Investing in Hispanic-Latino teammates, clients and communities we serve

raul anaya

Growing up as a child of a small business owner and Mexican immigrants helped guide Raul Anaya’s path to Bank of America, where he began his career in 1989. Today he is President of Business Banking and President for Greater Los Angeles. “I always remember my roots as the son of immigrant parents,” Raul said. “I view my success as an opportunity to pay it forward and to help others around me become better bankers, better leaders and better individuals.” One of the ways Raul is paying it forward is as member of the Hispanic-Latino Executive Council, which is comprised of the bank’s most senior Hispanic-Latino executives who help devise strategies to influence how the company advances outcomes related to talent, responsible growth, and social responsibility.

I always remember my roots as the son of immigrant parents. I view my success as an opportunity to pay it forward and to help others around me become better bankers, better leaders and better individuals.
Raul Anaya | President of Business Banking and President for Greater Los Angeles

We’re proud to be the bank of choice for Hispanic-Latino clients and businesses. About one in every three checking accounts opened with us are by Hispanic-Latino clients. In addition, we continue to support our Hispanic-Latino clients' financial wellness– whether that is through programs like Mejores Hábitos Financieros™ (Better Money Habits) where we provide free, online tools and education to help build financial literacy, by delivering complete investment and wealth management solutions or helping them grow their businesses.

We continue to invest in the Hispanic-Latino communities we serve and are delivering on a $1.25 billion five-year commitment to people and communities of color with a focus on affordable housing, health, jobs and small business. Examples include:

  • We’ve provided more than $270 million to 95+ minority focused investment funds across the U.S. to date and increased our commitment to $350 million. And, we’ve closed investments in 20 MDIs and CDFI banks – for example working with Ponce Bank in the South Bronx which provides financial services to the Puerto Rican community.
  • We’ve invested $60 million in BIPOC affordable housing developers, a first-of-its kind fund supporting Enterprise’s Equitable Path Forward initiative.
  • We recently expanded our partnership with UnidosUS on the Latinos in Finance program which prepares individuals for careers in financial services in 16 communities across the country. We are also working with UnidosUS to support Hispanic-Latino community-based health organizations and affiliates across the U.S.

Through our $25 million signature jobs initiative, we are collaborating with 21 community colleges and public universities, including 10 Hispanic-serving institutions such as Baruch - The City University of New York (CUNY) and Arizona State University – Downtown Phoenix – to help expand the job pipeline for people of color.

We’ve also committed $750,000 to the Hispanic Scholarship Fund, a national nonprofit supporting Hispanic American higher education providing scholarships, programs and support services to Hispanic-Latino students to acquire a college degree, bringing our total funding to $1.4 million since 2018.

America’s history has been written in part by the many contributions of Hispanic-Latinos and we are honored to support partners like the Smithsonian National Museum of American History where Raul serves on the board of trustees for the new National Museum of the American Latino in Washington DC. Additionally, in 2021 Bank of America announced a $1 million gift to the Smithsonian Latino Center to support the opening of the Molina Family Latino Gallery at the Smithsonian’s National Museum of American History.

8/20/21