June 23 2010
Operation HOPE and the Roundtable Announce 1st Year Accomplishments of Financial Literacy Framework Agreement
Washington, D.C. - June 23, 2010 - On the one-year anniversary of the signing of the Framework for Financial Literacy, Operation HOPE and The Financial Services Roundtable are pleased to announce their first-year accomplishments. The Framework is a five-year plan designed to nurture C-Suite leadership around financial literacy, further integrate financial literacy into the "business case" of the financial industry, and in so doing to highlight the financial services industry's commitment to financial literacy through principles and efforts, in conjunction with one of the Roundtable's leading non-profit partners, Operation HOPE.
Some of the major accomplishments this year included:
• The Roundtable sponsored, and its member companies SunTrust Banks, Inc. and Wells Fargo & Company, provided funding commitments for the development and operations of the to-be-built Operation HOPE Financial Literacy Empowerment Center at Ebenezer Baptist Church in Atlanta, GA.
• The Roundtable and Operation HOPE partnered with NASDAQ and NYSE Euronext to celebrate Financial Literacy Week 2010, and participated in Financial Literacy Day on Capitol Hill in support of National Financial Literacy Month.
• Roundtable member companies provided 7,800 classroom volunteers to deliver Operation HOPE's and Junior Achievement's financial education programs. (Watch Jack Kosakowski congratulate Roundtable member companies for their volunteer efforts here.)
• Led by U.S. Bancorp's Chairman, President and CEO Richard K. Davis who is also chairman of The Roundtable, the U.S. Bank made a five-year, seven-figure lead pledge to support financial literacy in communities where HOPE and U.S. Bank operate. (View Rick Hartnack's announcement here.)
• The Roundtable supported legislative action such as HOPE-inspired Bill HR1325, by Congresswoman Sheila Jackson-Lee which directly cites the work of Operation HOPE
"Financial literacy is an investment in America. As we focus on moving the economy forward, we must also work hard to move our communities forward," said Steve Bartlett, President and CEO for the Roundtable. "It is always important to commit actions to words, and I am quite proud of our initial achievements after signing this Framework one year ago."
"The partnership was formed to demonstrate the financial services industry's commitment to helping underserved communities out of poverty and disenfranchisement," said Operation HOPE Founder, Chairman and CEO John Hope Bryant. "Our success over the first year reflects the powerful strides our partnership is making towards building relationships in under-resourced areas and delivering our services. It is also a powerful step forward for HOPE's Silver Rights Movement and ultimately a great move forward for the country's long-term economic stability. In an economic age, if you don't understand the language of money (financial literacy), and if you don't have a bank account, you are simply not free in the 21st century to pursue your hopes and dreams. Financial literacy empowerment is as important today, as the right to vote was in 1962."
To view the original Framework agreement signed on June 17, 2009 at the Operation HOPE Global Financial Literacy Summit, please click here.
About the Roundtable
The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO.
Roundtable member companies provide fuel for America's economic engine, accounting directly for $74.7 trillion in managed assets, $1.1 trillion in revenue, and 2.3 million jobs.
About Operation HOPE, Inc.
Founded in 1992, Operation HOPE is a Los Angeles-based global nonprofit and social investment organization providing financial literacy, credit counseling and management, computer training, lending services and inspiration to the economically disadvantaged. Operation HOPE has assumed the responsibility of piloting the Silver Rights Movement towards making free enterprise and capitalism relevant to all underserved communities. With more than 400 private sector partners, 3500 nonprofit organizations and schools, and 100 government partners in 70 major U.S. cities and seven provinces in South Africa, HOPE has raised more than $500 million in its pursuit of educating, assisting and inspiring the next generation of global stakeholders in financial literacy, economic empowerment and silver rights. To learn more visit www.operationhope.org.