Bank of America expands Hurricane Harvey relief efforts

Bank Of America Building

Bank of America has announced that mobile financial centers and mobile ATMs have been sent to the greater Houston area to supplement local financial centers that continue to reopen in the region impacted by Hurricane Harvey and its aftermath.

To date, 48 of the bank’s 100-plus area financial centers have reopened, and additional centers will open to assist customers on Saturday, Sept. 2. As the recovery continues, the bank will determine specific areas of need for mobile financial assistance.

In addition, the company is matching employee donations through an internal program, with the minimum amount eligible for matching lowered to $1 from the standard $25 in response to the crisis. To date, bank employees have donated $457,000, matched dollar for dollar by the company for a total of $914,000. Those funds will be distributed to charities selected by the donating employees.

That amount is in addition to $1 million in relief funding provided by the Bank of America Charitable Foundation, with $250,000 directed through the American Red Cross Disaster Relief Fund and the remainder to be allocated as the company learns more about specific recovery needs.

“The outreach from teammates across the company who are eager to support the Hurricane Harvey recovery effort is overwhelming,” Bank of America CEO Brian Moynihan said in a note to employees.

“We are activating our resources to bring relief to the individuals, families, customers and communities that will continue to be impacted by the unprecedented challenges Harvey is creating across the region,” said Hong Ogle, Houston market president for Bank of America. “We are humbled and heartened by the outpouring of support.”

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts