Bank of America Announces $4.2 Million Commitment to Expand Tech Career Opportunities for Students of Color Through Innovativ...
June 16 2021 - 10:00AM
Business Wire
NPower and Urban Alliance collaborate to advance training and
job placement for high school students of color
Bank of America today announced a partnership between longtime
bank partners NPower and Urban Alliance, powered by a $4.2 million
grant split between both organizations.
The collaboration between Urban Alliance and NPower will connect
students, predominantly from communities of color, to technical
skills and jobs and aligns with Bank of America’s commitment to
advance racial equality and economic opportunity. Statistics show
that many students of color do not have access to STEM courses and
are often closed out of higher career opportunities. This effort
will empower high school students with future-proof skills to
become economically self-sufficient after graduation and access
entry-level jobs in tech or tech-adjacent fields, while supporting
employers with developing diverse, entry-level talent
pipelines.
“We recognize that early employment is critical to help young
people build the skills, networks, and experience needed to break
out of cycles of poverty and achieve long-term success,” said Kerry
Sullivan, President Bank of America Charitable Foundation.
“Bringing the collective expertise of Urban Alliance and NPower
together further demonstrates our ability to be a catalyst for jobs
in the communities we serve by preparing young people of color for
upwardly mobile jobs in tech and tech-proximate career fields.”
NPower, a national nonprofit that is committed to advancing race
and gender equity in the tech industry through skills training,
real world experience, support and mentorships, will provide
technical training to all Urban Alliance students over the next
three years, complementing Urban Alliance’s intensive soft skills
curriculum. This effort will provide 1,500+ students with
“digital-literacy” training and deeper tech certification for a
self-selected subset. Technical skill sets will open the door for
students going on to college as well as those transitioning from
high school to full time work. Bank of America has been a strong
supporter of the organization, providing entry-level opportunities
for young adults, with employees also volunteering over 4,800 hours
of their time through activities such as guest lectures.
“Young people are struggling financially, emotionally and facing
significant barriers to employment,” said Bertina Ceccarelli, Chief
Executive Officer of NPower. “We, in partnership with Urban
Alliance, and supported by our long-time partner, Bank of America,
can expand the learning pathways for high schoolers that will
position them for quality, recession-proof careers.”
In parallel, Urban Alliance will continue to build a more
equitable, diverse next-generation workforce by providing
deep-touch professional soft skills training, mentoring, and
9-month paid internships to young people, 99% of whom are from
communities of color, during their senior year of high school.
Through this collaboration, the organization will expand its
two-track offering for high school students – an experiential
internship track for students going on to college and a
high-school-to-career track for students preparing to enter
full-time work, this time in the tech industry. Bank of America’s
funding is critical to this new tech pathway, allowing the
organization to serve more students, increase their exposure to
career possibilities, and expand its employer base. Urban Alliance
has been a long-time partner with Bank of America on its Financial
Center Internship Program which introduces high school and college
students to careers in the financial industry.
“This kind of collaboration between nonprofits in the workforce
development space is rare and much-needed if we are going to make
real progress toward removing systemic barriers to economic
opportunity for youth of color,” said Elizabeth Lindsey, CEO of
Urban Alliance. “We’re grateful for Bank of America’s investment
enabling Urban Alliance and NPower to advance digital equity and
connect more diverse young talent to high-growth careers in
tech.”
Bank of America has a longstanding focus on addressing critical
societal challenges, including connecting youth to early employment
and helping individuals from low- and moderate income (LMI)
communities access jobs. Since 2018, the company has invested $160
million to connect youth and young adults to jobs, including
funding jobs with nonprofit partners and supporting skills-building
and alternative pathways. Annually, Bank of America connects more
than 4,000 high school students to work experiences each summer
though partnerships with nonprofits and mayors’ offices, a
Financial Center Internship Program and its Student Leaders
program. Through its Pathways program, the bank works with
nonprofit partners to provide professional skills training and
career pathways for members of the communities it serves. These
efforts align to the bank’s focus on advancing racial equality and
economic opportunity and are demonstrations of how the company is
working to be a catalyst for jobs in local communities.
Bank of America At Bank of America, we’re guided by a
common purpose to help make financial lives better, through the
power of every connection. We’re delivering on this through
responsible growth with a focus on our environmental, social and
governance (ESG) leadership. ESG is embedded across our eight lines
of business and reflects how we help fuel the global economy, build
trust and credibility, and represent a company that people want to
work for, invest in and do business with. It’s demonstrated in the
inclusive and supportive workplace we create for our employees, the
responsible products and services we offer our clients, and the
impact we make around the world in helping local economies thrive.
An important part of this work is forming strong partnerships with
nonprofits and advocacy groups, such as community, consumer and
environmental organizations, to bring together our collective
networks and expertise to achieve greater impact. Learn more at
about.bankofamerica.com, and connect with us on Twitter
(@BofA_News).
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
www.bankofamerica.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210616005628/en/
Reporters May Contact: Vanessa Cook, Bank of America Phone:
1.980.683.2247 vanessa.a.cook@bofa.com
Bank of America (NYSE:BAC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bank of America (NYSE:BAC)
Historical Stock Chart
From Sep 2023 to Sep 2024