BofA report finds 64% of women want menopause-specific benefits

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Bank of America published Break Through the Stigma: Menopause in the Workplace(PDF), a new report revealing half of peri- and post-menopausal women (51%) report menopause has negatively impacted their work life, yet only 14% believe their employers recognize the need for menopause-specific benefits. The under-recognized need for menopause-specific benefits comes as 20% of the workforce is in some phase of menopause transition ¹ and the number of post-menopausal women is expected to reach 1.1 billion by 2025 globally.

“Right now, there are millions of women suffering in silence – trying to simultaneously manage menopause symptoms, stigma and their careers,” said Lorna Sabbia, Head of Retirement & Personal Wealth Solutions at Bank of America. “With this report, we are addressing the issue head-on by bringing awareness to the challenges and identifying actions for employers. Our goal is to help women of all life stages comfortably and confidently bring their best selves to work.”

The report, which surveyed 2,000 female workers and 500 benefit managers on menopause and its impacts in the workplace, uncovered there is room for employers to better support women in this life stage. The report was developed in partnership with the National Menopause Foundation, a foundation committed to providing women with the information and resources they need to thrive during their journey to and through menopause.

Disconnects Between Employers and Female Employees

While 76% of HR benefit managers say they discuss menopause with their employees, only 3% of peri- and post-employees say they have talked about menopause with HR, revealing a significant disconnect between the two groups. In addition, while 71% of employers have a positive perception of their company’s culture toward menopause, only 32% of women employees share that same perspective.

The number one reason employers say they do not offer menopause-specific benefits is that employees have not asked for them. Among employers who say they offer menopause-specific benefits, top benefits include access to menopause health professionals (40%), menopause policies such as time off or flexible work arrangements (38%), and hormone replacement therapy coverage by health insurance plans (38%). However, less than 1-in-3 women are aware of available benefits and only 1-in-10 use them.

When it comes to addressing the impact of menopause on the workplace, employers see the responsibility equally split between employees (49%) and employers (51%). However, female employees see the responsibility to be more on themselves (70% vs. 30%).

Menopause-Specific Benefits Create Better Workplaces

Nearly two-thirds (64%) of women want menopause-specific benefits. In fact, when benefits are offered, 58% of women report they have had a positive impact on their work, mostly by allowing them to bring their best selves to work (40%). Female employees are also likely to feel more comfortable talking about menopause in the workplace when they have access to menopause-specific benefits.

Additional support from employers can impact female employees’ overall perception of the workplace. Employees feel more inclined to recommend their employer as a great place to work when menopause-specific benefits are available (83% vs. 69%), revealing an opportunity for employers.

“Menopause is a normal life stage in women’s lives, yet there is still a need and opportunity for workplaces to enhance their menopause policies and benefits,” said Claire Gill, founder of National Menopause Foundation. “We hope this research will inspire employers to create cultures that reduce stigma and foster better communication.”

Impact of Menopause

Top symptoms peri- and post-menopausal employees report experiencing include impacts to their sleep (45%), mental health/mood (30%), physical health (20%), relationships with family/partner (20%), ability to focus on work (17%), daily activities (15%) and even career progression (9%).

Despite millions of employees experiencing menopause each year, stigmas around the topic persist. The majority of women (60%) consider menopause to be stigmatized, with 58% of peri- and post-menopausal women reporting they don’t feel comfortable discussing their menopausal symptoms at work. Most women (80%) consider the topic to be too personal to discuss, but other concerns include:

32% fear being perceived as old.
28% are embarrassed to talk about their body.
23% do not want peers to treat them differently.
18% fear not being respected by male peers.

More findings, including actionable steps for employers, are available in the Bank of America Break Through the Stigma: Menopause in the Workplace (PDF) report.

Break Through the Stigma: Menopause in the Workplace Methodology

These are the findings of two polls conducted by Ipsos between February 21 and March 8, 2023. The first was conducted among a sample of 500 human resource benefit decision makers from companies that have at least 1,000 employees. No post-hoc weights were applied to the data and findings reflect the opinion of these respondents. The second was conducted among 2,000 women ages 40-65 that are employed full-time at a company with 1,000 or more employees and have had a menstrual cycle. Both surveys were conducted online in English in the continental U.S., Alaska, and Hawaii. Results among human resource benefit decision makers have a credibility interval of plus or minus 5.4 percentage points for all respondents. Results among employed women have a credibility interval of plus or minus 2.7 percentage points for all respondents. Survey content was developed by Ipsos in consultation with the Bank of America team. Bank of America, Merrill, their affiliates, and advisors are not affiliated with Ipsos.

