Bank of America Fights the Housing Crisis With a $40,000 Grant to Build More Affordable Housing
As one of our strongest partners in the battle to provide affordable housing in the San Gabriel Valley, Bank of America has given $40,000 to support Habitat’s mission in the San Gabriel Valley.
This grant comes at a time when the housing crisis in California has never been worse – with over 3 million units of housing required to satisfy resident needs. Coupled with the cost of living, this forces 1 in 5 families in the state to pay well over 50% of their income in housing costs alone – leaving them to choose between paying for the roof over their heads and other essentials, like medical care, nutrition, and transportation.
Bank of America’s commitment to alleviate the housing crisis through affordable homeownership is a long-lasting relationship that brings much needed funds to the organization. In addition, Bank of America team members regularly participate as Habitat volunteers – creating a deep personal connection to not only the homes they help build, but the communities they improve.
“There is no doubt the pandemic impacted affordable housing in our Los Angeles communities, exacerbating underlying economic and social disparities that already existed. Supporting the nonprofit sector as it continues to experience unprecedented demand to help vulnerable populations is more important than ever,” said Christine Bogharian, Global Risk Testing Executive, Bank of America. “Our long-time partnership with Habitat in the San Gabriel Valley is one way Bank of America is helping to advance economic progress for local families through homeownership.”
Our more than 10-year partnership is a perfect example of how organizations can impact the communities they serve through philanthropy and volunteer efforts. Thanks to Bank of America, more families will be able to achieve their own American Dream through the power of homeownership.