August 17 2011
Clark Atlanta University Announces Major Financial Services, Literacy Initiative
University’s Programming in Partnership with Operation HOPE to Support White House Financial Capability Aims
ATLANTA (AUG. 16, 2011)—Clark Atlanta University (CAU) President Carlton E. Brown this month announced that the University will partner with Operation HOPE this fall to launch the Initiative for Entrepreneurial Development and Empowerment through Financial Literacy, a program that aligns with the goals and purposes of the U.S. President’s Advisory Council on Financial Capability and supports President Barack Obama’s goal to achieve primary status worldwide in the production of college-educated population.
“Consumer protection is the government’s job. But consumer empowerment? is the job of free enterprise,” said Operation HOPE Founder, Chairman and CEO ?John Hope Bryant. “We believe that students across all disciplines must become equipped to develop and operate innovative enterprises and small businesses and to employ themselves and others. It is essential to the growth of the American economy.”
The initiative, which will be supported through funding secured from public and private sources by Operation HOPE and the White House Initiative on HBCUs, comprises two tracks:
- The student empowerment track will fully integrate FDIC financial literacy materials into the University’s curriculum. In addition, the initiative will assemble and train a team of students, the CAU/HOPE Corps for Disaster Preparedness, who will respond to emergent situations to help individuals, businesses and communities recover from the impact of financial and economic disaster, including opportunities to enhance financial literacy in the process.
- The second track, CAU/HOPE will offer resources for CAU alumni, including a free financial crisis hotline through the Mortgage HOPE Hotline and HOPE Consumer Credit lines (888-388-HOPE). This track also will offer resources, including the free hotline services as well as earned income tax credit, to CAU employees.
“Clark Atlanta University’s students, alumni, employees and local residents cannot move more fully into the new economies, or play a larger role in the advancement of their own education and fortunes, without an intense and effective approach to increasing financial literacy, as well as expanding the available skills and dispositions toward invention and entrepreneurship,” President Brown said. “This initiative, and our partnership with Operation HOPE and its founder John Hope Bryant, unfolds the possibility of this critical change.”
Founded in 1992, social empowerment and nonprofit Operation HOPE’s mission is to expand economic opportunity in under-resourced communities through financial literacy education. HOPE promotes “silver rights”—making free enterprise and capitalism relevant and effective for the underserved. Raising more than $500 million and directing and restructuring nearly $500 million more in mortgages and economic support from the private sector, for a total of approximately $1 billion in economic activity, HOPE seeks dignity and empowerment for all.