National Menopause Foundation

The National Menopause Foundation (NMF) was founded in 2019 by women and for women to create an informed community where women can learn, exchange information, find support and be inspired as they approach and journey through menopause.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Jun. 1, 2023|

FCF/FFC advocates for and delivers tax relief for small business owners

First Capital Finance/Florida First Capital (FCF/FFC) won big for small businesses in Florida during this legislative session. Working hand-in-hand with members of the Florida House of Representatives and the Senate, FCF/FFC secured passage of language addressing the double taxation of SBA 504 loans.

“This is a huge win for both small business owners and our lending partners,” said Todd Kocourek, FCF/FFC President and CEO. “By signing this bill, the state has provided flexibility in structuring loans, reduced lender risk, and removed the double taxation many small business owners incurred.”

FCF/FFC has 40 years of experience working with private-sector lenders to provide small business owners in Florida with long-term, fixed-interest below-market financing through the Small Business Administration (SBA) 504 Loan Program. These loans are used by businesses to buy or build commercial property and purchase heavy-duty machinery and equipment.

The passage of this year’s tax package eliminates the requirement for additional documentary and intangible taxes when issuing a note to transfer interim loans to an SBA loan.

The unfair language of the original statute was evident to legislators who saw no reason to impose additional taxation on 504 loans to small business owners simply because the named lender on the interim loan was different than the one on the first mortgage. Governor DeSantis signed the legislation into law on May 25, 2023, and it goes into effect July 1, 2023.

FCF/FFC thanks the legislature and the Governor for passing such an important piece of tax relief for small business owners and borrowers.

About First Capital Finance/Florida First Capital

With 40 years of experience, FCF/FFC is one of the nation’s top-ranked CDCs promoting economic development and job creation in Alabama, Florida, and Georgia. FCF/FFC is a non-profit-certified development company promoting economic development and job creation.

Under the SBA 504 Loan Program, FCF/FFC works with private-sector lenders to provide eligible small business owners in Alabama, Florida, and Georgia with below-market, fixed-interest rate long-term financing to buy or build commercial property and/or purchase fixed heavy-duty machinery and equipment. Florida First Capital also lends under the Rebuild Florida Business Loan Fund as well as the Florida Recycling Loan Program and other small business assistance programs.

Get in Touch: Email us at [email protected] or call us toll-free at 800.504.LOAN.

Jun. 1, 2023|

Bank of America Breakthrough Lab™ seeks founders of early-stage startups

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Bank of America is pleased to officially launch its impact accelerator program named Bank of America Breakthrough Lab with the call for applications for the September 2023 cohort. The six-month program provides tailored mentorship, digital expertise, networking with industry experts and access to potential investors to Black, Hispanic-Latino, Native American and other entrepreneurs from underrepresented communities so that they can scale-up their technology-related businesses.

Founders of early-stage startups from underrepresented communities are encouraged to apply to the program that promotes financial inclusion and financial technology development with the goal of increasing the number and growth of small businesses. The deadline for applications is June 8, 2023 for a September 2023 start date.

“The bank’s long-standing commitment to supporting economic opportunity for people and communities we serve is at the core of Bank of America Breakthrough Lab,” said Rina Arline, Breakthrough Lab Program Director in Global Transaction Services at Bank of America. “We’re excited to play a role in giving emerging entrepreneurs from a range of backgrounds access to the bank’s vast resources and industry networks.”

Bank of America plans to host a new cohort each year. Program details and instructions for how to apply appear below.

Breakthrough Lab Success

In 2021, the bank launched a pilot program with five startups from the New York area. Following the initial success, in 2022 the bank expanded the pilot with 17 companies from the U.S., Mexico, United Kingdom and France.

Bank of America’s Efforts to Advance Economic Opportunity

Bank of America remains committed to supporting business owners and entrepreneurs from underrepresented communities grow their businesses, which generates economic opportunities that helps create jobs and build wealth. Bank of America also works with an established network of community partners that provides capital or serves as depository institutions, and offers businesses with access to other funds, investors and vendors by creating connectivity within the venture capital sphere. In 2021, the bank launched the Access to Capital Directory for Entrepreneurs - Access to Capital Directory to help connect women-owned businesses to resources on navigating the capital landscape and identifying potential sources of funding. This directory has now expanded to encompass Black and Hispanic Latino entrepreneurs.

