BofA Celebrates 20 Years of Paid Summer Internship Program - Student Leaders

Rhea-AI Summary

Bank of America is celebrating 20 years of its Student Leaders® program, a signature philanthropic initiative that provides paid summer internships to high school juniors and seniors. Since 2004, the program has:

• Placed 4,500 students in internships across nearly 100 communities
• Partnered with over 500 local nonprofits
• Invested $42 million in youth workforce development

The program aims to prepare a diverse pipeline of young adults for success in the modern workforce by offering early work experience, leadership skills, and financial education. Many former participants have gone on to become leaders in various fields, including business, nonprofit sector, and even politics. The program culminates in a leadership summit in Washington, D.C., fostering networking and learning opportunities for participants.

Prestigious Program Has Provided 4,500 Students with Work Experience, Leadership Skills to Help Build Future Careers

WASHINGTON, July 24, 2024 /PRNewswire/ -- Bank of America is celebrating two decades of helping prepare the next generation of the nation's workforce for skilled, high-demand careers through its signature philanthropic program, Student Leaders^® (#BofAStudentLeaders). Launched in 2004, the program connects service-minded high school juniors and seniors to eight-week paid summer internships with local nonprofits to gain early work experience and leadership skills. With these internships often representing the students' first paychecks, the teens also receive financial education coaching through Bank of America's Better Money Habits^® platform.

As the workplace continues to rapidly evolve and new career opportunities develop, Bank of America recognized early on the need to prepare a diverse pipeline of young adults for success in the modern workforce. Over the program's 20 years, the bank has placed 4,500 students across nearly 100 communities into paid internships at more than 500 local nonprofits – representing a $42 million investment into youth workforce development.

Many of these student interns continued to make an impact long after their internships ended, becoming leaders in business as CEOs, heads of nonprofits, authors, medical professionals, teachers and even the first Gen Z Member of Congress.

"By providing career and leadership development opportunities to teens for 20 years, Bank of America continues to help develop the next generation of skilled workers that is essential to America's long-term workforce and economic growth," said AJ Barkley, Head of Corporate Social Responsibility (CSR), Bank of America. "The Student Leaders program has – and will continue to have – a tremendous impact and longevity because of the inspiring young people and nonprofit partners at the heart of the program."

The capstone of the annual program brings current Student Leaders to Washington, D.C. for a leadership summit to build strong peer networks, hear from proven business, government and community leaders, learn about cross-sector collaboration and participate in community service activities.

Bank of America
Bank of America is one of the world's leading 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 approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters May Contact:
Carla Molina, Bank of America
Phone: 1.832.283.2681 
carla.molina@bofa.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/bofa-celebrates-20-years-of-paid-summer-internship-program--student-leaders-302205394.html

SOURCE Bank of America Corporation

FAQ

What is Bank of America's Student Leaders program and when did it start?

Bank of America's Student Leaders program is a paid summer internship initiative for high school juniors and seniors that began in 2004. It provides early work experience and leadership skills by placing students in internships with local nonprofits.

How many students has BAC's Student Leaders program supported over 20 years?

Over its 20-year history, Bank of America's Student Leaders program has placed 4,500 students into paid internships across nearly 100 communities.

What is the financial investment made by BAC in the Student Leaders program?

Bank of America has invested $42 million into youth workforce development through its Student Leaders program over the past 20 years.

What additional benefits do participants in BAC's Student Leaders program receive?

Participants in Bank of America's Student Leaders program receive financial education coaching through the bank's Better Money Habits platform and attend a leadership summit in Washington, D.C.

How has BAC's Student Leaders program impacted participants' future careers?

Many former participants of Bank of America's Student Leaders program have become leaders in various fields, including CEOs, heads of nonprofits, authors, medical professionals, teachers, and even the first Gen Z Member of Congress.