Bank of America is expanding its program to reimburse $3,000 to employees that purchase a new hybrid vehicle. The program will now be available to more than 185,000 U.S.-based employees. 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 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. All full-time and part- time, U.S.-based associates working at least 20 hours per week are eligible.
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