Bank of America Expands Veteran Support with $350K Grant to ACP
Bank of America announced a $350,000 grant to American Corporate Partners (ACP) to fund 250 one-on-one mentorships for veterans and military spouses over the next year, in honor of the U.S. 250th anniversary. The partnership builds on the company’s long-standing veteran hiring initiatives, including a goal to bring on 10,000 more veterans and military-connected individuals in the next five years. Since 2015, Bank of America has hired more than 20,000 veterans and remains one of the largest corporate employers of former service members.
ACP’s mentorship program has supported nearly 40,000 veterans and spouses nationwide, with participants earning an average post-mentorship salary of around $90,000 and boasting an 80% retention rate—well above the national veteran retention average of 56%. Through this new funding, veterans will receive personalized career guidance, networking opportunities, and introductions to employment pathways across industries, including finance, logistics, and technology.
In addition to this new grant, Bank of America continues to expand its veteran support ecosystem through housing donations, community partnerships, and its internal Military Support & Assistance Group, which now includes 43 chapters and 22,000 members. The company’s ongoing investment in post-service success demonstrates the measurable impact of corporate-nonprofit collaborations in supporting veterans’ long-term stability and career advancement.