locations, you may be required to wear a face covering to enter, in alignment with local ordinances.
We make customers our first priority.
Two years in a row, J.D. Power has certified Bank of America in:
Outstanding Customer/Client Satisfaction with Financial Health/Wellness Support
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