BNY Mellon Commits $20 Million to Fund the Future Workforce

NOVEMBER 5, 2020


BNY Mellon announced a $20 million multi-year commitment in support of vital educational and workforce development programming to academic and job training organizations. BNY Mellon is investing in the educational success of underserved populations, and up-skilling and re-skilling individuals within the company’s footprint. The targeted funding will provide near-term solutions with long-term benefits for underrepresented individuals. 


“BNY Mellon is deeply proud of its roots in New York and Pittsburgh and is heavily invested in these cities,” said Todd Gibbons, Chief Executive Officer of BNY Mellon. “We look forward to facilitating important STEM-based programming directly benefitting thousands at the City University of New York and the Community College of Allegheny County. Our world and our industry will be shaped by the next generation of leaders, and we’re committed to developing and investing in tomorrow’s talent.”


The City University of New York (CUNY)

The company committed $10 million to CUNY, a long-standing grantee of BNY Mellon in their headquarters region. Funding will underwrite the launch of the NYC Future of Work Initiative that will provide education and training in high-demand jobs with both short- and long-term growth opportunities to more than 40,000 New Yorkers; and expansion of the BNY Mellon Transfer Scholarship Program, which will support 900 associate degree earners who have transferred to a CUNY senior college to pursue their bachelor’s degree. 


Community College of Allegheny County (CCAC)

In southwestern Pennsylvania, the company committed $5 million to CCAC to establish the BNY Mellon Early College in High School Program. This program will offer career pathways in business, finance, information technology & digital support to 400 under-represented students in partnership with local school districts. Through a rigorous dual-enrollment course, the program will provide an opportunity for students to earn a high school diploma as well as specialized certification(s), or an associate and/or bachelor’s degree in a specified discipline in 4-6 six years.


Workforce Training

BNY Mellon is investing $5 million in workforce training with a select group of local and national organizations to ready individuals lacking experience, qualifications and access to enter a tightening labor market, and low-skilled individuals looking to re-enter the same market. Our initial agencies are Goodwill Industries, The HOPE Program, Jewish Vocational Services, Literacy Pittsburgh, Neighborhood Allies and Year Up.  We will identify additional regional and national organizations over the next two years.


The company is committed to investing in education and in-demand skills training that offer access to sustainable career pathways and ensures stability and economic independence for under-represented individuals in a time of great uncertainty. 


For more information, contact Madelyn McHugh  at +1 212 635 1376.


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