Bank of America funds 120 new Habitat homes

Bank of America announced in De-cember 2001 that it would fund the construction of 120 new Habitat for Hu-manity houses across the country to honor its former chairman and longtime Habitat supporter, Hugh McColl.

According to a Habitat press release, the multimillion-dollar commitment by Bank of America makes it the 12th company to become a Cornerstone Contrib-utor to Habitat for Humanity Interna-tional's More Than Houses campaign, an effort to raise $500 million to build 100,000 Habitat houses by 2005.

The Bank of America program, known as the McColl Habitat Project, is targeted for communities in the bank's retail-service area. The project will fund construction of one house each year for five years in 21 states and the District of Col-umbia. Bank of America also plans a 10-house Habitat project in its headquarters city of Charlotte, N.C.

"Hugh McColl is a loyal supporter of Habitat for Humanity, so it's fitting that the bank would make such a commitment in his honor," said Millard Fuller, founder and president of Habitat for Humanity International. "Because of the bank's gift, more than 100 families across the country will secure the decent, affordable homes they so desperately need."

The Bank of America program began with 2002 and will run through 2006. Bank of America officials and representatives of its foundation will meet with Habitat for Humanity leadership to select the local Habitat affiliates that will participate.

McColl retired from Bank of America earlier this year. He supported the self-help homeownership efforts of Habitat throughout his years as its chair. He was instrumental in securing local funding for the 1987 Jimmy Carter Work Project in Charlotte.

Celebrating its 25th anniversary year, Habitat for Humanity International is an ecumenical Christian ministry dedicated to eliminating poverty housing. Founded by Millard Fuller and his wife, Linda, Habitat for Humanity International and its affiliates in more than 2,000 communities in 83 nations have built and sold more than 100,000 homes to partner families with no-profit, zero-interest mortgages.