Bank of America and George W. Bush Institute Announce Military Jobs Partnership
Bank of America Charitable Foundation Commits $1 Million to Build Program Focused on Economic Security for Veterans
CHARLOTTE, N.C.--(BUSINESS WIRE)-- The Bank of America Charitable Foundation today announced a partnership with the George W. Bush Institute through a $1 million grant to help fund the Military Service Initiative (MSI), which unites the efforts of individuals, businesses, nonprofits, and universities to find solutions to improve the well-being and economic security of our veterans. The partnership aligns with the company's military hiring priority being led by the Military Affairs Advisory Group, established earlier this year to assist with veterans' post-service transition and integration. In addition, Bank of America has recently invested $22 million in funding to nonprofits offering job training, education programs and support services that help connect the unemployed, underemployed, veterans, youth and those with disabilities with employment opportunities.
"Military veterans have served us, and now it's our turn to give back," said Brian T. Moynihan, chief executive officer for Bank of America. "Helping build economic security for our veterans is just one of the ways we're working to help reintegrate veterans and improve local economies across the country."
Bank of America's funding for the MSI will support the Circles of Excellence program. Launching later this year, the program will spotlight and support organizations that fulfill the needs of veterans of Operation Enduring Freedom and Operation Iraqi Freedom. The teams will be led by retired veterans, who will spearhead teams to find or create successful programs that make the greatest impact in the military community and establish a national leadership model to support our nation's heroes. They will work to improve the quality of life for retired service members and their families through an increased focus on health, wellness, education and economic prosperity. According to the U.S. Department of Labor, there are currently 833,000 veterans unemployed in the United States.
"We have a moral obligation to support our nation's veterans," said the Hon. Mark Langdale, president of the George W. Bush Foundation. "They leave home to do the work of patriots - and they lead lives of quiet dignity when they return. With the commitment of our partner Bank of America, we are sending a clear message: Thank you - and America honors your courage and sacrifice by strengthening a network of services to best support your needs."
Bank of America has a strong history of supporting service members, veterans and their families dating back more than 90 years. This year, the company launched a Military Affairs Advisory Group to coordinate efforts to support the military community through hiring, employee engagement, customer support and community outreach. Nearly 6,000 military service members and veterans work for the company, which has been recognized for its efforts to hire veterans by G.I. Jobs magazine, Military Times EDGE magazine and the Employer Support for the Guard and Reserve (ESGR). The company also offers specialized mortgage support and programs for military customers and their families, including a dedicated servicing unit. Through partnerships with nonprofit organizations, Bank of America has also donated homes to injured service members or families who have lost an active-duty loved one.
About the George W. Bush Institute
The George W. Bush Institute advances freedom through six areas of engagement: education reform, global health, economic growth, human freedom, the women's initiative, and the military service initiative The Bush Institute is the action-oriented policy arm of the George W. Bush Presidential Center, which includes the Presidential museum and library, located on the campus of SMU in Dallas. For more information, please visit www.bushcenter.org, like us on facebook.com/TheBushCenter and follow us at twitter.com/thebushcenter.
Bank of America Corporate Social Responsibility
Bank of America's commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way across more than 100 markets around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create shared value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. Reaffirming a commitment to develop and sustain a culture of service, bank employee volunteers contributed more than 1.5 million hours in 2011 to enhance the quality of life in their communities worldwide. Learn more at www.bankofamerica.com/about and follow us on Twitter at @BofA_Community.
For more Bank of America news, visit the Bank of America newsroom.
Reporters May Contact:
Nicole Nastacie, Bank of America, 1.980.388.7252
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