Local Impact Fact Sheet For Richmond

Victor Branch

President, Bank of America Richmond

Bank of America invests locally to make this a great place to live, work and do business. We provide solutions for businesses; support local institutions focused on income creation, stable housing and advancing economic opportunity; and support our local arts and culture for a thriving Richmond.

1,920

Local
employees
125K

Local employee
volunteer hours
(since 2020)
$9.8M

Philanthropic
giving
(since 2020)
19

Locations
supporting clients
$72.1M

Loans to small
businesses*(Credit extended to businesses that generally have annual revenues of less than $5 million)
$1.5B

Loans to
commercial
businesses**(Credit extended to businesses that generally have annual revenues of $5 million to $2 billion)

Key Partnerships

Being a Great Place to Work

We strive to be a Great Place to Work for our employees by providing access to a broad range of opportunities to achieve their professional goals and by maintaining a culture of caring for them and their families.

Our local teammates have access to free, confidential counseling through our Employee Assistance Program and support in the moments that matter most through our industry-leading Life Event Services Team.
We recognize teammates celebrating certain career milestones with paid time away through our sabbatical program.

Improving access to basic needs

All thriving communities start with meeting the individual basic needs of its members. That means ensuring certainty when it comes to health and food.

We’re creating greater access to healthcare through innovative programs, including our $40M commitment in low-cost, long-term capital to finance the development and expansion of community health centers and other primary care facilities across the U.S.
We’re helping to fight hunger here in Richmond through our partnerships with local organizations like Feed More.

Providing access to livable-wage jobs

We're committed to building a strong workforce to help individuals improve their financial lives and ensure a thriving economy.

We invest in partners like ChamberRVA, Greater Richmond Partnership, and Virginia Gateway Region in support of workforce development and job creation.
Our 1,300+ trained Community Education Ambassadors deliver free professional skills workshops across the U.S., and our on-demand content provides career readiness skills to the communities we serve.

Delivering industry-leading capabilities through technology

Innovation is at the heart of all we do. We provide digital capabilities that improve our clients’ financial lives.

We’re harnessing digital demand with over 58M verified online and mobile users, and a record 14.3B logins in 2024.
Erica^®, our artificial intelligence (AI)-based virtual financial assistant, has recorded over 2.5B interactions since the tool’s introduction.
We continue expanding our digital capabilities, serving over 206K digitally active local clients.

Awards

One of the

World's Most Admired
Companies (2025)

by
Fortune
Financial Health Support -
Banking & Payments (2024)

Certified by
J.D. Power
Top 10 most
JUST companies (2025)

by
JUST Capital