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July 01 2011

The Financial Services Roundtable and Operation HOPE Celebrate Second Anniversary of Landmark Financial Literacy Agreement

 

Partnership promotes financial literacy in an effort to build economic empowerment through C-Suite Leadership

 

Los Angeles -- July 1, 2011 -- June 17, 2011 marked the second anniversary of global financial literacy empowerment nonprofit Operation HOPE, Inc. (HOPE) and The Financial Services Roundtable's (Roundtable) landmark Framework Agreement. This five-year partnership outlines ten Partnership Principles designed to nurture C-Suite leadership around financial literacy, further integrate financial literacy into the “business case” of the financial industry, and in so doing to highlight the financial services industry's commitment to financial literacy through highly visible principles and efforts.

"I firmly believe that in this competitive global economy if you don’t have a bank account and a firm understanding of the language of money you truly are an economic slave," said Operation HOPE Founder, Chairman and CEO John Hope Bryant, who currently is a member of the U.S. President's Advisory Council on Financial Capability. "Our work with the Roundtable takes the concept of financial literacy and strives to make it a national priority."

"This framework agreement is a strategic partnership where we at the Roundtable have coupled the resources of our member companies and merged them together with the vision and the energy of Operation HOPE and our shared goal to provide financial literacy to every American," said Roundtable President and CEO, Steve Bartlett.

Through Roundtable leadership, and the participation of its member companies: LPL Financial, MasterCard Worldwide, State Farm Insurance Companies, SunTrust Banks Inc. and Wells Fargo & Company (partial listing),HOPE began construction in April 2010 on its Financial Literacy Empowerment Center to be housed at the Martin Luther King, Sr. Community Resource Complex at Ebenezer Baptist Church in Atlanta, GA.

Second Anniversary Operation HOPE/The Financial Services Roundtable Framework Agreement milestones include:

- Roundtable member companies provided 33,772 volunteers delivering financial literacy programs throughout the country

- The Roundtable is a Supporting Partner of the HOPE New York Financial Literacy Forum: The Rebirth of America, Post Economic Crisis on July 22, 2011 hosted at NYSE Euronex

- During Financial Literacy Day, April 15, 2011 on Capitol Hill, HOPE and the Roundtable presented a joint letter, supporting congressional financial literacy bills sponsored by U.S. Congressman Emanuel Cleaver, U.S. Congressman Andre Carson and U.S. Senator Daniel Akaka. The letter can be read here

Actively supported legislation promoting federal funding for financial literacy programs:

-U.S. Senator Patty Murray S. 787: Financial and Economic Literacy Improvement Act of 2011; Highlights opportunities to develop financial literacy programs in elementary and secondary schools.

-U.S. Senator Kay Hagan S. 853: Financial Literacy for Students Act of 2011; Highlights opportunities for financial literacy and entrepreneurship in middle and secondary schools, along with teacher training.

-U.S. Senator Daniel Akaka S.RES.121: A resolution designating April 2011 as “Financial Literacy Month;” 

-U.S. Congressman Andre Carson H.R.300: Young Adults Financial Literacy Act; Highlights opportunities with institutions to support research, development and implementation of financial education for young adults and families.

-U.S. Congressman Emanuel Cleaver H.R.626: Financial Literacy for Youth Act of 2011; Highlights opportunities in state and local agencies to develop programs in elementary and secondary schools

Stemming from the need to encourage C-Suite leadership and making the business case for financial literacy, the partnership promotes the need for all individuals to have a basic understanding of financial literacy and advocates making it a national priority.

To view the original Framework agreement signed on June 17, 2009 at the Operation HOPE Global Financial Literacy Summit, please click here.

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About the Roundtable
The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer.  Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. 

Roundtable member companies provide fuel for America's economic engine, accounting directly for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

About Operation HOPE
Founded in 1992, social empowerment nonprofit Operation HOPE's mission is to expand economic opportunity in under-resourced communities through financial literacy education. HOPE promotes "silver rights" - making free enterprise and capitalism relevant and effective for the underserved. Raising more than $500 million and directing and restructuring nearly $500 million more in mortgages and economic support from the private sector, for a total of approximately $1 billion dollars in economic activity, HOPE seeks dignity and empowerment for all. Follow Operation HOPE on our websiteand through Social Media at our Blog, on Twitterand Facebook, as well as Flickrand YouTube.