Bank of America has announced a $250 million commitment over the next five years to help families and individuals facing food insecurity and other basic needs across the United States. The initiative expands on the company’s existing support, which includes annual philanthropic funding for more than 1,200 organizations focused on hunger relief and related services.
As part of this new effort, Bank of America will provide $5 million to nearly 100 nonprofit organizations currently working to address urgent food needs in local communities. This funding aims to help these groups meet growing demand for their services.
Sheri Bronstein, Chief People Officer at Bank of America, said, “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 by the end of the year with organizations focused on hunger relief and essential services. The company will also match employee donations dollar for dollar to groups combating hunger in its service areas.
Bank of America serves nearly 70 million consumer and small business clients through about 3,600 retail financial centers and approximately 15,000 ATMs nationwide. It has around 59 million verified digital users. The bank operates across more than 35 countries and supports roughly four million small business households with online products and services. Its stock is listed on the New York Stock Exchange under BAC.
Reporters seeking further information can contact Carla Molina at Bank of America by phone or email.
