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Bank of America and Habitat for Humanity 'Raise the Walls' on Three New Habitat Houses in Amarillo

Three-day building blitz part of the bank's most recent $6 million commitment to Habitat for Humanity International

Wednesday, October 8, 2008 8:08 am EDT

Dateline:

AMARILLO, Texas

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NYSE:
BAC
"We're grateful not only for the resources that will substantially impact our work, but also for the enthusiasm with which Bank of America associates display through volunteering, ultimately making the joy of homeownership a reality for this working family"

More than 50 Bank of America associate volunteers and Amarillo Habitat for Humanity will join together to build three new Habitat homes in Amarillo over the next three days. The effort reflects a longstanding commitment by Bank of America to create opportunities that enrich the lives of families throughout the region, and the fifth consecutive year the bank has selected a Texas community in which to build three homes simultaneously.

The homes, funded by the Bank of America Charitable Foundation's most recent commitment to Habitat for Humanity International, will be located on Terry Street in the Whittington Addition #1 development. The three families are required to complete a combined 1,500 'sweat equity' hours building other families' houses as well as their own.

"Bank of America is pleased to further Habitat's efforts in our community and to provide affordable housing for working families like the Gibsons, Matthews and Medellins," said Carolyn Balzar, Amarillo president, Bank of America. "Creating more affordable housing is imperative in Texas and in communities across the country. Bank of America has partnered with Habitat for Humanity for the past 20 years, and I am thrilled our team is here today to help make these families' dreams a reality."

Announced last year, the Bank of America Charitable Foundation continued its support of Habitat for Humanity International with a $6 million donation to increase the nonprofit's capacity to provide quality, affordable housing for families worldwide. Habitat for Humanity will utilize the funds to support their general operations as well as finance home construction and renovation for families around the world.

"We're grateful not only for the resources that will substantially impact our work, but also for the enthusiasm with which Bank of America associates display through volunteering, ultimately making the joy of homeownership a reality for this working family," said Steve Smart, executive director, Amarillo Habitat for Humanity.

What began 20 years ago as a home sponsorship program has become an expanded and multifaceted partnership. Under former Bank of America Chairman and CEO Hugh McColl Jr.'s leadership, a commitment to Habitat turned the Jimmy Carter Work Project into a 14-house "blitz build" in Charlotte and the first worldwide House Raising Week. The Bank of America Charitable Foundation has donated more than $14 million to home-building efforts with Habitat for Humanity International since 2002. The corporation has also given $600,000 to Operation Home Delivery, Habitat's hurricane recovery project. In addition, Bank of America associates contribute more than 25,000 volunteer hours annually to Habitat for Humanity home builds across the country.

"We are thrilled to have all of the Texas Team Bank of America volunteers here and appreciate all their sweat equity and the bank's larger commitment to helping create vibrant communities across Texas," said Debra McCartt, mayor, City of Amarillo. "The partnership between Amarillo Habitat for Humanity and Bank of America is a true demonstration of how public-private partnerships can make our community a wonderful place to live, work and play."

Bank of America Corporate Philanthropy

Building on a long-standing tradition of investing in the communities it serves, Bank of America will embark in 2009 on a new, ten-year goal to donate $2 billion to nonprofit organizations engaged in improving the health and vitality of their neighborhoods. Funded by Bank of America, the Bank of America Charitable Foundation gave more than $200 million in 2007, making the bank the most generous financial institution in the world and the second largest donor of all U.S. corporations in cash contributions. Bank of America approaches giving through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of individual communities. Through Team Bank of America, bank associate volunteers contributed more than 650,000 hours in 2007 to enhance the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please visit http://www.bankofamerica.com/foundation.

Amarillo Habitat for Humanity

Amarillo Habitat for Humanity, Inc., an Affiliate of Habitat for Humanity International, is a nonprofit organized to perform the essential community purpose of building and selling to low income families decent housing in a decent neighborhood community.

 

Contact:

For Bank of America
Bianca Olson, +1-781-559-0433,
bianca.olson@rfbinder.com
Web site: http://www.bankofamerica.com/
http://www.bankofamerica.com/foundation
or
Amarillo Habitat for Humanity
Cody Hamilton, +1-806-383-3456 or +1-806-570-5983
cody.hamilton@amahfh.org