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December 08 2011

Operation HOPE Receives $2 Million Commitment from E*TRADE Bank

Funds help support financial literacy programs and the Gallup HOPE Index—a national survey to measure economic energy and job potential of American students

NEW YORK– Operation HOPE (HOPE), the global leader in financial dignity, today announced that it has received a $2 million one year commitment from E*TRADE Bank.  HOPE is dedicated to empowering underserved communities through financial education, technology and better access to banking institutions and services.

"This renewed contribution demonstrates E*TRADE's steadfast commitment and active approach to supporting low-income communities," said Operation HOPE's Founder, Chairman and CEO John Hope Bryant. “We appreciate partnerships with organizations that care about the community, and we are excited to continue our work to provide greater opportunity to make financial resources accessible in neighborhoods that need those most."

E*TRADE’s commitment will support youth and adult programs at centers in Washington, DC, and Harlem, NY, offering residents in low-income communities financial education and guidance in opening bank, savings and credit accounts, obtaining small business loans and becoming first time home buyers. The contribution will also be used towards HOPE’s award-wining youth financial literacy program, Banking on Our Future.

Additionally, E*TRADE’s financial commitment will provide a benchmark level of support for the Gallup HOPE Index, the first survey of its kind to measure the financial literacy and economic energy of U.S. students.  Findings will help educators factor in the voices of students when tailoring education curriculums and determining schooling interventions as well as, potentially becoming an initial forecast for the nation's Gross National Product(GNP) and job growth.

“E*TRADE is committed to giving back to the communities where we work and live, and we’ve been a proud supporter of Operation HOPE , specifically its mission to expand economic opportunity, for eleven years,” said Celie Niehaus, VP of Bank Compliance at E*TRADE. “Every person deserves access to financial tools and services, and the opportunity to own a home or small business. Operation HOPE and its network of volunteers are empowering individuals to take control of their financial futures by providing education and access to banking and financial institutions."

In the eleven years that E*TRADE has been supporting HOPE, the company has helped HOPE reach over 600,000 students through its Banking on Our Future classroom and online programs, create a fund benefiting Hurricane Katrina survivors, promote financial literacy issues through the HOPE New York Financial Literacy Forum, and lay the groundwork for the Gallup HOPE Index, which will ultimately sample more than 30 million students across America.

In 2012, HOPE will celebrate 20 years of providing financial dignity and economic empowerment programs to underserved communities across America and throughout the world, making the free market system work for low-income communities in a Silver Rights Movement to eradicate poverty and build dignity.

About Operation HOPE
Since 1992, nonprofit Operation HOPE has grown to become the global leader in financial dignity, providing financial literacy and empowerment services to underserved communities worldwide.  Through its four principle portfolios: Banking on Our Future, HOPE Coalition America, HOPE Financial Dignity & Literacy Empowerment Centers, and HOPE Corps, the organization addresses youth and adult financial literacy, economic preparedness, bridges the digital divide and promotes home ownership, assists with credit management and foreclosure prevention. With the support of more than 400 private sector companies, 5000 nonprofit organizations and schools and government partners, HOPE has reached over 1.5 million low-wealth individuals in 70 U.S. cities and South Africa. At the core of HOPE’s mission is a Silver Rights Movement, ensuring that free enterprise and capitalism work to provide a better future for underserved communities around the world. To learn more about HOPE, visit our blog or follow us on Facebook, Twitter and Youtube. For email updates, subscribe to the weekly HOPE Report.