A Decade and a Half of Impact: The Latin American Association and Bank of America's Enduring Partnership

In the heart of Atlanta, a partnership has been quietly transforming lives and empowering communities for over 15 years. The Latin American Association (LAA) and Bank of America have joined forces to create sustainable change and support the local Latino and Hispanic community, demonstrating the power of collaboration between non-profit organizations and corporate entities.

A History of Support

Since 2008, Bank of America has been a steadfast supporter of the LAA, contributing an impressive $735,000 over the past 16 years. This long-term commitment speaks volumes about Bank of America’s dedication to creating lasting impact in Atlanta’s diverse communities.

But the partnership goes far beyond financial support. Over the years, several Bank of America executives have served on the LAA’s board, bringing their expertise and insights to guide the organization’s strategic direction. Notable among these are Johanna Velasquez, vice president and private client manager with Bank of America Private Bank, and Joe Araoz, CFA managing director, Business Support executive at Bank of America Private Wealth Management. Their involvement at the leadership level underscores Bank of America’s deep commitment to the LAA’s mission and the Latino community in Atlanta.

“Bank of America’s partnership has been transformative for the LAA and the Latino community we serve. Their financial support, combined with the strategic guidance of executives like Johanna Velasquez and Joe Araoz on our board, has amplified our impact significantly. Through initiatives like Unidos in Finance, Bank of America is helping us change the narrative around Latino potential in the financial sector. This partnership goes beyond philanthropy—it’s a shared commitment to creating a more inclusive and prosperous Atlanta where Latinos are recognized as vital contributors to our economic success.” – Santiago Marquez, LAA, CEO

One of the most impactful collaborations between the LAA and Bank of America is the Unidos in Finance program, possible through a partnership with UnidosUS since 2019. This innovative initiative creates a hiring pipeline that connects talented Latino professionals with career opportunities in the banking industry. The program, part of the LAA’s Workforce Development efforts, offers an eight-week training course designed to prepare participants for entry-level and middle-level positions in banking.

Unidos in Finance goes beyond just job placement. It equips participants with essential financial concepts and job readiness skills, setting them up for long-term success in the banking sector. This program exemplifies how the LAA and Bank of America are working together to not only provide immediate employment opportunities but also to foster career growth and financial empowerment within the Latino community.

Neighborhood Builders: A Catalyst for Growth

In 2019, the LAA received a significant boost when it was recognized as one of its prestigious Neighborhood Builders by Bank of America. This honor included a $200,000 grant and also included a comprehensive package designed to strengthen the organization from within:

A year of leadership training for the LAA’s executive director and an emerging leader of our choice
Access to a network of peer organizations across the United States
Opportunities to access capital for expanding the LAA’s impact

This investment in leadership and organizational capacity has undoubtedly contributed to the LAA’s ability to serve our community more effectively. The Latino Workforce Development Initiative: Empowering Through Employment Most recently, Bank of America has continued its support by providing a grant for the LAA’s Latino Workforce Development Initiative. This project is at the heart of the LAA’s mission to empower Georgia’s Latino communities, particularly those facing economic challenges.

“Partnering with the Latin American Association is one of the ways we are advancing economic mobility in Atlanta and helping to strengthen our local economy,” said Al McRae, president, Bank of America Atlanta. “Investing in Atlanta nonprofits demonstrates how Bank of America is taking action to provide the resources and support needed to help build thriving communities long-term.”

The initiative offers a comprehensive suite of services, including:

Job readiness workshops
Industry-specific job training
Corporate recruitment events
Career expos
ESL classes
Computer skills and literacy classes
Latina Entrepreneurship program: ¡Avanzando Juntas!

These programs are designed to prepare Latinos for workforce entry, help them advance in their careers, improve English language fluency, and enhance computer skills. The initiative serves over 3,300 individuals each year, making a significant impact on the economic landscape of Atlanta’s Latino labor force.

A Shared Vision for Atlanta’s Future

Bank of America’s partnership with the LAA aligns perfectly with its commitment to creating sustainable change in Atlanta. By supporting the local Latino and Hispanic community through the LAA, Bank of America is investing in the future of a rapidly growing demographic that plays an increasingly important role in Georgia’s economic health.

With nearly 13% of Atlanta’s population identifying as Latino, and over one million Latinos across Georgia, the LAA’s work is more critical than ever. Bank of America’s continued support helps ensure that the Latino community has the resources and opportunities they need to thrive. Together, the LAA and Bank of America are not only changing lives but also contributing to the overall economic health of Atlanta and the state of Georgia.

As the Latino population in metro Atlanta approaches 13%, the need for targeted support and empowerment programs has never been greater. The LAA, with Bank of America’s backing, is at the forefront of addressing this need, working tirelessly to reduce the 20% poverty rate among Latinos in Georgia.

Looking Ahead

As we look to the future, the partnership between the Latin American Association and Bank of America stands as a shining example of what can be achieved when corporate responsibility meets community-driven action. With continued support and collaboration, this partnership promises to create even more opportunities for Atlanta’s Latino community, fostering a more inclusive and prosperous city for all.

The story of the LAA and Bank of America is more than just a tale of financial support; it’s a testament to the power of long-term commitment, shared values, and the belief that by lifting up our most vulnerable communities, we elevate our entire society. As this partnership enters its next chapter, the future looks brighter than ever for Atlanta’s Latino community.