January 01 2008
U.S. Treasurer Cabral, Congresswoman Holmes Norton Encourage DC Residents to 'Get Financial' Through HOPE's Landmark Partnership with Federal Credit Union
Treasury Department Becomes First Federal Credit Union to Sponsor Operation HOPE Within Their Facilities; Partnership Seeks to Empower Washington Area Residents and Encourage Saving
WASHINGTON, DC-- January 29, 2008 --The Treasury Department Federal Credit Union (TDFCU) has officially signed on to Operation HOPE's (HOPE) financial literacy movement.
Joined by U.S. Treasurer Anna Cabral, Treasury Deputy, Assistant Secretary for Financial Education Dan Iannicola, Jr., Congresswoman Eleanor Holmes Norton, and National Credit Union Administration (NCUA) Chairman JoAnn Johnson, TDFCU Chairman Paul Gist and HOPE Founder John Hope Bryant announced that the credit union will begin providing space and support for a "HOPE Inside" partnership.
Under the theme, "Get Your Money Straight In '08," TDFCU will team on a regional scale with the Los Angeles based non-profit, establishing a historic presence in their Washington, D.C. Paul J. Gist branch office, located at 1101 2nd Street NE in Ward 6. TDFCU current members, as well as consumers in the District of Columbia, will be encouraged to take advantage of the partnership's free economic tutelage, money management counseling and home ownership loan origination services. These services will extend to anyone who lives, worships, works or attends school in the district. TDFCU also plans to expand its presence in local classrooms, instructing young people on basic financial concepts through HOPE's award-winning Banking on Our Future program.
Lance Triggs, executive vice-president and chief of the HOPE Center Banking Network, is excited about the Treasury Department becoming the first federal credit union to partner with HOPE. "Working together, our goal is to significantly impact the area's underserved neighborhoods by educating individuals on the importance of financial literacy and entrepreneurship."
As an alternative to pay day lending or debt consolidation loans, TDFCU is prepared to assist individuals re-establishing themselves financially. Spotlighting the importance of saving, TDFCU will allow consumers who utilize HOPE's services to open a savings account with no money down. New members will then receive a one-time $10 deposit that will go towards maintaining the account. Through this partnership, TDFCU will provide first time homebuyers free individual services and seminars. In addition, HOPE will sponsor financial literacy seminars and offer additional resources through their Anacostia HOPE Banking Center office. Members and non-members can schedule an appointment via email at Hope@tdfcu.com, or by calling 800-344-4497. Counseling services are provided by appointment only Monday through Friday from 9 a.m. - 4 p.m.
With mortgage industry analysts estimating that over 1.5 million Americans are at risk of foreclosure, an important focus of the partnership will involve assisting homeowners with their subprime mortgage challenges. "Our relationship with Operation HOPE will add to the educational outreach programs our credit union is involved in," said TDFCU's president and CEO Alfred Scipio. "Treasury Department Credit Union has long been an advocate for its membership. Given the 'underserved' designation granted by NCUA in 2003, TDFCU feels that the partnership with Operation HOPE will provide a platform to offer additional services to the D.C. community at large. We feel that financial literacy is the key to making smart financial decisions. TDFCU supports programs because it helps people, young and old, make sound decisions with the resources they have available."
About Treasury Department Federal Credit Union
Founded in 1935, the Treasury Department Federal Credit Union (TDFCU) is a full service financial institution. Our purpose is to improve the quality of life of our members by providing affordable financial products and services. We offer superior financial solutions, unparalleled service and a variety of convenient access methods exclusively to members of our credit union. The more products and services you use, the greater the value you receive. To serve the financial needs of our members as a safe and sound cooperative financial institution under sponsorship of the Department of the Treasury, when you join TDFCU, you join one of the most consumer-oriented organizations you will find anywhere and become part of a prestigious group of individuals who deserve and appreciate quality financial products and services. We look forward to serving your financial needs and those of your family members. For more information about TDFCU products and services, visit us at www.tdfcu.org.