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January 01 2010

E*TRADE Bank Announces $2 million, 15-month Commitment to Operation HOPE

Funds Support Operation HOPE's Mission to Deliver Financial Literacy Programs
in Low-Income and Minority Communities

E*TRADE Director of Community Investment, Kelvin James; Operation HOPE Founder and CEO, John Bryant; EVP and president of E*TRADE Bank, Bob Burton; and E*TRADE VP of Bank Compliance, Celie Niehaus.
New York - Sept 22, 2010
-- E*TRADE Bank announced its continued commitment to improving financial literacy and education in low -income and minority communities with a new $2 million, 15-month pledge to Operation HOPE (HOPE), an international nonprofit dedicated to delivering financial education, access and empowerment to the underserved.

The commitment will support Operation HOPE's programs including: Banking on Our Future (BOOF) and -- educational programs providing banking, savings, credit and investing concepts to students age 9-18 in the classroom and online; Operation HOPE's network of HOPE Centers, offering residents in low-income communities financial education and guidance, as well as support obtaining bank, savings and credit accounts, and home and small business loans; and other programs.

To recognize E*TRADE's commitment, which marks its tenth year supporting the organization, Operation HOPE hosted a reception at the Harlem HOPE Center located at 2511 Frederick Douglass Boulevard, New York on Monday, Sept. 20, 2010.

The event featured numerous New York City business and community leaders, including: Deputy Commissioner of the Department of Consumer Affairs, Cathie Mahon; Founder, Chairman and CEO of Operation HOPE, John Hope Bryant; E*TRADE Securities President, Michael Curcio; E*TRADE VP of Bank Compliance, Celie Niehaus; and Operation HOPE First Senior Vice President and Global Chief of Financial Literacy, Mary Hagerty, among others. Local community members and volunteers were also present to discuss - and raise awareness of - the need for greater financial education, service and access in low-income and minority communities.

"As a financial services provider, E*TRADE is a proud supporter of Operation HOPE's mission to educate Americans of all ages about the basics of banking and investing," said E*TRADE's Celie Niehaus. "Millions of consumers continue to use expensive check-cashing centers, have little-to-no savings, poor credit, and limited access to loans and mortgages. Operation HOPE and its network of volunteers are changing that by delivering education, technology and greater access to banking and financial institutions."

"This renewed contribution demonstrates E*TRADE's steadfast commitment and active approach to supporting low-income communities," said Operation HOPE's John Bryant. "In the last 10 years, E*TRADE's support has helped Operation HOPE launch the Washington, DC and Harlem-based HOPE Centers, Banking on our Future, and a special fund benefiting Hurricane Katrina survivors. We appreciate partnerships with individuals who care about the community, and we are excited to continue to improve access to banking systems and financial institutions in neighborhoods that need them."

For more than 18 years, HOPE has provided financial literacy and economic empowerment programs to underserved communities across America and abroad, making the free market system work for low-income individuals, families and communities in a Silver Rights Movement to eradicate poverty.