Bank of America Announces Environmental Home Equity Program

CHARLOTTE, N.C., April 11 /PRNewswire/ -- As part of its $20 billion, 10- year environmental initiative announced last month, Bank of America is launching the first of its environmentally sustainable products, an innovative donation program for new home equity customers.

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Between now and December 31, customers who open a new Home Equity Line of Credit, register for the program, and use their equity line Visa(R) access card for combined purchases of $2,500 or more, will be eligible to direct a one-time $100 donation to Conservation International, a U.S.-based international environmental organization. Each $100 donation will offset the impact from energy use in the average household for one year, as well as support efforts to restore and protect tropical forests.

"We are dedicated to making positive changes to protect the environments where our customers and associates live and work," said Home Equity Executive David Rupp. "This unique home equity program allows Bank of America, under the proactive direction of our customers, to make an important contribution to a leading environmental organization."

New Home Equity customers can go to http://www.bankofamerica.com/greenoffer to register for the program, or go to http://www.bankofamerica.com/environment to learn more about Bank of America's environmental commitment.

"Our research has indicated that many customers are using home equity loans and lines of credit to make home improvements that increase energy efficiency," Rupp said. "This program will enable customers to not only boost energy conservation at home but also drive environmentally sustainable efforts around the globe."

In March, Bank of America announced a $20 billion, 10-year initiative to support the growth of environmentally sustainable business activity to address global climate change. Bank of America's ten-year initiative encourages development of environmentally sustainable business practices through lending, investing, philanthropy and the creation of new products and services.

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 more than 55 million consumer and small business relationships with more than 5,700 retail banking offices, through more than 17,000 ATMs and award-winning online banking with more than 21 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Bank of America Corporation stock is listed on the New York Stock Exchange.