BofA steps up hurricane relief efforts
Bank of America has announced that it will direct $1 million in funding from its charitable foundation to aid victims of Hurricane Irma. Of the total, $250,000 will go to the American Red Cross Disaster Relief Fund; the remainder will be allocated following an assessment of recovery needs, a press release said.
Additionally, the FI has deployed mobile financial centers and mobile ATMs to the region affected by Irma. Locations for these mobile capabilities will be determined once areas of need are identified.
Also, as with Hurricane Harvey relief efforts, the company is matching employee donations through an internal program. To date, bank employees have donated $754,000 for both relief efforts, matched dollar for dollar by the company for a total of more than $1.5 million.
Bank of America previously announced $1 million in Hurricane Harvey relief funding, for a total to date of more than $3.5 million in collective commitment from the company and its employees related to the two storms, the release said.
BofA previously dispatched mobile financial centers and mobile ATMs to the greater Houston area, where only about half of its permanent financial centers had reopened as of last Tuesday.
"We will do all we can to continue to assist the communities and our customers experiencing the devastating effects of these hurricanes," BofA Chairman and CEO Brian Moynihan said in the release.