October 03 2012
Citi Foundation and Operation HOPE Celebrate 2012 National Emergency Preparedness Month
New scaling program designed to help empower families to take control of their financial future in the wake of a disaster; Financial Preparedness Seminars offered until the end of the year
NEW YORK-- Operation HOPE’s division for financial emergency preparedness and “economic triage,” HOPE Coalition America (HCA), today announced, in recognition of National Emergency Preparedness Month, a $150,000 contribution from the Citi Foundation was made to help families prepare for and minimize the impact of a catastrophe on their finances in the wake of a man made or natural disaster.
Made available through a series of fifty-six Financial Preparedness Seminars, which began in August and will be made available to the end of the year, at HOPE Centers in New Orleans, Los Angeles, Atlanta, Miami, Washington DC, New York City, and the San Francisco Bay Area, a program that aims to empower 1,680 individuals in low-to-moderate income communities by the end of 2012. HOPE expects that 50% of all participants will complete the Emergency Financial First Aid Kit and Personal Disaster Preparedness Guide, 35% will create and maintain a budget, and 20% will contribute to an emergency savings account.
The HOPE Emergency Financial First Aid Kit (EFFAK) and the Personal Disaster Preparedness Guide (PDPG) documents are the key tools used to help participants organize financial and personal information, review their assets, establish and maintain a budget and ensure access to personal financial information in case of an emergency or disaster. Both tools lead individuals through the steps they should take prior to an emergency to protect their assets, including preparing a disaster recovery budget, reviewing insurance coverage, and creating an emergency fund. The U.S. government’s Federal Emergency Management Administration (FEMA) has endorsed these materials and more than 500,000 copies have been distributed to date. The results are measured by the HOPE’s Office of Innovation, Research and Assessment with a focus on assessing the saving and preparedness behavior shift in participants after completing the program.
In addition to the seminars, with this commitment from the Citi Foundation, Operation HOPE will institute a new e-newsletter and periodic phone calls to assist seminar participants in filling out the Emergency Financial First Aid Kit and the Personal Disaster Preparedness Guide.
Participants are encouraged to take advantage of financial education and counseling services offered at local HOPE Centers where they can work on creating a household budget, increasing their emergency savings, rebuilding their credit, and reviewing their assets and insurance policies.
“We are honored to have the support of our longtime partner the Citi Foundation. Whether it’s a flood or hurricane, tornado or fire, every year during the storm season, we recognize the importance of being financially prepared should disaster strike. In recognition of National Emergency Preparedness Month, HOPE began urging people to take advantage of this program,” said HOPE Founder, Chairman and CEO John Hope Bryant. “We anticipate that the participants in the program will take action by organizing their finances and information, establishing budgets and saving so they can recover losses in the shortest time possible in case of emergency.”
“We are delighted to join with Operation HOPE to help build the financial resiliency of individuals, families and communities to cope with disasters. Planning ahead by establishing emergency savings and consolidating financial information are important steps that people can take to protect themselves and minimize the financial impact of a crisis situation.” said Daria Sheehan, Senior Program Officer, Citi Foundation.
To obtain a schedule of Financial Preparedness Seminars in your community contact: Jason Yancey 866-690-1596 ext. 239
The Citi Foundation is committed to the economic empowerment and financial inclusion of low- to moderate-income individuals and families in the communities where we work so that they can improve their standard of living. Within the disaster response portfolio more specifically, the Citi Foundation strategy consists of three complementary components: building the financial resilience of individuals, families and communities to weather disasters, providing funds for immediate relief, and effectively directing resources to community rebuilding efforts. Additional information can be found at http://www.citifoundation.com.
In recognition of its 20th year anniversary this year, HOPE has been highlighting its Silver Rights Mission to educate and empower individuals and communities through financial dignity using financial literacy tools. HOPE firmly believes financial literacy is a new civil rights issue for everyone, and financial dignity is the ultimate aim of “silver rights”, which means making free enterprise and capitalism work for all.
Since 1992, nonprofit Operation HOPE has grown to become the global leader in financial dignity, providing financial literacy and empowerment services to underserved communities worldwide. Through its four principle portfolios: Youth Empowerment Group, HOPE Coalition America, HOPE Financial Dignity & Literacy Empowerment Centers, and HOPE Global Initiatives, the organization addresses youth and adult financial literacy, economic preparedness, bridges the digital divide and promotes home ownership, assists with credit management and foreclosure prevention. With the support of more than 400 private sector companies, 5000 nonprofit organizations and schools and government partners, HOPE has reached over 2 million low-wealth individuals in 273 U.S. cities, South Africa, Morocco and Saudi Arabia. At the core of HOPE’s mission is a Silver Rights Movement, ensuring that free enterprise and capitalism work to provide a better future for underserved communities around the world.