Bank of America Directed More Than $13 Million to Native American Communities Hardest Hit by the Coronavirus in 2020
14 Gennaio 2021 - 4:00PM
Business Wire
Funding Aided Health, Hunger, Jobs & Small
Business as Company Continues Focus on Advancing Racial Equality
and Economic Opportunity
Bank of America today announced that it directed more than $13
million in 2020 to Native American communities across the U.S.
disproportionately impacted by the coronavirus. The funds included
capital investments into Native American Community Development
Financial Institutions (CDFIs) and philanthropic grants to
nonprofits and institutions focused on meeting health, hunger and
jobs-related needs in Native American communities as part of the
bank’s overall efforts to advance economic opportunity and racial
equality. Bank of America also donated personal protection
equipment (PPE) masks, gloves and hand sanitizer to Native American
communities last year.
Among the investments were $10 million to Native American Bank,
the only national American Indian-owned community development bank
in the country, to provide capital for small businesses, affordable
housing, community facilities such as schools and healthcare
clinics, and consumer lending needs. An additional $3.1 million was
in the form of grants to nonprofits serving Native American
community needs - nearly half of these grants went to local
nonprofits in states serving some of the highest proportions of
Native Americans, including Arizona, Colorado, Oklahoma and New
Mexico.
According to National Congress of American Indians (NCAI), many
Native Americans experience lower life expectancy, lower
educational achievement levels, high unemployment rates and are
among the poorest populations in the United States. The prolonged
health and humanitarian crisis has exacerbated the need for
critical services and support for this vulnerable population.
Navajo Nation, for example, has experienced more coronavirus cases
per capita than nearly any other place in the United States, and
during the height of the pandemic the rate of infection among the
Navajo people was more than eight times the overall rate in New
Mexico alone.
“The economic needs in tribal communities continue to be a
challenge that we, as a society, need to address,” said Andrew
Plepler, Head of Environmental, Social and Governance at Bank of
America. “These challenges have been further exacerbated by the
coronavirus. There is an urgent need to invest in tribal and
native-owned small businesses, healthcare and jobs development, to
mitigate some of the enormous economic and health risks these
communities currently face.”
Organizations receiving grants include: American Indian College
Fund; First Nations Development Institute; National American Indian
Housing Council; National Congress of American Indians; Partners in
Health, in collaboration with Community Outreach & Patient
Empowerment; Our Native American Business Entrepreneurship Network
(ONABEN); Citizen Potawatomi Community Development Corp; United
National Indian Tribal Youth (UNITY); Navajo Technical University;
Mesa Community College; Denver Indian Center; Denver Indian Health
and Family Services; Indian Pueblo Cultural Center; Native American
Connections; First Nations Community Health Source; Oklahoma City
Indian Clinic; Regional Food Bank of Oklahoma; Community Food Bank
of Eastern Oklahoma; and First Nations Oweesta Corporation.
Bank of America has provided critical financial services to
Native American governments and territories for more than 60 years,
and is also the largest investor into CDFIs at $1.6 billion across
the U.S.
Bank of America At Bank of America, we’re guided by a
common purpose to help make financial lives better, through the
power of every connection. We’re delivering on this through
responsible growth with a focus on our environmental, social and
governance (ESG) leadership. ESG is embedded across our eight lines
of business and reflects how we help fuel the global economy, build
trust and credibility, and represent a company that people want to
work for, invest in and do business with. It’s demonstrated in the
inclusive and supportive workplace we create for our employees, the
responsible products and services we offer our clients, and the
impact we make around the world in helping local economies thrive.
An important part of this work is forming strong partnerships with
nonprofits and advocacy groups, such as community, consumer and
environmental organizations, to bring together our collective
networks and expertise to achieve greater impact. Learn more at
Learn more at about.bankofamerica.com, and connect with us on
Twitter (@BofA_News).
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
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www.bankofamerica.com
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version on businesswire.com: https://www.businesswire.com/news/home/20210114005612/en/
Reporters May Contact: Colleen Haggerty, Bank of America
Phone: 1.213.621.7414 colleen.haggerty@bofa.com
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