Bank of America 2012 Corporate Responsibility overview

The new Bank of America Corporate Social Responsibility report is here (*throw confetti*)!Image

We know, you might not think this is confetti worthy.  After all, how interesting can a CSR report be?  Plenty interesting when you consider that megacompanies have the capability of creating major change in some of our biggest social issues.  They have the staff, skills, and (dare we acknowledge it) the money to make a dent.  Bank of America is no slouch.

Some highlights in this year’s report:

  • Arts: 2000+ projects to give both money and volunteer time to the arts.
  • Free museum entry: Did you know you can use a Bank of America card to get free access to museums across the country?  You might remember this from our 2010 article.  You can find one near you here.
  • Purchases declined at point-of-sale if the account does not have enough funds.  On the surface this doesn’t seem like a big deal, until you consider the $35 insufficient funds fee.  Imagine buying coffee, a magazine, and a metro ticket, only to discover that you’ve been charged $35 for each.  If you’re living paycheck to paycheck, this little upgrade might be the difference between eating and not eating.
  • Hunger: employees gave 57,000 hours at food banks and other organizations
  • Nearly $60 million donated: Employees gave $29.5 million, which was matched by B of A and distributed among nearly 20,000 organizations.

Bottom line:

Bank of America has a working employee engagement program and is clearly making an impact on the national community.  We’d love to see them improve the value of their projects by providing more skilled volunteer work, such as increasing their women’s mentoring program.  We’d also suggest greater engagement in mutual-benefit partnerships (here’s a great how-to by Jeff Hoffman of Jeff Hoffman and Associates).

Bank of America has made huge strides in just a few years.  What they’ve done is worthy of note and honor, and we can’t wait to see where they go from here.

This post was written by our Founder Annalee Shelton, who is not ashamed to admit she reads full CSR reports.  Photo credit: Bank of America.

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