I think it is absolutely disgusting the bank wants you to record your volunteer hours on events that have nothing to do with Bank of America and are done on your own free time. I think it reeks of sc-mbag tactics so the bank can get some fake credit for some probable financial benefit or attention from regulators. I volunteer a lot for my kids on my own time. I absolutely refuse to connect Bank of America with it, and really surprised it’s even legal for the bank to push for such a thing…
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I record volunteer time to earn grants for the organizations I support and because I take my 8 hours of paid volunteer time each month. To each their own I guess.
Obviously, no one has heard of the CRA. Community Reinvestment Act. It requires banks to give back, via volunteer hours, business support and loans, in all geographical areas that the bank does business in. Recording your hours allows the Bank to meet this requirement.
To comply with CRA requirements, your bank must strengthen LMI communities through lending, investment, and service. Effectively tracking employee volunteer hours will pay off when your bank is evaluated based on its service in your community.
The Federal Reserve credits banks for volunteer hours that meet CRA criteria, so you need to have a solution in place to track the results of all of your volunteer efforts. This includes everything from financial literacy programs, to fundraising activities, to board memberships.
@bf+1jvcy8c32 probably meant Self-serving for associates who use it for visibility, job promotion.
Self-serving for the Bank? Yes.
But they do match your VOLUNTEER HOURS with real $$$ to the non-profit.
That could mean an extra $250-$500 for a non-profit.
So, heck yea I do it every year -- not for the d-mbazz Presidential Award -- but to help the charities I care about. Maybe think twice on this one folks...
But let's face, there are associates that use volunteerism to promote themselves, not the cause. They chase those hours so at the end of the year, they get their presidential awards. It's self-serving. LOL!
I have told you mutherfockas before that this bank doesn't give a rats azz about you. This bank is being run by a CEO that only cares about his raise that puts him over 30 million a year plus. All he does is have these fake azzz town hall meetings and goes on CNBC talking about how good shlit is here at this shlithole bank. I am just half azzing my job every day until something better comes along.
I volunteer 2x a week at my local cat rescue and I absolutely do not tell the bank. I don't need them up my a-s about recording hours especially when I'm not doing it during work hours they aren't giving the rescue anything for it and i definitely don't need the fake a-s recognition. Only thing I'll record hours for are if I'm doing a virtual events so I can do during work to give myself an extra hour break or so.
It is disgusting.
I once went to a facility that helps underprivileged folks with their daily needs. It was a really cool facility but I thought that we were actually going to get a chance to VOLUNTEER.
The program was about 2 of the 4 hours we were "scheduled" to be volunteers through the banks system, and was nothing more than a guided tour of the facility. There was no actual practical volunteering of any kind.
Sure enough, afterward, the person who arranged the "volunteering" made sure to remind us to record our "volunteer" hours.
One of the most disgusting moments in my career at BofA. So yes, you're right. That is what it is all about. All of those hours roll up to the investor relations thing where they proudly say "our associates have done blah blah hours of community service"