NASHVILLE, Tenn., May 10, 2010 /PRNewswire via COMTEX/ -- Bank of America today announced it will activate its disaster relief program in 42 Tennessee counties (Chester, Clay, DeKalb, Hardin, Jackson, Lauderdale, Lawrence, Lewis, Macon, Stewart, Trousdale, Wayne, Benton, Carroll, Crockett, Cheatham, Davidson, Decatur, Dickson, Dyer, Fayette, Gibson, Hardeman, Haywood, Henderson, Hickman, Houston, Humphreys, Madison, Maury, McNairy, Montgomery, Obion, Perry, Robertson, Rutherford, Shelby, Smith, Sumner, Tipton, Williamson and Wilson) all currently designated disaster areas by the Federal Emergency Management Agency.
Additional counties in Tennessee will be added to the Disaster Relief Program if they are deemed eligible for Individual Assistance by FEMA.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b ) The Bank of America Charitable Foundation also announced it will donate $50,000 to the relief effort, providing $25,000 each to the American Red Cross Disaster Relief Fund and Second Harvest Food Bank of Middle Tennessee. The funds will be used to provide food, shelter and other support to families in counties impacted by severe storms, flooding, high winds and tornadoes. On those rare occasions when donations exceed Red Cross expenses for a specific disaster, contributions are used to prepare for and serve victims of other disasters.
"We are committed to working with community partners to provide the much needed support to those affected by the significant damage caused by the severe rainfall and flooding," said John Stein, Tennessee president, Bank of America.
"As residents and neighbors to those impacted, it is incumbent on us to provide support during this time of need." Under the company's disaster relief program, Bank of America customers affected by severe storms and floods in the aforementioned Tennessee counties may qualify to: Receive emergency credit line increases on their existing Bank of America Visa(R) card and MasterCard(R).
Modify or extend payments on loans, credit cards or lines of credit.
Receive special assistance with lost, missing or late loan or card payments.
Access a new home equity loan or increase an existing home equity line of credit through the bank's special loan program offering preferential pricing below the current rate.
Avoid early withdrawal penalties on bank certificates of deposit (CDs).
Small businesses may also qualify for similar benefits on both business and personal loans.
Customers may apply for assistance under the program through June 21, 2010, in any Bank of America banking center or by calling 1.800.831.5586. For assistance with a credit card account, customers may call the phone number on the back of the card or on a bank statement. Offers are subject to credit approval and current credit standards apply. A deposit or loan relationship may be required to qualify for a special loan offer. Insurance is required for mortgage and home equity loan products. These offers cannot be used in combination with other offers, and certain restrictions may apply. Tax penalties may still apply to IRA withdrawals before age 59 1/2. Bank of America, N.A. is an equal housing lender and a member of the FDIC.
Bank of America Corporate Philanthropy Building on a long-standing tradition of investing in the communities it serves, last year Bank of America embarked on a ten-year goal to donate $2 billion to nonprofit organizations engaged in improving the health and vitality of their neighborhoods. Bank of America approaches giving through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of individual communities. Bank associate volunteers contributed more than 800,000 hours in 2009 to enhance the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please visit www.bankofamerica.com/foundation.
Bank of America 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 approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
American Red Cross The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies nearly half of the nation's blood; teaches lifesaving skills; provides international humanitarian aid; and supports military members and their families. The Red Cross is a charitable organization -- not a government agency -- and depends on volunteers and the generosity of the American public to perform its mission. For more information, please visit www.redcross.org or join our blog at http://blog.redcross.org.
Reporters May Contact:
Christina Beyer, Bank of America, 1.813.230.8499
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