CHARLOTTE, N.C., Nov. 30, 2021 /PRNewswire/ -- Bank of
America announced today that it has directed more than $17 million to support Native American
communities since the onset of the pandemic. Funding includes
capital investments and philanthropic grants to nonprofits and
institutions providing services to Indigenous communities as part
of the bank's effort to advance racial equality and economic
opportunity through its $1.25
billion, five-year commitment.
"Through investments in Native American communities, we are
working to connect Indigenous people to opportunities that will
help them build stability and a more successful future," said
Andrew Plepler, global head of
Environmental, Social and Governance (ESG), Bank of America. "We
recognize that more needs to be done, and we continue to explore
partnerships and expand our commitment to invest in Native
American-owned small businesses, jobs development, and critical
needs."
In 2020, the company recognized the disproportionate impact of
the health crisis and directed more than $13
million to Native American communities across the U.S.,
including $10 million in capital to
Native American Bank, a community development financial institution
(CDFI) providing funding for small businesses, affordable housing,
community facilities, and consumer lending needs. The company also
donated personal protection equipment (PPE) including over 1
million masks, 222,000 gloves, and hand sanitizer to Native
American communities.
Today, in observance of Native American Heritage Month, the
company announced an additional $4.7
million in funding to support nonprofit partners working to
address critical needs in Native American communities. This
includes philanthropic grants to 39 nonprofits and institutions
providing critical services to Indigenous communities.
Investments entail $3.3 million in
grants to national and local nonprofits focused on meeting health,
hunger, workforce development, small business and entrepreneurship
needs in Native American communities. Many of Bank of America's
longstanding partners that address needs related to housing and
community revitalization have also received funding, including
First Nations Development Institute, the National Congress of
American Indians, the National American Indian Housing Council
(NAIHC), and First Nations Oweesta.
Bank of America is also expanding its partnership with the
American Indian Higher Education Consortium (AIHEC) and education
company EAB to support student success, financial sustainability,
and ongoing institutional transformation at 37 tribal colleges and
universities. Lastly, the company is launching a $1 million, four-year partnership with Water
First in Canada to support access
to clean drinking water in Indigenous communities, which includes
training young Indigenous adults for a career in water science.
Additional organizations receiving 2021 grant funding include:
American Indian College Fund; Citizen Potawatomi Community
Development Corporation; Community Food Bank of Eastern Oklahoma; Community Outreach &
Patient Empowerment (COPE); Native American Connections; New Mexico
Foundation; Our Native America Business Entrepreneurship Network
(ONABEN); Regional Food Bank of Oklahoma; United National Indian Tribal Youth
Inc. (UNITY); and others.
Bank of America has provided critical financial services to
Native American governments and territories for more than 60 years,
and is equally committed to supporting its Native American
employees. Founded in 2003, Bank of America's Native American
Professional Network (NAPN) aids in the recruitment, retention and
career development of Native Americans, Alaskan Natives and
Hawaiian Natives at Bank of America, growing membership more than
80% in the past five years. Members actively promote financial
education in Native American territories and communities, help
raise awareness of Native business opportunities and cultural
issues, and support Bank of America's business strategy of
enlarging its profile in Native American communities.
Bank of America
At Bank of America (NYSE: BAC), 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. Connect with us
on Twitter (@BofA_News).
For more Bank of America news, including dividend announcements
and other important information, register for news email
alerts.
Reporters May Contact:
Vanessa
Cook, Bank of America
Phone: 1.980.683.2247
vanessa.a.cook@bofa.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/bank-of-americas-native-american-support-tops-17-million-since-2020-301433759.html
SOURCE Bank of America Corporation