SunTrust provides million dollar grant to Operation HOPE to advance financial empowerment
LOS ANGELES, Jan. 14, 2015 /PRNewswire/ -- Operation HOPE announced today that SunTrust has committed one million dollars over two years to expand adult and youth financial empowerment services.
The contribution will help fund project management of the HOPE Inside program, in which Operation Hope representatives co-locate in bank branches to provide financial counsel to communities. Counseling includes homeownership, credit and money management, earned income tax credit education, "Banking on our Future" for youth, small business issues and entrepreneurship training. In addition, a portion of the financial support from SunTrust will be used for the expansion and management of HOPE Inside Plus, a program designed to empower existing bank representatives to provide these services.
"SunTrust is the best kind of partner – one that believes you can do well by doing good," said Operation HOPE Founder, Chairman and CEO John Hope Bryant. "This grant will allow Operation HOPE to provide meaningful financial literacy education to low- to moderate-income communities. We applaud SunTrust in their commitment to build strong communities through this award, which will help us serve the unbanked and underserved."
"SunTrust is pleased to support programs that foster financial well-being," said SunTrust Chairman and CEO William H. Rogers, Jr. "An important way that SunTrust fulfills its purpose is by ensuring that all consumers have access to the education they need to make critical financial decisions. The partnership with Operation HOPE allows us to reach more people with high quality financial empowerment services."
In 2013, SunTrust announced HOPE Inside locations in Atlanta, Memphis and Washington D.C. To date, SunTrust's HOPE Inside locations have reached more than 2,000 individuals with financial literacy education. HOPE Inside counselors at SunTrust branches have helped more than 1,700 individuals overcome financial obstacles ranging from foreclosure prevention to creditworthiness, preparedness for homeownership and small business support.
About Operation HOPE, Inc.
Since its inception in 1992, Operation HOPE, a global nonprofit focused on financial dignity, has empowered more than 2.2 million individuals and directed close to $2 billion in private capital to America's low-wealth communities. It has recruited a growing army of 20,000 HOPE Corps volunteers, and helped raise average credit scores for financial case management clients more than 120 points over an average 18-month period. It currently serves more than 300 U.S. cities, as well as South Africa, Saudi Arabia, Morocco, and most recently, the United Arab Emirates. Its effort to empower underserved communities is a "silver rights" mission to make free enterprise work for everyone.
About SunTrust Banks, Inc.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2014, SunTrust had total assets of $186.8 billion and total deposits of $136.5 billion. Through its flagship subsidiary, SunTrust Bank, the Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust's Internet address is suntrust.com.
SOURCE SunTrust Banks, Inc.
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