Bank of America was founded in California more than 100 years ago on the principle of giving back, and today has made this a key part of its approach to responsible growth. The bank’s strategy for giving goes beyond philanthropic capital to providing pro bono expertise and empowering its employees to volunteer locally in their communities. In Orange County, Bank of America awarded $1.2 million in grants to local nonprofits in 2017 and offers its 4,800 employees two hours of paid time off every week to volunteer with local charities and causes, totaling 46,000 volunteer hours in 2017 alone. The bank invests in the development of nonprofit leaders through its Neighborhood Builder program and the next generation of leaders through its Student Leader program. It is also very committed to delivering a financial education through its Better Money Habits curriculum and certified volunteers. All these efforts helped Bank of America become #2 of 50 companies in Fortune’s most recent list of Best Workplaces for Giving Back.
“We work with local nonprofits to bring economic stability to individuals and communities based on a model of shared success, which means we are not successful until our communities are successful.” – Allen Staff, Orange County market president, Bank of America.