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January 01 2010

SunTrust Bank Makes $1,000,000 Commitment to Provide Economic Empowerment Services through HOPE

National partner provides leadership and vision in laying cornerstone of the flagship
HOPE Center located at Ebenezer Baptist Church in Atlanta

 
Atlanta, GA – November 23, 2010
– SunTrust Bank, Inc., in its continued support of financial literacy and economic empowerment nonprofit Operation HOPE, has committed $1,000,000 to providing leadership and support in building the flagship HOPE Center in Atlanta, GA. The Center, which broke ground earlier this year, will be housed at the Martin Luther King, Sr. Community Resource Facility at historic Ebenezer Baptist Church.  


“Magical things can happen when people of passion work together to accomplish a common goal,” said Operation HOPE Founder John Hope Bryant, who was recently appointed by the Obama Administration to serve on the President’s Advisory Council on Financial Capability. “SunTrust’s goal to empower the communities they serve is evident by their action. We are proud to have them as a partner.”

SunTrust has been instrumental for the past several years in helping HOPE provide the community with economic education and empowerment. In June 2009, HOPE hosted their first Global Financial Literacy Summit and SunTrust was an event sponsor.  In addition, SunTrust invited John Hope Bryant to their Baltimore headquarters in February to speak to executives on the principles from his bestselling book LOVE LEADERSHIP.

The Atlanta HOPE Center will become the flagship office for HOPE, providing financial case management and homeownership, small business and financial literacy programs to Atlanta and the entire Southeastern region of the country.

Commitment from SunTrust in providing time, treasure and talent to HOPE runs deep as a number of bank executives serve on several HOPE boards.  Chairman and Chief Executive Officer of SunTrust Banks Jim Wells is the newest member of the HOPE National Board. Southeastern Board Members include SunTrust’s Atlanta/Georgia Division CEO E. Jenner Wood, III; and IT Vendor Relations Manager Pernell Smalley.  J. Scott Wilfong, SunTrust’s Greater Washington Division CEO, sits on the Mid-Atlantic Board.

“SunTrust’s mission to help people and institutions prosper leads us to provide financial services that enhance individual’s lives and foster organizations’ growth,” said Wells. “Our partnership with Operation HOPE allows us to do that in a tangible and meaningful way.”

SunTrust’s involvement with the nonprofit revolves around their membership in the Financial Services Roundtable (the Roundtable), which signed a five-year framework agreement with the nonprofit at last year's HOPE Global Financial Literacy Summit. The agreement with the Roundtable -- an organization representing 100 of the largest integrated financial services companies in the United States -- demonstrates the financial services industry’s commitment to spreading financial literacy in underserved communities.
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About SunTrust

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 September 30, 2010, SunTrust had total assets of $174.7 billion and total deposits of $120.3 billion.  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 various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com

About Operation HOPE, Inc.
Since its founding in 1992, Operation HOPE's mission has been to promote "silver rights" and make free enterprise and capitalism work for the underserved. The social investment banking nonprofit has provided financial literacy and economic empowerment services to more than 1.2 million people, raised more than $500 million and helped to restructure more than $360 million in sub-prime mortgages from the private sector, for a total of approximately $900 million in economic activity for the disenfranchised. Follow Operation HOPE at www.operationhope.org, www.twitter.com/operationhope, and www.facebook.com/operationhope.