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17 Former Welfare Recipients Hired at Bank of America Following Customized Training Program

17 Former Welfare Recipients Hired at Bank of America Following Customized Training Program

Published 05-01-00

Submitted by Bank of America Corporation

Seventeen of Bank of America's newest associates in Los Angeles will soon transition from welfare to work, thanks to a bank training program. Each new employee successfully completed a customized eight-week training program, and was hired into a position providing ready employment and, most importantly, an opportunity for advancement and career stability. They plan to give up public assistance in the coming months.

Bank of America offered the program, which trained the group in operating check-processing equipment, in conjunction with Goodwill Industries, the Housing Authority of the City of Los Angeles (HACLA) and the Los Angeles County Office of Education. The three non-profit organizations identified the students, provided "work/life skills" training and offer ongoing case management after employment begins. Bank of America provided the training site, curriculum, personal job counseling and a commitment to hire each person who completed the course and passed the final skill assessment.

"For the past eight weeks, we have worked closely with these 17 people to train and prepare them for full-time employment in the financial services industry," said Julie Franke, Regional Staffing Manager, Bank of America, Southern California. "Each has shown great future potential and we share their confidence that this will be a turning point in their lives."

"At the beginning of the skills training, each person was contacted by a Bank of America work/life counselor offering advice on issues that prevent some former welfare recipients from successfully transitioning to work, such as problems concerning child-care or transportation," Franke said.

She said a Bank of America expert on budgeting and financial planning also contacted each person to offer ongoing assistance.

"We have a vested interest in seeing our graduates succeed. The more support we offer to ease the transition from welfare to work, the greater the chance they have at being successful," said Franke.

Each new associate begins in an hourly position, earning between $6.95 and $8.50 an hour. As with all new hourly employees, associates have an opportunity to move to full-time status after a three-month evaluation period. Full-time jobs include a complete benefits package.

To date, 31 former welfare recipients have been hired at Bank of America in Southern California, following their participation in the bank's customized training program. The next training class will include an additional 17 welfare recipients and will begin May 9, with an expected commencement date of July 11.

Goodwill Industries International has named Bank of America the organization's 2000 Large Employer of the Year. The award honors a business that employs more than 200 people and demonstrates outstanding innovation in providing training and meaningful employment for Goodwill clients.

Bank of America, with $656 billion in assets, is the largest bank in the United States. It has full-service operations in 21 states and the District of Columbia and provides financial products and services to 30 million households and two million businesses, as well as providing international corporate financial services for business transactions in 190 countries. The company's stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges and investor information can be found at www.bankofamerica.com/investor.

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