KeyBank Partners with Operation HOPE to Provide Homebuyer Education & Financial Education to the Communities it Serves

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Aug 29, 2023, 07:00 ET

Financial coaches are serving in multiple branches across KeyBank's footprint to provide one-on-one and group financial assistance and access to programming at no cost

ATLANTA, Aug. 29, 2023 /PRNewswire/ -- KeyBank and Operation HOPE, Inc., a national non-profit dedicated to financial empowerment for underserved communities, recently announced plans to provide access to its HOPE Inside program across three branches in KeyBank's footprint. HOPE Inside delivers comprehensive financial education programming and coaching, including homebuyer education, with the goal of helping to empowering community members with knowledge and tools to create a more secure financial future.
KeyBank has a dedicated financial coach placed in branches in Buffalo (the East Delavan branch), Denver (the West Evans branch) and Seattle (the Kent Downtown branch). The coaches provide education and programming to adults, youth, disaster survivors and employees at no cost.

"Since our inception, we've been focused on supporting the communities we serve - not just to survive but also to thrive. This is just another step toward helping our deserving community members progress on their unique financial journeys," said Victor Alexander, Head of Key's Consumer Bank. "We're excited for our partnership with Operation HOPE and look forward to the important education and guidance this will provide within our communities, empowering our neighbors to move forward on their financial path."

The collaboration between Operation HOPE and KeyBank is structured around two primary pillars:

Homebuyer Education: Coaches certified by the Department of Housing and Urban Development (HUD) will conduct group-based homebuyer education classes and personalized coaching sessions. The objective is to equip participants with the insights, skills, and resources needed to overcome common challenges that first-time homebuyers often encounter during the home loan process.
Financial Education: On-site coaches will offer guidance on credit management and effective money management techniques. Through step-by-step guidance, individuals will gain the skills necessary to enhance their financial management capabilities and receive ongoing support throughout their financial journeys.

John Hope Bryant, Founder Chairman and CEO of Operation HOPE, expressed enthusiasm for the ongoing partnership, saying, "As KeyBank continues to uphold its values and purpose-driven approach, Operation HOPE is fully committed to accelerating their positive mission. Together, we will provide access to financial literacy tools that unlock possibilities, enabling increased homeownership, entrepreneurship, and the ability to foster stronger communities."

The collaboration between KeyBank and Operation HOPE aligns with KeyBank's broader efforts to enhance access to homeownership in an equitable manner. This program complements initiatives such as the Neighbors First Credit SM, the Key Opportunities Home Equity Loan and the KeyBank Home Buyer Credit SM, both designed to facilitate homeownership for qualified properties in eligible communities.
Additionally, the program follows Key's introduction of the Neighbors First Credit^SM¹ , Key Opportunities Home Equity Loan² and the increase of KeyBank Home Buyer Credit^SM³, three Special Purpose Credit Programs⁴ offered for qualifying properties in eligible communities to help borrowers on their path to owning a home, as well as a commitment to invest more than $25 million in grants, fee waivers, and marketing over five years to increase mortgage lending in majority-minority neighborhoods and more than $1 million to homebuyer education and other community support.

About Operation Hope:
Since 1992, Operation HOPE has steadfastly advanced America from civil rights to "Silver Rights," empowering millions of low and moderate-income youth and adults across the nation through its visionary community uplift model, HOPE Inside. Lauded as the Innovator of the Year by American Banker magazine, Operation HOPE has impacted over 4 million individuals and facilitated over $4 billion in economic activity within disenfranchised communities. This transformative approach has converted check-cashing customers into banking clients, renters into homeowners, small business dreamers into successful owners, minimum wage workers into living wage consumers, and uncertain disaster victims into financially empowered survivors. Recognized with Fast Company's World Changing Ideas Award for fostering entrepreneurship, and honored with the prestigious 4-star charity rating for fiscal management and commitment to transparency and accountability by Charity Navigator, Operation HOPE continues to level the economic playing field for underserved Americans. Recently, HOPE launched The 1865 Project, an initiative designed to drive economic equity. For more information: OperationHOPE.org. Join the conversation on social media at @operationhope.

About KeyCorp
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $195 billion at June 30, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC. NMLS #399797. Mortgage and Home Equity Lending products offered by KeyBank are not FDIC insured or guaranteed.

NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All home lending products, including mortgage, home equity loans and home equity lines of credit, are subject to credit and collateral approval. Not all home lending products are available in all states. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees and terms are based on those offered as of the date of application and are subject to change without notice. KeyBank extends credit secured by residential real estate without regard to race, color, religion, national origin, sex, handicap, or familial status.

¹Available on primary residence purchases only. Limited to certain geographical areas. Ask KeyBank for details.

²Key Opportunities Home Equity Loan is a rate discount program provided as a permanent rate reduction that will be reflected in the Promissory Note interest rate. Interest rate discount is not combinable with any other offers.

³Eligibility is determined based on both census tract and community location. Not all census tracts within a listed community are eligible. Not all properties in communities that are listed may qualify. Eligible communities are subject to change without notice. Available on primary residence purchases only. Limited to certain geographical areas. Ask KeyBank for details.

⁴Special Purpose Credit Programs are, generally, programs that are established to meet special social needs or the needs of economically disadvantaged persons by extending credit to persons who would probably be denied credit or would receive it on less favorable terms, under certain conditions. See 15 U.S.C. § 1691(c)(1)-(3); 12 C.F.R. § 1002.8(a).

CONTACT: Lalohni Campbell, [email protected], (404) 593-7145

SOURCE Operation HOPE, Inc.