To date, Bank of America has committed $421 million to more than 130 minority and women-led funds. Those funds will in turn invest in an estimated 2,000-plus minority- and women-led companies over five years.

“Our investment in minority and women-led funds has a catalytic effect in supporting diverse communities,” said Tram Nguyen, Global Head of Strategic & Sustainable Investments at Bank of America. “Each time we support a minority-led fund, they in turn support diverse entrepreneurs, which ultimately helps us to achieve our goal of advancing economic opportunity. Each cohort of Breakthrough Lab founders plays a critical role in helping us to drive progress.”

Program Application Details

Timeline: The six-month part-time program runs September 2023 to March 2024.
Who can apply: Pre-seed stage companies with ideas related to FinTech or tech-enabled ideas promoting inclusion such as HealthTech, WealthTech, EdTech, and housing. While the aspirational goal of the program is to increase access for underrepresented groups, all eligible entrepreneurs regardless of background are encouraged to apply.
Online application

Highlights:

The program is offered at no cost¹to the BTL participants and there is no expectation or requirement to exchange equity with the bank.
Each cohort is assigned mentors at the managing director or executive level from Bank of America.
94 hours of live instruction spanning a diverse range of business management topics.
Technology support.
A branding package covering website and logo design.
Guidance on how to partner or sell to large enterprises.
Exposure to investors and providers of capital, including a pitch day at the end of the program where each cohort will present their business case.

Bank of America

May. 18, 2023|

Survey says 76% of small businesses feel well-equipped to survive a recession

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The majority of U.S. small business owners (72 percent) are concerned about the impact of a potential recession; however, 76 percent are confident their business could withstand the downturn, according to the Bank of America 2023 Small Business Owner Report (PDF). The survey of more than 1,000 business owners across the country found that, despite the continued impact of inflation and supply chain issues, 65 percent of business owners anticipate revenue growth in the next 12 months.

Small business owners were also asked about topics including future plans, sustainability, employee retention and labor. Conducted in March and April, other findings include:

79% of business owners raised prices over the last 12 months.
53% added benefits and perks to retain talent.
49% plan to use automation and artificial intelligence (AI) tools for their business in 2023.
34% believe the national economy will improve in the next 12 months.

“While the dual pressures of inflation and supply chain disruptions continue to incumber operations, small business owners remain bullish about their prospects for the year ahead,” said Sharon Miller, President of Small Business and Head of Specialty Banking and Lending at Bank of America. “Small businesses are poised for growth, implementing strategies to retain and attract talent and exploring new tools including artificial intelligence to gain an edge in a highly competitive market.”

Economic Concerns and Business Outlook

Inflation (79%) and a potential recession (72%) top business owners’ concerns over the next 12 months. These entrepreneurs also expressed anxiety around commodities prices (68%), the U.S. political environment (68%), rising interest rates (67%) and supply chain (57%).

Despite these concerns, the bottom line remains strong for many entrepreneurs. Fifty-six percent of business owners reported increased revenue in 2022 compared to 2021, and looking ahead at the next 12 months, 48% plan to expand their business (vs. 37% last spring). Additionally, 82% intend to obtain financing in the year ahead (vs. 70% last spring).

Retention Efforts and Hiring Plans

Struggling with labor shortages and a competitive job market, business owners are increasingly focused on employee retention. Over the past 12 months, 53% have added additional benefits and perks to existing compensation packages, including remote/hybrid work (34%), cost-of-living bonuses (34%) and more vacation time (33%). And 75% of these business owners said their efforts meaningfully impacted employee morale and retention.

Additionally, 34% of business owners plan to hire in 2023, up from 26% last spring. Over the past 12 months, 51% implemented additional perks and benefits to attract new talent, such as increased base pay for new employees (54%), remote/hybrid work (30%), new employee training or resource groups (27%) and additional healthcare benefits (27%).

Entrepreneurs Embrace Sustainability Despite Obstacles

Three-in-four SBOs have already implemented sustainable business practices, such as reducing paper usage, establishing environmentally friendly habits in their work environment and working with sustainable vendors. While implementation challenges exist—82% of entrepreneurs cited challenges such as increased costs (49%), limited supplier options (29%) and variable quality of sustainable products/services (26%) as primary obstacles—78% of business owners plan to implement sustainable practices over the next 12 months.

