Bank of America Awards $2.2 million to Silicon Valley Community Partners in 2021
Submitted by Cheryl Reiss
Stories Matter
San José, Calif. – As part of its commitment to strengthening communities by addressing critical needs that help advance racial equality and economic opportunity, Bank of America awarded a total of $2.2 million to local nonprofits across Silicon Valley in 2021.
Bank of America’s local giving was directed towards health, jobs, small business support and affordable housing. Second Harvest of Silicon Valley, LifeMoves, Destination Home, JobTrain, NPower, Latino Business Action Network and The Housing Trust of Silicon Valley are some of the community partners receiving support last year.
In addition to philanthropic capital, Bank of America donated nearly one million pieces of personal protective equipment including masks, gloves, and hand sanitizer to non-profit partners in the region. Bank employees volunteered over 10,000 hours locally.
“While the pandemic has taken a significant toll on every person, there’s no doubt it has had a disproportionate impact on the communities already grappling with the effects of economic and social inequality. The private sector has a responsibility to provide support that can serve as a catalyst to help advance equity and economic opportunity for everyone,” said Raquel González, President, Bank of America Silicon Valley.
As an essential business, Bank of America also invested in the health and economic stability of its own teammates in 2021 by raising its minimum hourly pay to $21 as a next step in the company’s plans to increase hourly pay to $25 by 2025.
