Bank of America 2002 Annual Report Download - page 15

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We’re working to ensure that all of our customers have access to the products and services they
need to participate fully in the economic life of their communities. We communicate with our customers
in dozens of languages and extend our reach to them through strategic alliances with community-based
organizations and advertisements in ethnically targeted publications.
SafeSend™
, our cross-border money transfer service, helps customers avoid wiring costs by using
stored value cards when sending money to family or friends in Mexico. This enables us to tap into the
estimated $12 billion U.S.-Mexico money transfer industry. We recognize the Matricula Consular or
Mexican Consulate ID as identification verification, making it easier for new immigrants to obtain financial
services. And our pending investment in a 24.9% stake in Grupo Financiero Santander Serfin, Mexico’s
third-largest bank, will provide greater opportunities to better serve our customers with ties to that country.
Increasing minority home ownership continues to be a major focus for Bank of America. We’re
a leader in helping minority borrowers become homeowners, ranking third nationally in most recent
competitive reports. Minority borrowers represent a greater share of our total mortgage originations
than our peers. Through alliances with organizations such as
the National Urban League, NAACP, National Council of La Raza,
ACORN Housing Corporation and numerous financial partners
and housing organizations, we’re expanding access to mortgage
financing, home ownership counseling and other money
management information.
Our Asian-American customers benefit daily from our
bilingual retail service through more than 175 Asian-language
banking centers.
America’s diversity adds great richness to the fabric of our
communities. It’s in our dreams for good homes, quality education
for our children and economic security where we find our
common ground.
The story of America is a story of ethnic and cultural diversity. Our tradition of serving America’s
immigrant and minority communities provides us a competitive edge in continuing to serve an increas-
ingly diverse customer base. For us, doing so is a business imperative. Ethnic markets are projected
to drive population growth in our markets this decade. We believe we’re well positioned to lead them.
13
BANK OF AMERICA 2002
We’re working to ensure that all of our customers have access to the products and services they
need to participate fully in the economic life of their communities. We communicate with our customers
in dozens of languages and extend our reach to them through strategic alliances with community-based
organizations and advertisements in ethnically targeted publications.
SafeSend™
, our cross-border money transfer service, helps customers avoid wiring costs by using
stored value cards when sending money to family or friends in Mexico. This enables us to tap into the
estimated $12 billion U.S.-Mexico money transfer industry. We recognize the Matricula Consular or
Mexican Consulate ID as identification verification, making it easier for new immigrants to obtain financial
services. And our pending investment in a 24.9% stake in Grupo Financiero Santander Serfin, Mexico’s
third-largest bank, will provide greater opportunities to better serve our customers with ties to that country.
Increasing minority home ownership continues to be a major focus for Bank of America. We’re
a leader in helping minority borrowers become homeowners, ranking third nationally in most recent
competitive reports. Minority borrowers represent a greater share of our total mortgage originations
than our peers. Through alliances with organizations such as
the National Urban League, NAACP, National Council of La Raza,
ACORN Housing Corporation and numerous financial partners
and housing organizations, we’re expanding access to mortgage
financing, home ownership counseling and other money
management information.
Our Asian-American customers benefit daily from our
bilingual retail service through more than 175 Asian-language
banking centers.
America’s diversity adds great richness to the fabric of our
communities. It’s in our dreams for good homes, quality education
for our children and economic security where we find our
common ground.
The story of America is a story of ethnic and cultural diversity. Our tradition of serving America’s
immigrant and minority communities provides us a competitive edge in continuing to serve an increas-
ingly diverse customer base. For us, doing so is a business imperative. Ethnic markets are projected
to drive population growth in our markets this decade. We believe we’re well positioned to lead them.
13
BANK OF AMERICA 2002