Virginia Union University Receives $1M Grant from Bank of America
Virginia Union University (VUU) has announced it is the recipient of a $1 million grant from Bank of America for its innovative approach to preparing students for careers in the financial industry. VUU’s new Workforce Development and Financial Markets Program is called “MORE” which stands for My Opportunity is Real Essential.
“As we strive to better serve our students and surrounding communities, it is imperative that we provide them with the tools to be successful beyond the classroom,” said Dr. Hakim J. Lucas, President and CEO of VUU. “We are pleased to accept this grant from Bank of America to launch the MORE program, which will allow us to bring financial literacy tools to communities who may not have access otherwise. This workforce development initiative is a stepping stone on the path to generational wealth within our communities.”
The MORE program has three key components:
“We are excited to partner with Bank of America on this innovative program to build a workforce pipeline for the financial industry, as well as to educate young children and adults about the importance of financial literacy, financial markets, and managing wealth,” said Dr. Robin R. Davis, Dean of the Sydney Lewis School of Business.
The grant from Bank of America is a component of the “Way Forward Initiative” – a multi-year collaboration between education firm EAB and the bank – and is part of the bank’s $1.25 billion, five-year commitment to advance racial equality and economic opportunity. Virginia Union University is an inaugural cohort of the initiative.
“HBCUs play a vital role in creating opportunities for students and communities of color by providing education needed to address economic and social inequality,” said Victor Branch, Bank of America Richmond President. “At Bank of America, we believe it is essential that these institutions receive the support they need to continue in their mission.”
The Sydney Lewis School of Business will lead this initiative and has partnered with Virginia Union University’s Workforce Development division and the Evelyn Reid Syphax School of Education.
Virginia Union University is a premier liberal arts institution and publicly serving HBCU with recognition as a private institution through the State Council of Higher Education for Virginia. Founded in 1865, Virginia Union University was originally established to give newly emancipated slaves an opportunity for education and advancement. Today, the University is a center for excellence focusing on preparing and developing today’s students to become advanced leaders of tomorrow. Virginia Union University’s programs offer a broad range of both undergraduate and graduate educational opportunities in high-demand fields that advance liberal arts education, teaching, research, science, technology, civic engagement, and international experiences. Visit www.vuu.edu for more information.
At Bank of America, 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.
Erika Roache, Virginia Union University
Matt Card, Bank of America