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February 10 2005

Bank of America Funds Leading Financial Education Program to Benefit Youth in the Metro Atlanta Area

ATLANTA, GA – February 10, 2005 - To increase the reach of Banking on Our Future, Operation HOPE’s (OHI) financial literacy program, Bank of America has announced a $50,000 grant to benefit youth in the Metro Atlanta Area. 

In addition, during 2005, Bank of America will launch, among its associates, a volunteer teaching program to educate hundreds of youths living in this area in basic principals of personal finances.

OHI’s Banking on Our Future program is an on the ground and online financial literacy program, which includes 12 program offices in Oregon, California, Illinois, Washington D.C., Georgia, Massachusetts, Maryland, Virginia, Pennsylvania, and New York.  Since its inception this program has educated over 140,000 youths nationwide in financial literacy. Banking on Our Future, winner of the Oprah’s Angel Network award and the U.S. Treasury Department’s John Sherman Award for financial literacy excellence, is America’s only national urban delivery platform for financial literacy in the country.  Using a growing network of 2,000 trained HOPE Corps volunteers, the Banking on Our Future program teaches four core modules, about the basics of banking; how to open and maintain a checking and savings account; the power of credit; and basic investments.

“We are very pleased to be part of this important program,” said Gene Godbold, Bank of America Georgia president, “OHI is making a significant impact on the youth in many areas of the country and we applaud them for this effort.”

"We are very excited about Bank of America joining OHI’s financial education efforts in Atlanta to strengthen the pioneering work of Banking on Our Future.  As  Bank of America community investment initiatives run parallel to our organization’s economic empowerment agenda, we are looking forward to a long and fruitful partnership to benefit this community ," said OHI founder, chairman and chief executive officer, John Bryant.

Bank of America Foundation
The Bank of America Foundation is one of the largest corporate foundations in the United States. In 2004, the Foundation contributed more than $108 million in cash to nonprofit organizations across the country. And in 2005, the Foundation began an unprecedented $1.5 billion 10-year philanthropic goal.    

The priorities for community investment in Atlanta are:  economic and community development with an emphasis on financial growth initiatives, home ownership, affordable housing; work force development; education with an emphasis on K-12 core curriculum education; and Arts and Culture.