Bank of America offers hybrid credit

Charlotte-based bank will give its employees $3,000 if they buy a hybrid and live within 90 miles of Charlotte, Boston or Los Angeles.

NEW YORK (CNNMoney.com) – Bank of America announced it will reimburse $3,000 to many of its employees who buy a new hybrid vehicle.

The nation’s No. 2 bank will make the rebates available to more than 21,000 employees who live within 90 miles of Boston, Charlotte, and Los Angeles. The bank’s main headquarters is in Charlotte.

“Given the size of our commuting associate base, the hybrid program expands our commitment to the environment and helps our associates to participate in making a difference while cutting down on their commuting costs,” said a statement from Anne Finucane, head of the company’s environmental council. “We are pleased to be one of the first corporations offering this benefit and strengthening our long-standing leadership on environmental issues.”

The bank described the offer as a pilot program and said it will evaluate participation levels and demand to assess how it could be rolled out to the full employee base. The program is being offered to all full-time and part-time employees working at least 20 hours a week in the three metropolitan areas covered by the bank’s pilot program.

CNN/Money