Continued Digitization of Business Operations

In the past year, 80% of small business owners adopted digital tools for their business, leveraging digital banking to manage their finances and social media to reach their customers. Business owners are also embracing AI and automation, with 49% planning to use AI tools to enhance their business in 2023.

Looking ahead, 55% of entrepreneurs anticipate accepting exclusively digital payments at some point in the future, and 90% say digital tools help make their operations more efficient, helping them save time and stay organized.

For an in-depth look at the insights of the nation’s small business owners, please read the full Bank of America 2023 Small Business Owner Report (PDF).

Providing a Business Advantage to Small Business Owners

Bank of America provides advice, solutions, access to capital and dedicated support to meet the unique needs of our 11 million business owner clients. According to the FDIC, Bank of America maintained its position as the nation’s top small business lender at the end of 2022, with $36.2 billion in total outstanding small business loans (defined as business loans in original amounts of $1 million and under).

Bank of America 2023 Small Business Owner Report Methodology

Ipsos Public Affairs conducted the Bank of America 2023 Small Business Owner Report survey online between March 16 and April 10, 2023, using a pre-recruited online sample of small business owners. Ipsos contacted a national sample of 1,145 small business owners in the United States with annual revenue between $100,000 and $4,999,999 and employing between two and 99 employees. In addition, approximately 250 small business owners were surveyed in each of ten target markets: Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, Miami, New York, San Francisco and Washington, D.C. The final results for the national and designated market area segments were weighted to national benchmark standards for size, revenue and region.

Prior to 2016, previous waves of the Small Business Owner Report survey were conducted by telephone and while best efforts were made to replicate processes, differences in sample, weighting and method suggests caution when making direct statistical comparisons of the results from pre-2016 and post-2016.

Bank of America

May. 4, 2023|

GRID Alternatives receives new funding for Solar Workforce Development Program

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GRID Alternatives, the largest nonprofit installer of renewable energy in the U.S., announced a renewed partnership with Bank of America. Bank of America is a long-standing corporate partner that has renewed its investment of $300,000 in one of GRID’s workforce development programs, the SolarCorps Fellowship Program. This funding will support GRID’s 37 SolarCorps Fellows in obtaining hands-on experience, mentorship, professional development, and increased knowledge about a career in renewable energy.

“Demand for solar energy continues to grow and that demand is driving the need for more solar industry workers,” said Alex Liftman, Global Environmental Executive at Bank of America. “We are at a moment in time when we can create access to clean energy and clean energy jobs in underrepresented communities like never before. That’s why we are pleased to support SolarCorps and the broader mission of GRID Alternatives, which are helping to meet that demand and creating healthy communities and economic mobility in the process.”

GRID’s mission is to build community-powered solutions to advance economic and environmental justice through renewable energy across the United States, in sovereign Tribal nations, and internationally. “Bank of America is a champion of our SolarCorps Fellows Program, and their support is critical to helping GRID advance equity by providing valuable experience to individuals from the communities we serve, while helping communities gain access to renewable energy solutions,” said Erica Mackie, GRID CEO and Co-Founder. “Thank you to Bank of America for their support.”

GRID’s work has taken on new importance in response to the Inflation Reduction Act (IRA), which was signed into law in 2022 and represents the most significant legislation in U.S. history to combat the climate crisis and strengthen energy security. The U.S. Department of Energy Solar Energy Technologies Office and the National Renewable Energy Laboratory predict strong growth in the solar industry workforce as a result of the IRA. The September 2021 Solar Futures Study indicated “(that) in order to achieve the Biden-Harris administration’s goal of an inclusive, equitable transition to a fully decarbonized electricity system by 2035, the solar workforce will need to grow from approximately 250,000 workers in 2021 to between 500,000 and 1,500,000 workers by 2035.”

GRID is proud to be a part of the solar industry’s job growth by providing workforce development and training programs, resulting in over 33,000 trainees, students, and volunteers gaining valuable experience in solar installations and construction, and outreach and community solar education. Diversifying the solar workforce with highly qualified employees is part of GRID’s mission, and it is critical to the continued growth of the renewable energy sector.

