Bank of America today announced that it is directing $1 million in funding from the Bank of America Charitable Foundation to aid the victims of Hurricane Irma, including $250,000 to the American Red Cross Disaster Relief Fund, with the remainder to be allocated when an assessment is completed regarding specific recovery needs.
Consumer and Small Business clients affected by Hurricane Irma in FEMA-designated disaster areas in Florida may be eligible for financial assistance. The bank will contact clients directly with details. The bank has deployed mobile financial centers and mobile ATMs to supplement local financial centers in the region. Decisions regarding specific locations for those mobile capabilities will be finalized when areas of extended need have been identified.
As it did with its Hurricane Harvey relief efforts, the company is matching employee donations through an internal program, with the minimum amount eligible for matching lowered to $1 from the standard $25. To date, bank employees have donated $754,000 for both relief efforts, matched dollar for dollar by the company for a total of more than $1.5 million.
The company previously announced $1 million in Hurricane Harvey relief funding, for a total to date of more than $3.5 million in collective commitment from the company and its employees related to the two storms.
"We will do all we can to continue to assist the communities and our customers experiencing the devastating effects of these hurricanes,” said Bank of America Chairman and CEO Brian Moynihan.
For the most up-to-date information on open/closure status of a nearby financial center or ATM, Bank of America customers with cellular and/or internet access can use the following links:
In addition, the bank has created separate, dedicated assistance lines for its retail, U.S. Trust, and Merrill Lynch customers and clients impacted by Hurricanes Irma and Harvey:
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 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 34 million active users, including 23 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 owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.