January 01 2007
Charles Schwab Invests in Operation HOPE
Banking on Our Future Offices in San Francisco Bay Area and Denver Targeted to Receive Funds
LOS ANGELES—December 27, 2007—Operation HOPE’s commitment to educating youth through teaching financial literacy has led to a $25,000 award from Charles Schwab Foundation. The contribution is earmarked to support HOPE’s award-winning Banking on Our Future (BOOF) program through its offices in Denver, Colorado and Northern California.
HOPE Founder and Chairman John Hope Bryant notes, “We applaud Charles Schwab Foundation\'s commitment to silver rights -- HOPE\'s mission to empower underserved communities through financial literacy. Through Schwab’s support we will be better able to help impact the lives of hundreds of youth. We believe that through silver rights we are getting closer to the dream of forging a more equitable society."
Charles Schwab Foundation focuses its resources on making a difference in the community through support of programs that promote financial literacy as well as support and encouragement of Schwab employee philanthropy.
“Our hope is to improve the financial well-being of Americans through a combination of community outreach, consumer education and the highest level of business ethics," says Carrie Schwab Pomerantz, president of Charles Schwab Foundation. "Supporting the Banking On Our Future program is in line with our goal to help the next generation master the knowledge they’ll need to deal with the financial complexities and challenges they’ll face as adults ."
Banking on Our Future is a critical component of HOPE’s “silver rights” mission to eradicate poverty, using financial literacy to enlighten and inspire low wealth residents. Geared toward students age 9 – 18, the curriculum is unilaterally applicable to all school systems at no cost. In 2001, the program became a recipient of Oprah Winfrey’s “Angel Network Use Your Life Award,” as well as the U.S. Treasury Department’s John Sherman Award for Financial Literacy Excellence.
HOPE’S Oakland-based BOOF program has already educated 4,000 students, using some 350 trained volunteers to deliver the curriculum. HOPE also plans to educate 25,000 Denver area students by 2010. With the support from private-sector partners like Schwab, the goal is to invest over $1 million dollars in financial literacy education instruction and training in and for the Denver Public School system.
About Charles Schwab Foundation
Funded by The Charles Schwab Corporation, Charles Schwab Foundation is committed to giving back to the community by supporting employee-selected causes and fostering financial literacy through funding, involvement and expertise.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of financial services, with more than 300 offices and 7.0 million client brokerage accounts, 1.2 million corporate retirement plan participants, 247,000 banking accounts, and $1.4 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial! planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at www.schwab.com.