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Bank of America Commits Its Resources to Organizations Serving Those Impacted by Drought

Monday, March 17, 2014 9:00 am EDT

Dateline:

Sacramento
"With major relief efforts still months from delivery, we are thrilled that Bank of America has stepped in to support an immediate response."

As California experiences its worst drought in modern history, leading to anticipated increases in agriculture-related unemployment and rising food prices, Bank of America is committing its resources to the California Association of Food Banks, Feeding America network and local United Ways as they provide critical services to communities that may be hardest hit.

With food banks and other front-line organizations expecting a significant increase in demand for services, Bank of America is providing more than $500,000 in philanthropic support to nonprofits in the Central Valley and Central Coast regions. In addition, the company will mobilize its extensive network of employee volunteers, many of whom call the area home, to work with these organizations and others.

Bank of America will also make available its Customer Assistance Program to help individuals and families experiencing financial hardship due to the drought. Assistance may include refunds or waivers of fees related to deposits, credit cards, and home loans, as well as home loan repayment assistance. Requests are handled on a case-by-case basis. Customers in need of assistance should contact Bank of America at 1.800.432.1000.

“We’re using our reach and resources to help address what could be an unprecedented challenge,” said Janet Lamkin, Bank of America California state president. “From philanthropy to engaging our network of employee volunteers, we’re leveraging our platform to help our partners in a time of need.”

“California Association of Food Banks is pleased to be working in partnership with Bank of America to address the urgent and unprecedented need facing California’s farming communities today,” said Sue Sigler, executive director, California Association of Food Banks. “With major relief efforts still months from delivery, we are thrilled that Bank of America has stepped in to support an immediate response.”

 

Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 50 million consumer and small business relationships with approximately 5,100 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

California Association of Food Banks
The mission of California Association of Food Banks is to build a well-nourished California.  To accomplish this mission, its membership of 40 food banks focuses on increasing the visibility of hunger and its solutions, assisting Californians in accessing food assistance and nutrition programs, distributing fresh produce through the Farm to Family program, and influencing public policy at the state and federal level. Find out more at http://cafoodbanks.org/.

Visit the Bank of America newsroom for more Bank of America news.

www.bankofamerica.com

 

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Reporters May Contact:
Colleen Haggerty, Bank of America, 1.213.621.7414
colleen.haggerty@bankofamerica.com