Bank of America
In 1930, as the nation was rocked by the Great Depression, the partnership between Bank of America and the Trust was just beginning. Today, with economic hardship on a similar scale, Bank of America and the Trust still stand together to pull the community through.
In partnership with the Trust, Bank of America is supporting community-based efforts to fight home foreclosures. Through a $35 million neighborhood preservation package of grants and loans, they provide relief for families struggling to keep their homes.
“Working hand in hand with community foreclosure prevention counselors is critical,” says Bank of America’s Illinois president, Timothy P. Maloney. “This is one of the most pressing issues we face. The rich and deep history of the Trust allows it to nimbly answer the needs of our citizens.”
Bank of America’s community improvement efforts extend beyond housing. In 2009, the Bank of America Foundation allocated $20 million to its Neighborhood Excellence Initiative, which recognizes nonprofit organizations, local heroes and student leaders working to revitalize their communities in 45 of the bank’s major markets, including Chicago.
“As bedrocks of the nonprofit community, financial institutions have demonstrated the benefit of working to help Chicago area citizens by partnering with the Trust. The Trust is at the forefront of understanding community needs and determining strategies to address those needs."
Learn more about the Trust’s fight against foreclosures