Bank of America announced a $350,000 grant to American Corporate Partners (ACP). This grant supports 250 mentorships for veterans and military spouses in honor of America’s 250th birthday.
Moreover, ACP is a nonprofit dedicated to helping veterans and military spouses transition to meaningful civilian careers. The mentorship program provides one-on-one guidance on career planning, networking, and professional growth.
Additionally, the grant will fund mentorship and career support over the next year. Bank of America emphasizes economic growth while honoring military service.
Furthermore, BofA first partnered with ACP in 2018. Since then, nearly 200 employees have participated in 400 mentorships, helping dozens of individuals join the bank.
In addition, this expanded partnership builds on BofA’s plan to hire 10,000 more veterans and military-background individuals over the next five years. The company has hired 20,000 such employees since 2015.
According to Meghan Hughes, Head of Workforce Development at Bank of America, “Veterans and military spouses bring invaluable skills, leadership, and resilience. Expanding this partnership invests in their future while supporting American economic growth.”
Meanwhile, Sid E. Goodfriend, Founder and Chairman of ACP, said, “America’s 250th birthday is a time to honor service. True honor requires action. Veterans’ talent is often diminished by underemployment. Bank of America’s mentorship commitment is vital. It transforms lives, dismantles barriers, and equips military families with personalized guidance for professional success.”
Importantly, ACP’s mentorship program has supported nearly 40,000 veterans and spouses nationwide. Participants report an average post-mentorship salary of $90,000 and an 80% retention rate, compared to 56% nationally.
Furthermore, the grant will support mentorship opportunities across all industries, including potential employment at Bank of America. The bank also contributes to veteran housing needs, donating more than 6,500 residential properties since 2012, with over 2,700 going to nonprofit organizations supporting military families.
Finally, BofA maintains a Military Support & Assistance Group with 43 chapters and more than 22,000 members nationwide. Veterans and others interested in ACP mentorship opportunities can learn more and sign up using Bank of America code “BACACP.”
