#USA #California #Los Angeles #BMO #Wildfire Recovery

BMO Invests $8 Million to Strengthen California Communities and Aid Wildfire Recovery

BMO, a prominent financial institution, has announced a generous investment of $8 million aimed at supporting various non-profit organizations throughout California. This initiative includes $5 million in new grant funding that will significantly contribute to the development and recovery efforts in communities, particularly focusing on those afflicted by the recent wildfires in Los Angeles.

Overview of the Commitment

In addition to the $5 million set aside for new grants, BMO also reaffirms its commitment with a $3 million LA Wildfire Recovery Fund, also revealed in January 2025, now announcing the 32 grant recipients who are set to benefit from this crucial support after the devastating fires. The bank's thoughtful distribution of funds aims to empower nonprofit organizations that are crucial to community recovery, economic stability, and the establishment of a sustainable future.

Key Grant Recipients

The notable recipients of the new grant funding include:

• - Homeboy Industries - Awarded $2 million, this renowned organization has been instrumental in providing gang intervention and rehabilitation services for over 35 years in Los Angeles. The funds will aid in developing the Hope Village campus, a project aimed at offering critical housing and mental health services for those previously incarcerated or experiencing homelessness.
• - GRID Alternatives - Also granted $2 million, this nonprofit is known for its impactful work in promoting renewable energy solutions. BMO's support will help GRID expand solar energy access, potentially benefiting around 40,000 individuals and creating job opportunities for 1,000 seekers.
• - Glide Foundation - The San Francisco-based organization received $1 million to assist in launching a workforce development program tailored for youth experiencing poverty and housing insecurity. This initiative will offer a combination of support services, structured classes, and social activities.

Statements from Leadership

Darrel Hackett, CEO of BMO U.S., emphasizes the bank's commitment to community progress, stating, "These donations reflect BMO's deep commitment to driving progress for our communities, clients, and colleagues.” He highlights the transformative work being carried out by these organizations and the importance of their mission in uplifting Californians.

The leaders of Homeboy Industries expressed their gratitude, stating, "Their generosity helps sustain our daily work of hope, healing, and transformation – and propels us forward as we build Hope Village.” Erica Mackie, Co-CEO of GRID Alternatives, noted the strategic benefits of the partnership, stating that the collaboration contributes significantly to making renewable energy accessible and affordable.

Recovery Efforts Following the Wildfires

The $3 million pledged for wildfire recovery is targeted at nonprofit organizations addressing the housing and business needs of those affected by the wildfires. BMO aims to make a positive impact through intentional engagement with affected communities to understand their pressing needs better. Joe Nagy, President of the Altadena Community Garden, reflected on the community's resilience and praised BMO's support for ongoing recovery efforts.

Building on a Strong Legacy

BMO's recent initiatives are part of a more extensive commitment to philanthropy in California. Following its acquisition of Bank of the West in 2023, BMO pledged $50 million for charitable contributions across the state, with over $27 million already distributed to nonprofit organizations as of August 2025.

Hackett reiterated the company's dedication to investing in California's future, ensuring their role goes beyond standard banking practices to deeply connect with and uplift the communities they serve.

Conclusion

This $8 million commitment from BMO illustrates a powerful example of how financial institutions can lead positive change within communities. By investing in local organizations that are essential for recovery and growth, BMO exemplifies its purpose statement to "Boldly Grow the Good" in both business and life. These efforts underscore the importance of collaborative community engagements, especially in times of need, aiming to revive and strengthen California's resilience moving forward.