GRID demonstrates its commitment to a just workforce transition by serving those who are typically underrepresented in the energy industry, including women and Black, Indigenous and People of Color (BIPOC)-identifying individuals. GRID also recruits job training participants from economic and environmental justice communities located in its affiliate offices’ regions, including California (Riverside County, LA County, Sacramento, Fresno, Oakland, San Diego); Denver and Kingman Park in Colorado; and Washington, DC. These projects exclusively benefit under-resourced households, defined as an annual household income that is 80% or below the area’s median income.

Since 2014, 422 people have served as SolarCorps Fellows, and the hands-on experience helped 73% of them get their next job following the fellowship. Bank of America has provided $1.85 million in funding and supported 200 Fellows since 2017 and has provided a total of $2.195 million in funding to GRID (including the SolarCorps Fellowship Program) since 2010.

Bank of America

Apr. 27, 2023|

Bank of America reports first-quarter 2023 financial results

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Bank of America reported its first-quarter 2023 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings.

Investor Conference Call information:

Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick discussed the financial results in a conference call.

Investors can also listen to live audio of the conference call and view the presentation slides by visiting the Events and Presentations section of the company’s Investor Relations website.

Replay information for Investor Conference Call:

Investors can access replays of the conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from noon on April 18 through 11:59 p.m. ET on April 28.

Bank of America

Apr. 20, 2023|

Merrill Wealth Management names new presidents

Bank of America today announced that Lindsay Hans and Eric Schimpf have been appointed presidents and co-heads of Merrill Wealth Management, reporting to Bank of America Chair and Chief Executive Officer Brian Moynihan.

As presidents, Hans and Schimpf will join Bank of America’s executive management team and oversee more than 25,000 Merrill employees. Merrill’s client balances totaled $2.8 trillion as of Dec. 31, 2022.

“Merrill is one of the largest wealth management businesses in the world and an integral part of Bank of America as we serve the unique needs of individuals, families and businesses,” Moynihan said. “Lindsay and Eric have excelled as leaders, delivering outstanding results for our advisors and clients. I’m looking forward to them building on the success and long tradition of Merrill in the years ahead.”

Hans, who most recently served as head of Merrill’s Private Wealth Management, International and Institutional business, joined the company in 2014. Previously, she was a division executive for Merrill for six years, first for the Mid-Atlantic and later for the Northeast.

Schimpf began his career as a Merrill financial advisor in 1994 and has held several leadership positions within the business. He has served for six years as division executive, first for the Southeast and most recently for the Pacific Coast. He also has been serving as co-head of the Enterprise Advisor Development program.

Hans will continue to serve as a member of the company’s Global Diversity and Inclusion Council and as a National Executive sponsor of the Merrill Women’s Exchange. Schimpf will continue to serve as Executive Sponsor for the company’s Black Professionals Group.

Hans and Schimpf succeed Andy Sieg, who is leaving the company. Sieg served as Merrill president since 2017 and led the business through a period of sustained growth and modernization of technology for advisors and clients.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 16,000 ATM and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Apr. 6, 2023|

Data finds the surge in housing costs vary

Data finds the surge in housing costs varies

BOA Logo Bank of America Institute released new analysis which examines the increase in housing costs across the United States. BofA internal data shows that median rent payments were up 8% year-over-year (YoY) and median mortgage payments were up 7% YoY for BofA customers in February, but there are meaningful variations by geography. Metropolitan areas in the Sun Belt like Phoenix and Tampa saw rent costs increase by as much as a staggering 26% and 23% YoY respectively, both of which are at a record high pace despite the Fed action aimed at taming price increases. Cities outside of the Sun Belt, like San Francisco, saw more muted growth, as low as 2.5% YoY. Mortgage payments saw a similar regional divide, with metropolitan areas like Tampa, Orlando and Atlanta seeing the biggest rise, while Chicago, Washington, D.C. and Boston see only modest gains.

Median rent and mortgage payment growth in U.S. metropolitan cities
City	Median rent payment growth¹	Median mortgage payment growth¹
Phoenix	26%	10%
Tampa	23%	15%
Orlando	23%	13%
Charlotte	21%	10%
Austin	21%	14%
Atlanta	20%	13%
Dallas	18%	12%
Miami	16%	15%
New York	9%	9%
Boston	8%	8%
Seattle	7%	12%
Chicago	7%	7%
Los Angeles	6%	9%
San Francisco	2.5%	10%

Economists at the Institute offer four possible reasons for the regional divide:

Domestic migration trends between states since the beginning of the pandemic saw people moving to Arizona, Florida and Texas, while leaving California and Illinois
Sun Belt markets offer more affordable housing, even after the surge in home prices and rents
Job creation in the Sun Belt markets outpaced other markets and exceeded the national average since the start of the pandemic
The creation of higher-paid jobs such as those in technology and finance, which saw higher growth in the Sun Belt, puts upward pressure on the local housing market

“People across the Unites States continue to feel the squeeze from higher housing costs but the impact is uneven between regions,” said Anna Zhou, economist for Bank of America Institute. “Ultimately, population and employment growth are two main factors driving a region’s housing market, and this may be why we are seeing an over 20% YoY increase in rents in many Sun Belt cities.”

