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We’re connected to our communities
Every day, we ask our clients, neighbors, co-workers and partners: what would you like the power to do? Whether they want to own a home, start a business, build savings and credit, secure a job or make a difference, we connect communities to the lending, investing and giving they need to remain vibrant and vital.
We know our customers well because we’re part of their communities. That helps us deliver our global capabilities with a local, personal focus.
As part of each local community, we understand its economy, culture, strengths and challenges. We’re able to deliver effective solutions and service by matching the right resources to our clients’ individual needs.
Local focus: affordable housing
The cost of housing is a challenge in areas around the U.S., and we’ve been on the forefront of finding sustainable solutions. We’re connected locally to public and private partnerships in areas around the country from California to our headquarter city of Charlotte.
For example, together with Ally Financial and Barings, we’re investing over $70 million to fund affordable housing for families around Charlotte. In San Francisco and Los Angeles, we created ways to finance thousands of affordable, long-term housing units by giving capital to local housing authorities. And we have a long-standing partnership with Habitat for Humanity, which helps families afford new homes.
Where we are
Our investment in communities extends even further than our financial center locations across the country. We’re committed to strengthening our communities because they’re our homes, too. Whether it’s supporting local non-profits that help make an impact or lending to small businesses that keep our economy running, we’re committed to keeping our community healthy, stronger and connected.
Learn more about our commitment to help our customers, clients and communities thrive across all 50 states.
Our presence in more than 90 different U.S. markets makes us accessible and knowledgeable for our customers from coast to coast. As part of the local landscape, we’re familiar with an area’s unique traits, as well as its organizations and resources.
Leading the way in these communities are Bank of America market presidents who oversee integrated business teams to ensure we’re delivering the full capabilities of our company to each client in every community, and lead our interactions with countless nonprofit partners.
This helps us lead people and small businesses to the right solutions, education and sources of capital close to home. We often partner with community development financial institutions (CDFIs) and community banks to help families build the financial lives they want and to support small businesses. And we collaborate with governments and nonprofits to solve challenges like hunger, affordable housing, greater economic mobility and more.
A carefully chosen team
The key to building strong, successful relationships with customers begins with our employees. We’re committed to hiring exceptional talent from our communities, including our 2014 pledge to hire an additional 10,000 veterans, national guards and reservists in five years — a goal that we surpassed in 2020. We also pledged to hire 10,000 people from low-and moderate-income communities between 2018 and 2023, and met this goal in 2020 as well.
Employees who are passionate about their communities make excellent team members, and we support their dedication to local causes. We give our team paid time off and the flexibility to volunteer. Each year, our employees volunteer more than 2 million hours to strengthen our communities.
Ways our employees support their communities:
Building affordable housing
Improving people’s money habits
Supporting people with disabilities
Mentoring kids, women and people of color
Providing economic opportunity in underserved areas