Council's efforts to focus largely on affordable housing and economic
development for community revitalization across the U.S.
CHARLOTTE, N.C., Sept. 22 /PRNewswire/ -- Bank of America today announced
the establishment of a 24-member National Community Advisory Council (NCAC),
comprised of nationally prominent leaders in community development, to address
critical issues affecting affordable homeownership, economic development and
the revitalization of the nation's distressed and under-served communities.
The Council, made up of public- and private-sector leaders including two
mayors of large urban areas, will provide external perspective and advise the
bank on programs and services to help ensure its continued leadership in
community development.
"Our goal is to lift up traditionally under-served American communities,"
said Bank of America Chairman and CEO Ken Lewis, "and we do that by
contributing financial, intellectual and leadership capital. As our nation's
leading community development bank, we are in a unique position to bring
together dedicated leaders to foster collaborative thinking and advance our
collective efforts in neighborhood revitalization. By pooling our knowledge
and working together, we can and will make a dramatic difference in the
communities we serve."
The following 24 Council members have agreed to serve two-year terms,
beginning in October 2005:
Lee Beaulac, SVP/Director, Housing, Rural Opportunities, Inc.,
Rochester, NY
Gordon Chin, Executive Director, Chinatown CDC, San Francisco, CA
Martin Eakes, President/CEO, Self-Help Venture Funds, Durham, NC
Rev. Dr. Floyd Flake, Senior Pastor, Allen AME Church, New York, NY
Carol Galante, President/CEO, Bridge Housing Corporation,
San Francisco, CA
Mary Houghton, President, Shorebank Corporation, Chicago, IL
Carlton Jenkins, Partner, Yucaipa Corporate Initiatives Fund,
Los Angeles, CA
Patrick Lee, Vice President, Trinity Financial, Boston, MA
David C. Lizarraga, President/CEO, TELACU, Los Angeles, CA
Frances Martinez-Myers, Chair, National Association of Hispanic
Real Estate Professionals, Phila., PA
The Honorable Thomas M. Menino, Mayor, City of Boston, MA
Harriet R. Michel, President, National Minority Supplier Development
Council, New York, NY
Terri Y. Montague, President/COO, Enterprise Foundation, Washington, DC
Phil Morrow, President, South Bronx EDC, New York, NY
Janet Murguia, President/CEO, National Council of La Raza, Washington, DC
Sister Lillian Murphy, President/CEO, Mercy Housing, Inc., Denver, CO
Nicholas Retsinas, Director, Joint Center for Housing/Harvard University,
Cambridge, MA
Lisa Richter, Fund Advisor, National Community Investment Fund,
Chicago, IL
Michael Rubinger, President/CEO, Local Initiatives Support Corporation
(LISC), New York, NY
Tony Salazar, President/West Coast Operations, McCormack/Baron/Salazar,
Los Angeles, CA
The Honorable Antonio Villaraigosa, Mayor, City of Los Angeles, CA
Ken Wade, CEO, NeighborWorks America, Washington, DC
Darren Walker, Director, Working Communities Division, Rockefeller
Foundation, New York, NY
Sheena Wright, President & CEO, Abyssinian CDC, New York, NY
The establishment of the National Community Advisory Council is part of
the bank's overall strategy to surface and address critical community
development issues on a national and local level and to maintain its
leadership in providing financial products and services for community
revitalization. In addition to advising on broad strategies for impacting
whole communities, the Council will provide valuable external perspective on
the bank's efforts to lend and invest $750 billion for community economic
development over the next 10 years. This nationwide goal - one of the largest
in the history of U.S. commercial banks - officially began in January 2005 and
represents an aggressive expansion of the previous community development
pledge of Bank of America. For additional information on the $750 billion
Community Development Goal, go
to http://www.bankofamerica.com/newsroom/press/pdfs/750billion3.pdf.
"We have always relied on our numerous community partners and strategic
alliances across the country to provide a critical connection on local and
national issues affecting community development," said Doug Woodruff,
Community Development executive, Bank of America. "We are excited to have now
a formal process to help surface these issues and guide our planning and
performance."
The inaugural meeting of the NCAC will take place in October of this year
and is expected to meet twice each year going forward.
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
16,700 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.
http://www.bankofamerica.com
SOURCE Bank of America
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