Read the full analysis and methodology here.

About Bank of America Institute

Bank of America Institute is dedicated to uncovering powerful insights that move business and society forward. Established in 2022, the Institute is a think tank that draws on data and analyses from across the bank and the world to provide timely and original perspectives on the economy, Environmental, Social and Governance (ESG), and global transformation. The Institute leverages the depth and breadth of the bank’s proprietary data, from 67 million consumer and small business clients, 56 million verified digital users, $4.2T in total payments in 2022 and $1.4T in consumer and wealth management deposits. From this robust data set, the Institute provides a unique perspective on the health of the economy. It also elevates thought leadership from throughout the bank that addresses long-term trends and shares these findings with the general public.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Mar. 30, 2023|

MIDFLORIDA names Shrita Walker to lead commercial lending program in Treasure Coast market

Shrita Walker

MIDFLORIDA Credit Union is pleased to announce that Shrita Walker has been named vice president/commercial loan officer with the Commercial Lending Department. In her new role, she will be responsible for originating commercial loan business.

A veteran of the banking industry with over 21 years of experience, she most recently served as Vice President Area Manager for the credit union’s Treasure Coast region where she was responsible for staffing and operations of six branches.

“I am fortunate for this tremendous opportunity to work for and grow with a dynamic company like MIDFLORIDA. I am excited to continue to serve my community in this new capacity. MIDFLORIDA is the leading credit union commercial lender in the state and I’m looking forward to cultivating relationships and expanding that expertise to the Treasure Coast and surrounding markets,” Walker said.

Joining MIDFLORIDA in 2014, she was the Branch Manager of the credit union’s Central Vero branch. She has held positions ranging from Branch Manager/Assistant Vice President to Vice President Area Manager. Prior to joining MIDFLORIDA, she served as Assistant Vice President/Regional Operations Manager at SunTrust Bank. Her new role with MIDFLORIDA will focus on the expansion of the credit union’s commercial lending program and continue to represent MIDFLORIDA at events in the Treasure Coast market.

A graduate of the University of Georgia, Walker also holds an M.B.A from Strayer University. She is also a graduate of the St. Lucie County Chamber of Commerce Leadership program, Port St. Lucie City University and St. Lucie County Citizens Academy. She is a recipient of the Haitian American Chamber of Commerce Treasure Coast Outstanding Community Partnership Award. Currently, she serves as Secretary of the Economic Development Council and is a Board member on the St. Lucie County Chamber of Commerce and St. Lucie County Education Foundation.

Walker will be based out of MIDFLORIDA’s Port St. Lucie Gatlin branch, located at 1692 SW Gatlin Blvd., Port St. Lucie. For assistance with commercial loans, deposits or investment needs, she can be reached at (772) 773-0028.

MIDFLORIDA is a state-chartered financial institution headquartered in Lakeland, Florida. The Credit Union serves more than 453,000 members with assets totaling more than $6.69 billion through its network of branches, ATMs and website, midflorida.com. MIDFLORIDA Credit Union is open for membership to anyone who lives, works, worships or attends school within its Florida service area, which spans from Gainesville to Stuart and coast to coast.

Feb. 23, 2023|

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Banking

BofA report finds 64% of women want menopause-specific benefits

FCF/FFC advocates for and delivers tax relief for small business owners

Bank of America Breakthrough Lab™ seeks founders of early-stage startups

Survey says 76% of small businesses feel well-equipped to survive a recession

GRID Alternatives receives new funding for Solar Workforce Development Program

Bank of America reports first-quarter 2023 financial results

Merrill Wealth Management names new presidents

Data finds the surge in housing costs varies

$535k in unclaimed funds available in SLC

MIDFLORIDA names Shrita Walker to lead commercial lending program in Treasure Coast market