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November 24 2010

RBC Bank Becomes First Founding Sponsor of Operation HOPE Consumer Credit Crisis Hotline

$15,000 contribution goes towards credit restoration and support counseling for underserved and under-resourced individuals

 

Atlanta, GA – November 24, 2010 – Operation HOPE announced the addition of RBC Bank (USA) as the first national sponsor of the HOPE Consumer Credit Crisis Hotline (HCCCH). By sponsoring the hotline with a $15,000 commitment, the financial institution assists HOPE on their mission to help American families struggling in this financial crisis with “a hand up and not a hand-out.”

HOPE Coalition America started the consumer credit hotline in 2010 as a sister service to the Mortgage HOPE Crisis Hotline (MHCH). Jointly, the two hotlines have fielded over 100,000 calls, aiding consumers in financial and mortgage counseling.  

“Moving from the effects of the sub-prime mortgage crisis, HOPE anticipates that the next wave of financial difficulties in this country will be within the context of general consumer credit,” said Operation HOPE President and COO Bill Walbrecher. “Helping consumers navigate the world of credit cards, auto loans, student loans and other forms of unsecured consumer credit is another HOPE educates help our customers in the ‘language of money.’”
    
The hotline is staffed by consumer credit experts, providing credit support to consumers nationwide trying to survive during the current financial crisis.

“RBC Bank is committed to helping consumers become better informed at how the banking community can better serve them,” said Reggie Davis, president of RBC Bank. “Once we saw Operation HOPE’s commitment to providing financial literacy education to the greater community, we knew this was something we wanted to be a part of.”

Through MHCH and HCCCH, Operation HOPE encourages individuals and their families who are approaching a financial breaking point in their lives to reach out to us pro-actively, before serious financial cracks appear, so that we can work with them to help improve their financial picture and speak with their various credit providers before they are overwhelmed with unmanageable debt.

RBC Bank’s support of the consumer crisis hotline demonstrates their desire to provide financial education for individuals in easy to access ways and support credit restoration for individuals struggling in these economic times.

RBC Bank’s involvement started when bank executives learned about the nonprofit’s mission to provide financial literacy and economic empowerment services to under-resourced communities through the Financial Services Roundtable. The Roundtable, who signed a five-year framework agreement with HOPE in 2009, actively promotes the nonprofit and is committed to providing financial literacy education with them. The Roundtable is an organization that represents 100 of the largest integrated financial services companies in the United States.