Bank of America Provides Relief in Wake of Hurricane Katrina
September 2, 2005
Bank Contributes $1 Million to Aid Victims; Announces Disaster Relief Plan for Customers
CHARLOTTE, N.C. – Bank of America today announced a $1 million donation to aid the victims of Hurricane Katrina throughout the Gulf Coast region. In addition, Bank of America today activated several relief programs to assist customers struggling in the storm’s aftermath.
As part of the donation, Bank of America will deliver immediately $500,000 to the American Red Cross Disaster Relief Fund and $100,000 to the Houston Food Bank via the Gulf Coast United Way Katrina Relief Fund to feed 23,000 evacuees currently housed at the Houston Astrodome.
As relief efforts evolve in the coming weeks, the remaining $400,000 contribution will be directed to the areas of greatest need. In addition, Bank of America will match associate pledges through the bank’s Matching Gifts program and will not limit its overall relief donation.
“As the victims of Hurricane Katrina begin to rebuild their lives and their cities, they will need help from individuals and organizations from across our great country to succeed,” said Kenneth D. Lewis, chairman, chief executive officer and president, Bank of America. “Like all Americans, our company and our associates are humbled by the task ahead – and inspired by our country’s traditions of generosity in times of need – as we join the nation’s efforts to bring relief and hope to the communities and people of the Gulf Coast.”
Bank of America also announced that it will begin accepting public donations for the American Red Cross through its network of more than 5,800 banking centers nationwide or at www.bankofamerica.com. Starting today, banking centers will collect cash and check contributions and will forward them nightly to the American Red Cross.
Bank of America Disaster Relief for Customers
Under its disaster relief program, Bank of America customers affected by Hurricane Katrina within a federal disaster area, as designated by the Federal Emergency Management Agency (FEMA), may be able to qualify for special product and service programs.
Home Mortgages and Home Equity Loans and Lines of Credit
For homeowners with a mortgage or home equity financing, Bank of America has automatically activated the following services:
No late charges will be assessed for 90 days.
No negative credit reporting for 90 days.
A payment deferral of 90 days or three payments.
Mortgage and home equity customers may use the following phone numbers to contact Bank of America with any questions about these services. Mortgage customers may call 1.800.285.6000. Home equity customers may call 1.800.432.1000.
For Bank of America credit card customers, the following forms of assistance are available by contacting the bank using the telephone number on the back of their card:
Waive late fees, over limit fees and finance charges.
Obtain special assistance on monthly payments.
Receive emergency credit line increases on their existing Bank of America Visa® or MasterCard®.
Automobile, Boat and RV Loans
Customers impacted by Hurricane Katrina who wish to defer up to two monthly automobile, boat or recreational vehicle loan payments can call 1.800.215.6195 or their regular customer service number.
Bank of America Charitable Investments
With a $1.5 billion philanthropic goal over the next 10 years, Bank of America Charitable Investments is one of the largest corporate charitable organizations in the country. The mission of Bank of America Charitable Investments group is to deploy a targeted array of philanthropic resources that help neighborhoods grow and prosper, thereby creating thriving environments where the bank’s customers, associates and shareholders live, work and invest. For more information about Bank of America Charitable Investments, please visit the Foundation’s website at www.bankofamerica.com/foundation.
Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 33 million consumer relationships with more than 5,800 retail banking offices, more than 16,600 ATMs and award-winning online banking with more than 13 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 85 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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