The bank is looking for its employees to have better living conditions.
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Drew Angerer / Getty Images
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Bank of America announced that more than 200 of its corporate and business clients in the United States, representing nearly three million employees, have adopted its Corporate Employee Banking and Investing program.
Introduced in early 2020, this program was created to help large and midsize businesses better support the everyday banking, lending, and investment needs of their employees and help improve the overall financial well-being of your workforce.
“Corporate Employee Banking and Investing is a powerful solution that extends workplace financial wellness programs beyond education and benefit plans, getting right to the heart of helping employees manage and improve your daily financial lifesaid Aron Levine, president of Preferred Banking at Bank of America.
“We are pleased with the early adoption among our corporate and business customers, and the feedback they have shared about the positive impact the program is having on their workforce.”
“We are proud to support our colleagues and their families with comprehensive benefits and participation in this program is another way of doing that,” said Jennifer Berres, director of human resources for HCA Healthcare. “This association helps provide our colleagues with affordable banking servicesincluding lower fees, so they can better pursue their personal financial goals.”
According to Bank of America’s 2021 Workplace Benefits Report, 95% of employers feel a sense of responsibility for the financial well-being of their employees.
The study found that employers are expanding wellness programs in the workplace beyond retirement planning to address a broader range of financial issues.
The report noted that 45% of employers now offer support for developing good financial habits, up from 39% in 2020, and 42% offer access to financial products or services, up from 33% in 2020.
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