It’s fitting that, as the nation prepares to celebrate Veterans Day and looks ahead to America’s 250th birthday, one of the country’s biggest banks is putting real money behind words of gratitude. On November 10, Bank of America announced a $350,000 grant to American Corporate Partners (ACP)—a nonprofit that helps U.S. military veterans and their spouses build new careers in the civilian workforce.
The funding will directly support 250 mentorships over the next year, a symbolic nod to the nation’s approaching semiquincentennial in 2026. But it’s also a practical move aimed at tackling a persistent challenge: helping veterans translate their military experience into meaningful, well-paying jobs.
A Veterans Day Investment in the Future
Bank of America’s announcement wasn’t just timed for public relations. It arrived on the eve of Veterans Day, the federal holiday that honors the millions who’ve served in the U.S. Armed Forces.
In its official press release, the bank described the grant as part of its broader workforce development strategy—one focused on “skills-first” hiring. That means looking beyond college degrees to emphasize real-world experience and leadership, traits veterans often have in abundance.
“Veterans and military spouses bring invaluable skills, leadership, and resilience to the workforce,” said Meghan Hughes, head of workforce development at Bank of America. “By expanding our partnership with American Corporate Partners, we’re not only investing in their future—we’re helping build pathways to long-term success while driving American economic growth and opportunity.”
Since teaming up with ACP in 2018, Bank of America has already helped place dozens of veterans into jobs across its own operations—from risk management and finance to technology and client services.
How the ACP Mentorship Model Works
ACP was founded in 2008 by Sid E. Goodfriend, a former investment banker who wanted to give veterans more than a handshake after service. His organization pairs transitioning service members and military spouses with corporate mentors from major firms—including Amazon, PepsiCo, Deloitte, and now, Bank of America.
Each mentorship lasts a full year, with participants receiving one-on-one career guidance, networking opportunities, and resume and interview training. According to ACP, the results speak for themselves:
| ACP Program Metrics (as of 2025) | Outcome |
|---|---|
| Total participants nationwide | ~40,000 veterans and spouses |
| Average post-mentorship salary | $90,000 |
| Retention rate (after one year) | 80% |
| Partner companies | 100+ major U.S. employers |
“The incredible talent of our veterans and military spouses is too often diminished by underemployment,” said Goodfriend. “That’s why Bank of America’s commitment to hundreds of mentorships is so vital. It’s an act of transformation, not charity.”
A Broader Push for Veteran Empowerment
This isn’t Bank of America’s first step into veteran support. The company says it has already donated more than 6,500 homes since 2012—2,700 of those to nonprofits that serve military families. It also runs a Military Support & Assistance Group (MSAG) with 43 chapters and 22,000 members nationwide, providing peer support and community engagement for employees with military ties.
Looking forward, the bank has pledged to hire 10,000 more veterans and military spouses over the next five years, a goal that aligns with national workforce development initiatives led by the U.S. Department of Veterans Affairs and the Department of Labor’s VETS program.
The focus isn’t just on hiring, though—it’s on long-term sustainability. Veterans who find meaningful employment are more likely to stay in civilian roles, build financial independence, and contribute to economic growth.
The Significance of 250 Mentorships
The symbolic link between the 250 mentorships and America’s 250th birthday isn’t lost on observers. It’s a reminder that honoring service means more than waving flags or issuing press releases. It means preparing veterans for the next chapter of their lives.
Bank of America’s $350,000 investment will provide each participant with access to ACP’s resources and support network, including leadership development, resume workshops, and connections to Fortune 500 companies.
It’s part of a growing trend among major U.S. corporations to shift from charitable giving to strategic empowerment. Instead of one-time donations, companies like BofA are embedding veteran support into their long-term business strategies.
A Veterans Day of Reflection
Veterans Day isn’t about war—it’s about the people who return from it. And as VA Secretary Doug Collins noted in his November 10 statement, “America’s veterans have made our country—and our military—the greatest in the world. On Veterans Day, we honor these patriots, celebrate them for protecting our freedoms, and salute them for keeping us safe.”
With this grant, Bank of America joins the growing list of institutions turning that sentiment into concrete action.
The Bigger Picture: Beyond Gratitude
The veteran transition challenge remains daunting. Roughly 200,000 service members leave the military each year, and many struggle to translate their military skill sets into civilian job descriptions. Despite improvements in veteran employment rates, underemployment—working in roles below one’s skill or pay grade—still affects an estimated one in three former service members.
Partnerships like ACP’s help bridge that gap. By pairing veterans with executives who understand both the business world and the value of service, these programs open doors that résumés alone often can’t.
And as the U.S. approaches its 250th anniversary, initiatives that invest in human capital—especially among those who’ve already given so much—carry a deeper resonance.
FAQs
What is American Corporate Partners (ACP)?
ACP is a national nonprofit founded in 2008 that provides one-on-one career mentorships to veterans and military spouses transitioning into civilian careers.
How much is Bank of America donating to ACP?
The bank announced a $350,000 grant that will fund 250 mentorships over the next year.
How many veterans has ACP helped so far?
ACP has supported nearly 40,000 veterans and spouses since its founding, with an average post-mentorship salary of about $90,000.
What are Bank of America’s other veteran initiatives?
The bank has pledged to hire 10,000 more veterans, donated 6,500 homes (including 2,700 to military nonprofits), and runs a Military Support & Assistance Group with 22,000 members nationwide.
How can veterans apply for ACP’s mentorship program?
Eligible veterans and military spouses can apply directly through the ACP website.
