July 25 2013
Citi Foundation Committed to Financial Emergency Preparedness
The Citi Foundation is the only private sector HOPE partner in Special Financial Emergency Preparedness and Disaster Recovery Program
NEW YORK –July 25, 2013 – Operation HOPE’s division for financial emergency preparedness and disaster recovery, HOPE Coalition America (HCA), today reported that the signature program Disaster Financial Recovery Seminars (DFRS), supported by the Citi Foundation, has surpassed its goal by educating more than 2,600 individuals.
The Citi Foundation committed a total of $300,000, becoming the first and only private sector partner to help families to prepare for the devastating impact on personal finances in the event of a man-made or natural disaster, including those impacted by Superstorm Sandy, with long-term financial recovery strategies.
Citi’s support enabled 56 financial preparedness training sessions to take place at HOPE Centers in Atlanta, GA, New York, NY, Los Angeles, CA, Long Beach, CA, Maywood, CA, Miami, FL, New Orleans, LA, Oakland, CA and Washington, DC.
Since August of 2012, Financial Preparedness Training Sessions were held to teach people how to be prepared in case of emergency. By completing the HOPE Emergency Financial First Aid Kit (EFFAK) and the Personal Disaster Preparedness Guide (PDPG), participants are able to organize financial and personal information, review their assets, establish and maintain a budget and ensure access to personal financial information in case of an emergency or disaster. Individuals learn the steps they should take prior to an emergency to protect their assets, including preparing a disaster recovery budget, reviewing insurance coverage, and creating an emergency fund.
In June 2013, the Citi Foundation committed $150,000 of the monies to support the long-term financial recovery of Superstorm Sandy survivors.
“We are pleased to have the Citi Foundation’s support in helping us help all Americans to be prepared before disaster strikes. An increasing number of disasters in 2013 have had incredible impact on the financial health and stability of family’s across the U.S.,” said HOPE Coalition America President Fred D. Smith. “Having a plan for financial recovery facilitates your recovery after a disaster strikes. The Citi Foundation has helped us make this possible for hundreds of families.”
“This latest funding for Operation HOPE is part of the Citi Foundation’s continued support of the relief and recovery efforts targeting the hardest hit communities following Superstorm Sandy,” said Brandee McHale, Chief Operating Officer of the Citi Foundation. “We understand that it will take time for many individuals and families to fully recover from Sandy’s devastating physical and financial impact. The ongoing assistance from organizations like Operation HOPE remains vital to helping families cope with the financial challenges they face as they rebuild their lives.”
To learn more or participate in a Financial Preparedness Seminars contact: Jason Yancey at 866-690-1596 ext. 239
About Operation HOPE (HOPE)
Since its inception in 1992, HOPE, a global nonprofit focused on financial dignity, has empowered more than 2 million individuals and directed more than $1.5 billion in private capital to America's low-wealth communities. It has recruited a growing army of 20,000 HOPE Corps volunteers, and helped raise average credit scores for financial case management clients more than 120 points over an average 18-month period. It currently serves more than 300 U.S. cities, as well as South Africa, Saudi Arabia, Morocco, and most recently, the United Arab Emirates. Its effort to empower underserved communities is a “silver rights” mission to make free enterprise work for everyone. To learn more about HOPE, visit our blog or follow us on Facebook
About the Citi Foundation
The Citi Foundation is committed to the economic empowerment and financial inclusion of low- to moderate-income individuals and families in the communities where we work so that they can improve their standard of living. Globally, the Citi Foundation targets its strategic giving to priority focus areas: Microfinance, Enterprise Development, College Success, and Financial Capability and Asset Building. In the United States, the Citi Foundation also supports Neighborhood Revitalization programs. The Citi Foundation works with its partners in Microfinance, Enterprise Development, and Neighborhood Revitalization to support environmental programs and innovations. Additional information can be found at www.citifoundation.com.