Bank of America Expands Hybrid Vehicle Program Nationally

Last June, the company introduced the program to associates living within 90 miles of the three pilot program cities, Boston, Charlotte, and Los Angeles.

"Our associates were very enthusiastic about this program and have responded well to the opportunity," said Anne Finucane, Bank of America chief marketing officer and head of the company's environmental council. "In fact, since we launched the program and within the three cities where it was piloted, hybrid vehicle purchases by our associates have more than quadrupled. The program continues to expand our commitment to the environment and offers our associates a way to participate in making a difference while cutting down on their commuting costs."

The company will continue to evaluate the program, assessing how it could be rolled out to associates outside of the U.S. The program mirrors the Internal Revenue Service's hybrid vehicle tax credit program and applies toward a new hybrid vehicle as defined by the agency. Associates are eligible for this reimbursement only once, and the reimbursement is subject to all applicable federal, state and local withholdings. All full-time and part- time, U.S.-based associates working at least 20 hours per week are eligible.