Community Development

Community Development
In order for communities to thrive, they need a stable housing base. To help achieve this, we are helping customers in need of housing assistance. We do this through our outreach efforts, business activities, philanthropic giving and nonprofit partnerships, including home retention, homeownership and affordable housing options. In fact, since 2009 we’ve participated in more than 800 outreach events, meeting over 125,000 customers and have opened 50 Customer Assistance Centers in 25 states for customers to meet face-to-face with our representatives.


The Bank of America Charitable Foundation recently awarded $22 million in grants to more than 650 nonprofits addressing housing needs across 34 states.  Funding will help build and rehabilitate affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services intended to revitalize neighborhoods and help working families find and keep suitable homes. In addition, we partner with nearly 600 HUD-approved nonprofit organizations to educate and counsel homebuyers, helping them understand the benefits and responsibilities of home ownership. We also focus on the revitalization of low- and moderate-income communities through our philanthropic efforts and creation and preservation of affordable housing, vibrant retail and commercial options across the U.S. As part of this commitment, through our Community Development Banking business we provided more than $1.6 billion to help create more than 12,000 affordable housing units for individuals with special needs, families, seniors and veterans in 2011.