Bank Of America Pledges $10M To Historically Black Johnson C. Smith University To Expand Its Business Programs

The banking institution has pledged $10 million to one of the leading private liberal arts Historically Black Colleges and Universities (HBCUs) in the South.

According to a press release, the funds are a part of Bank of America’s Mayor’s Racial Equity Initiative in the Charlotte, NC region. It includes a $1.25 billion five-year commitment to create more economic opportunities and push racial equality within local communities.

In an official statement, Kieth Cockrell, President of Bank of America Charlotte, said: “Our long-term relationship with JCSU has set the foundation for this critical moment – a collective partnership among the public and private sectors working to eliminate existing barriers by providing unique opportunities to JCSU students.”

The gift will help expand the school’s business department programs and develop graduates who are prepared for the jobs of the future.

The funds will also be used to drive innovation in the development of entrepreneurs in their quests to create generational wealth and break through the limits that have been placed on their move up the ladder of economic mobility.

JCSU President Clarence D. Armbrister said: “Because of strong financial services institutions like Bank of America, Charlotte is now the nation’s second-largest financial services hub.

“Therefore, it is imperative for JCSU to have strong academic programs to supply talent to Bank of America and others in the region in areas such as banking, finance, fintech, and entrepreneurship.”