Expansion Further Demonstrates High-Tech, High-Touch Approach to Client Service
Bank of America today announced it has opened its first financial centers in Kentucky. The opening of three centers in Lexington brings retail banking, lending and small business services to local clients, along with investing and personalized financial guidance from Merrill. In addition to these newly-opened centers, Bank of America has added 20 ATMs in the Lexington area over the last two years, bringing its total to 27 ATMs across the state. The company plans to add a fourth financial center in Lexington next year, and is considering additional centers as well.
“Bank of America has been serving clients in Kentucky for over 40 years through Merrill Lynch Wealth Management, lending to and supporting the growth of local businesses, and through active involvement in the communities we serve,” said Felicia Lewis, regional executive for expansion markets at Bank of America. “Our new financial centers enable us to deliver high-tech, high-touch service and a full range of capabilities that can help to further enhance the financial lives of our clients.”
Clients in Kentucky also have access to Bank of America’s digital capabilities, which were recently ranked #1 by J.D. Power. The bank’s digital leadership had also been recognized with more than 170 awards over the past three years, serving more than 52 million digital clients’ banking, lending and investing needs.
The company’s first financial centers in Lexington are located at Hamburg Place at 1808 Alysheba Way; North Park at 520 W New Circle Road; and The Summit at Fritz Farm at 4023 Finn Way. The new financial centers showcase the latest technology, private offices to assist clients one-on-one, and on-site specialists including financial solutions advisors, lending officers and small business bankers who work as one team to understand a client’s unique priorities and goals, and to provide personalized guidance.
Since 2016, Bank of America has invested nearly $1.5 million in greater Kentucky through grants to local nonprofits, employee matching gifts and scholarship programs. As part of its financial center openings in Lexington, employees have volunteered with local organizations, and the bank will make additional grants to God’s Pantry Food Bank and Habitat for Humanity Lexington.
“We are proud to expand our financial center network into Kentucky, creating destinations focused on building lifelong relationships and further delivering for local clients and communities,” said Aron Levine, president of Preferred and Consumer Banking & Investments at Bank of America. “This is the latest example of the ongoing expansion of our financial center and ATM network, designed to serve more clients in communities across the country.
Bank of America recently announced that it would raise its minimum wage to $25 an hour by 2025, up from $20 an hour today. The company also subsidizes approximately 75% of employee health care costs, which means Kentucky-area employees will be eligible for the company’s benefits that have an average value of almost $17,000. The firm also offers matching 401(k) contributions of up to 5%, and an annual company contribution of up to 2% of pay after one year with the company.
“We are committed to being a great place to work, which means investing in the teams who serve our clients every day,” added Levine. “That includes providing strong pay and competitive benefits to our employees and their families – helping us to attract and retain top talent.”
Bank of America has been recognized by a number of external organizations, including LinkedIn and Fortune, as the only financial services company included in Fortune’s “Best Big Companies to Work For” list for three consecutive years.
Bank of America is one of the world’s leading 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 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,700 lending centers, 2,600 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,400 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 40 million active users, including approximately 31 million mobile users. Bank of America is a global leader in wealth management, 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 households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Diane Wagner, Bank of America
Andy Aldridge, Bank of America