It is demonstrated that a charge-trapping layer placed in proximity to a ferromagnetic metal enables efficient electrical and optical control of the metal's magnetic properties. Retention of charge trapped inside the charge-trapping layer provides nonvolatility to the magnetoelectric effect and enhances its efficiency by an order of magnitude. As such, an engineered charge-trapping layer can be used to realize the magnetoelectric equivalent to today's pervasive charge trap flash memory technology. Moreover, by supplying trapped charges optically instead of electrically, a focused laser beam can be used to imprint the magnetic state into a continuous metal film.