Bank of America has announced a $250 million commitment over the next five years to support families and individuals facing food insecurity and other basic needs across the United States. The initiative will expand on the company’s existing philanthropic efforts, which currently provide annual funding to more than 1,200 organizations focused on hunger and related issues.
As part of this new pledge, Bank of America will distribute $5 million to nearly 100 nonprofit organizations that are working to address urgent food needs for individuals and families. The goal is to help these organizations respond to increasing demands at the local level.
Sheri Bronstein, Chief People Officer at Bank of America, stated, “Our ongoing commitment to the needs of the local communities where we work and live is foundational to who we are at Bank of America. We work closely with food banks, food pantries, and other basic needs-focused organizations every day, and this new commitment builds on decades of giving, volunteering, and partnership.”
In addition to financial support, Bank of America employees plan to volunteer more than 100,000 hours through the end of the year with organizations dedicated to hunger relief and other essential services. The company will also match employee donations dollar for dollar to groups fighting hunger in its service areas.
Bank of America serves nearly 70 million consumer and small business clients in the U.S., operating approximately 3,600 retail financial centers and about 15,000 ATMs. It also offers digital banking services used by around 59 million verified users. The institution supports roughly 4 million small business households with various online products and services and operates in more than 35 countries worldwide.
For further information or media inquiries, contact Carla Molina at Bank of America by phone at 1.512.397.2402 or via email at carla.molina@bofa.com.