Largest initiative to date will mobilize nearly 2,800 bank volunteers across 10 countries to help address the need for affordable housing.
This October, Bank of America and Habitat for Humanity will launch the sixth annual Global Build, a week-long initiative between long-time partners Bank of America and Habitat to support affordable housing and revitalization projects in vulnerable communities. Since the first Global Build in 2014, Bank of America and its employees have worked with families to help them achieve homeownership or make critical home repairs.
Meeting the need for safe, affordable, sustainable places to live remains a significant challenge globally. In fact, the United Nations has prioritized sustainable cities and communities as one of its Sustainable Development Goals. In the United States alone, increased housing costs are outpacing growth in incomes for low- and moderate-income households; according to property data provider ATTOM Data Solutions, 70 percent of Americans cannot afford a home in 70 percent of the country.
"Access to affordable housing is one of the most limiting factors for families in every part of the world when it comes to economic stability," said Julie Davis, vice president, corporate partnerships and cause marketing at Habitat for Humanity International. "That's why global efforts like the one spearheaded each year by Bank of America make a real difference."
Over the course of one week, Oct. 5-12, more than 2,800 #BofAVolunteers will help families tackle the challenge of obtaining affordable housing and together build a decent place to call home with projects across 108 communities across Australia, Canada, Hong Kong, India, Indonesia, Japan, Korea, Singapore, South Africa, and the U.S. The broader goal of the Global Build is to promote better work- and education-related outcomes and advance the long-term health of communities.
"We recognize how essential affordable housing is for families in order to advance along the economic continuum," said Kerry Sullivan, president of the Bank of America Charitable Foundation. "Our longstanding partnership with Habitat has been a demonstration of how capital deployed alongside employee volunteers can have exponential impact."
Habitat and Bank of America have partnered for more than 30 years, with nearly $80 million in funding invested from the bank's charitable foundation and 40,000 volunteer hours from employees annually, ranging from board service to home build initiatives and financial literacy training. Bank of America's focus on affordable housing and homeownership is rooted in the company's purpose to make financial lives better and it addresses affordable housing and homeownership in a holistic and innovative way through its business, partnerships, and by supporting the communities it serves.
About Habitat for Humanity
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org
About 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 about.bankofamerica.com
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