The Bank of America Charitable Foundation today announced a partnership with the George W. Bush Institute through a $1 million grant to help fund the Military Service Initiative (MSI), which unites the efforts of individuals, businesses, nonprofits, and universities to find solutions to improve the well-being and economic security of our veterans. The partnership aligns with the company’s military hiring priority being led by the Military Affairs Advisory Group, established earlier this year to assist with veterans’ post-service transition and integration. In addition, Bank of America has recently invested $22 million in funding to nonprofits offering job training, education programs and support services that help connect the unemployed, underemployed, veterans, youth and those with disabilities with employment opportunities.
“Military veterans have served us, and now it’s our turn to give back,” said Brian T. Moynihan, chief executive officer for Bank of America. “Helping build economic security for our veterans is just one of the ways we’re working to help reintegrate veterans and improve local economies across the country.”
Bank of America’s funding for the MSI will support the Circles of Excellence program. Launching later this year, the program will spotlight and support organizations that fulfill the needs of veterans of Operation Enduring Freedom and Operation Iraqi Freedom. The teams will be led by retired veterans, who will spearhead teams to find or create successful programs that make the greatest impact in the military community and establish a national leadership model to support our nation’s heroes. They will work to improve the quality of life for retired service members and their families through an increased focus on health, wellness, education and economic prosperity. According to the U.S. Department of Labor, there are currently 833,000 veterans unemployed in the United States.
“We have a moral obligation to support our nation’s veterans,” said the Hon. Mark Langdale, president of the George W. Bush Foundation. “They leave home to do the work of patriots - and they lead lives of quiet dignity when they return. With the commitment of our partner Bank of America, we are sending a clear message: Thank you – and America honors your courage and sacrifice by strengthening a network of services to best support your needs.”