June 04 2013
SunTrust Promotes Financial Well-Being Through $1 Million Commitment to Operation HOPE
Community financial counselors to join select SunTrust Bank branches in Atlanta, Memphis
ATLANTA-June 4, 2013-- SunTrust Banks, Inc. (NYSE: STI) will add Operation HOPE financial counselors to select branches in Atlanta and Memphis, as part of its ongoing efforts to promote financial well-being. The company will make a $1 million cash and in-kind contribution to fund HOPE Inside, beginning this fall with a pilot branch in each city.
"Operation HOPE is a global leader for financial dignity, but more importantly, has proven to be effective in advancing financial literacy at the local level," said SunTrust Chairman and CEO Wiliam H. Rogers, Jr. "By funding counselors within our branches, we have a significant opportunity to help people understand their options and make better-informed financial decisions when faced with a variety of life's circumstances."
SunTrust has demonstrated a multi-year commitment to a variety of programs promoting financial well-being, including support for Operation HOPE's flagship Financial Dignity Center in Atlanta. The Atlanta Center provides services such as credit repair counseling, business entrepreneurship training, earned income tax credit eligibility, and financial literacy education. HOPE Inside will offer similar services.
"We value our partnership with SunTrust, and admire the company's help in lighting the way to financial well-being," said Operation HOPE Founder, Chairman and CEO John Hope Bryant. "The in-branch counselors allow us to put our "silver rights" mission – to empower the underserved – into practice at convenient locations with a trusted provider. There's perhaps no better place to impart financial literacy than at a local bank with a heart for the community."
About Operation HOPE
Since its inception in 1992, Operation HOPE, a global nonprofit focused on financial dignity, has empowered more than 2 million individuals and directed more than $1.5 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 March 31, 2013, SunTrust had total assets of $172.4 billion and total deposits of $129.9 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.