Stay Informed!

Contact:

Nov 14, 2008

CFED Announces Bank Of America As Sponsor Of 2008 Assets Learning Conference

CFED Announces Bank Of America As Sponsor Of 2008 Assets Learning Conference

Contact: Kristin Lawton, CFED, 202.408.9788

Largest Conference Focused on Asset Building for Low-income Americans

Washington. D.C. — The Corporation for Enterprise Development (CFED) announced that Bank of America is the initial Platinum Sponsor of its upcoming national conference. Featuring the theme, ADVANCING AMERICA’S ASSETS AGENDA, the biennial conference will draw 1,200 attendees on September 11 – 13, 2008 to the Hyatt Regency Crystal City just outside of Washington, DC near Reagan National Airport.

“Bank of America is an important strategic partner for CFED,” said Andrea Levere, CFED President. “Our national conference is a powerful opportunity for leaders from all sectors – public, private and community – to discuss the best ways to improve financial security for Americans during this time of rising concern about home foreclosures and economic vulnerability.”

CFED’s national conference is the largest convening of the asset-building field. It will include dozens of plenary sessions with prominent speakers and work sessions to explore topics in depth. The previous conference was held in Phoenix, AZ in September 2006 with Wilma Mankiller, first female chief of the Cherokee Nation, as a keynote speaker.

“The Corporation for Enterprise Development is a leader in expanding economic opportunities for low and moderate income Americans,” said Andrew Plepler, Bank of America Charitable Foundation President. “We are delighted to be a major sponsor of their 2008 Assets Learning Conference. Bringing together leading thinkers and practitioners with a mission to achieve greater impact and innovation will benefit communities across the country.”

The Conference will bring a large and diverse attendance to Washington, DC during the critical run-up to the Presidential election, when attention is likely to be increasingly focused on the national economic picture and how growing income and wealth disparities are affecting average Americans.

“We believe America’s economic vitality, stability and security are greatly strengthened when more and more of our people are able to invest in their futures and hold a stake in their communities,” added Levere. “The Conference, and Bank of America’s support, will help to focus attention on the need to strengthen the capacity of low- and middle-income families to own homes, businesses and pursue college education. These are keys to investing in our people and in our economy.”

Earlier this year, the Bank of America Charitable Foundation provided a $500,000 grant to enable CFED to intensify its educational outreach, community development and research. It will also strengthen CFED’s efforts to build cross-sector consensus on the best ways to help more Americans, especially those of low and moderate income, to accumulate savings, build wealth and invest.

CFED was a pioneer in asset building even before it became a recognized field of economic and community development. Founded in 1979, the nonprofit specializes in creating effective, enduring ways for asset-poor people to reach and prosper in the economic mainstream. Central to CFED’s success is its emphasis on partnering with the corporate sector, opening untapped markets, pointing the way to new products and services, and building business-to-business bridges.

CFED’s business model meshes the best community practices with private markets and public policy. At the national, state and local levels, initiatives and joint ventures focus on increasing access to the keys to upward mobility—higher education, home ownership, business formation and saving for the future. Currently, lead-off items on CFED’s roster of successful innovations include:

Individual Development Accounts – Matched investment accounts that help low-income families save their way to more secure futures. SEED Initiative – Matched savings accounts and financial education that give children the tools they need to Save for Education, Entrepreneurship and Downpayments. Microenterprise – Small business formation with start-up support that raises the skills and incomes of millions, particularly women head-of-households, Native Americans and rural residents.

CFED is based in Washington, DC, with offices in Durham, NC and San Francisco, CA. www.cfed.org

Bank of America Corporate Philanthropy Bank of America has embarked on an unprecedented 10-year goal to give $1.5 billion to nonprofit organizations engaged in improving the quality and vitality of their neighborhoods. The Bank of America Charitable Foundation will give more than $200 million in 2007, making the bank one of the most generous corporate donors in the world. Bank of America approaches giving through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of individual communities. Through Team Bank of America, bank associate volunteers contribute more than 500,000 hours each year to improve the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please visit www.bankofamerica.com/foundation