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January 01 2010

New Grant Helps Operation HOPE Give a Hand Up Instead of a Hand Out

Grant fuels nonprofit’s ability to prevent foreclosures, reduce credit card debt and provide financial literacy
services in Michigan, Mississippi and New Mexico

(LOS ANGELES) March 18, 2010 – Financial literacy and social empowerment nonprofit Operation HOPE (HOPE) announced today a $400,000 grant from the W.K. Kellogg Foundation (Kellogg) to expand the nonprofit’s “silver rights” mission to eradicate poverty. The funding will be used to provide financial literacy education and promote economic education and financial security to underserved communities where brick and mortar services are not located.

“Our mortgage HOPE Mortgage Crisis Hotline, HOPE Consumer Credit Crisis Hotline and our Banking on Our programs are available to all communities across the nation,” said John Hope Bryant, Operation HOPE Founder, Chairman and CEO, and author of business bestseller, Love Leadership, in response to receiving the grant. “By allowing us to support efforts in Michigan, Mississippi and New Mexico, HOPE will be able to better service underserved Americans in these areas.

HOPE’s toll-free and online services will offer the following services: Foreclosure Prevention, Personal Mortgage and Financial Counseling Assistance, Debt Negotiation, Credit Card Debt Reduction, and online youth financial literacy, through Banking on Our

“With these targeted strategies for financial education and coaching, more low-income families can begin to improve their economic security,” said Anne Mosle, vice president for programs with the W.K. Kellogg Foundation. “We believe it’s also critical to reach young people to start early with financial literacy education and improve their futures.

The hotlines, staffed by certified foreclosure prevention and credit counselors, are HUD-approved and offer services at no-cost to consumers through the toll-free number at 1-888-388-HOPE. To date, the Mortgage HOPE Crisis Hotline and the HOPE Consumer Credit Crisis Hotline have received more than 122,000 calls for assistance from every state in the Union and delayed or prevented foreclosure on more than $300 million in mortgage loans.

In addition, HOPE’s award-winning youth financial literacy program, Banking on Our Future, will help empower students to take control of their financial futures on-the-ground and through the web-based program Utilizing HOPE Corps volunteers or the web-based curriculum, the program has educated and inspired nearly 450,000 students to date. Collectively HOPE has provided financial literacy assistance to more than 1.2 million individuals since its inception.