March 04 2014
American Bankers Association and Operation HOPE Launch National Collaborative Agreement to Maximize Youth and Adult Empowerment
Collaboration boosts goals for HOPE’s Project 5117 and pledges for both ABA and HOPE’s Clinton Global Initiative America Commitments to Action in support of financial capability, entrepreneurship and economic empowerment
Washington – March 4, 2014 – The American Bankers Association and global financial dignity leader Operation HOPE (HOPE) announced today an unprecedented new partnership fortifying the efforts of both organizations in expanding financial literacy empowerment, economic energy, and good credit for youth and adults over the next two years.
“After working to support each other’s work for years, we are excited to work collectively to take each other’s programs and initiatives to scale and implement solutions that will sustain economic recovery in the United States,” said John Hope Bryant, founder, chairman and CEO of HOPE. “We are very proud to work with the American Bankers Association to empower Americans both young and old, with a better understanding of how to take control of their financial future.”
This allegiance formalizes the long-time relationship between HOPE and ABA. In 2004, Donald Ogilvie, then president and CEO of ABA, joined Bryant in a New York classroom for a Teach Children to Save lesson. Since 1997, six million students have been reached through ABA’s signature education programs, Teach Children to Save, Get Smart About Credit, and the Lights, Camera, Save video contest.
“We are thrilled to officially partner with HOPE,” said ABA President and CEO Frank Keating. “Together, we will make great strides in providing the tools and resources necessary to advance financial education across the country.”
ABA will promote and highlight HOPE’s youth and adult programs, which include HOPE Inside, HOPE Inside Plus, and HOPE Business In A Box Academies, working towards’ HOPE Project 5117 six year goals. HOPE will encourage participation in ABA’s Teach Children to Save and Get Smart About Credit programs. Both will collaborate on financial literacy advocacy and work together to build a lesson for banker volunteers to use in their presentations featuring ABA’s Get Smart About Credit and HOPE presentations. In addition, both organizations will participate in events and activities in targeted regions to highlight and promote the partnership.
The ABA and HOPE will work together to provide mutual support for their respective Clinton Global Initiative America Commitments to Action. Both organizations seek to fulfill economic empowerment and entrepreneurship commitments to the Clinton Global Initiative, a program established by former President Clinton which convenes leaders to create and implement innovative solutions for economic growth, longterm competitivenes and social mobility in the United States of America.
Project 5117 is HOPE’s multi-year initiative, which seeks to continue Dr. Martin Luther King’s efforts to eradicate poverty. With the support of the ABA, HOPE will expand delivery of programs aimed at financial Inclusion and empowerment, focusing on the stemming the dropout epidemic by providing financial inclusion education to five million youth, empowering one million young entrepreneurs through HOPE Business In A Box Academies, and helping families in underserved communities achieve a 700 credit score.
About American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $14 trillion banking industry and its two million employees. The majority of ABA’s members are banks with less than $185 million in assets. Established by the American Bankers Association in 1997, Teach Children to Save has reached more than six million young people through the commitment of 130,500 banker volunteers. Learn more at aba.com.
About Operation HOPE, Inc.
Founded in 1992 and headquartered in Los Angeles, Operation HOPE promotes financial dignity through the delivery of financial inclusion and education tools to underserved communities. Through its three core divisions and HOPE Financial Dignity Forum, the organization has provided youth and adult financial literacy, economic preparedness, digital empowerment, promoted home ownership, and assisted with foreclosure prevention to more than 2 million individuals, families, and small business owners. HOPE's next phase will be focused on Project 5117, a multi-year initiative that will track and increase business role models for youth, boost credit scores for adults, and empower underserved communities. To learn how you can join Project 5117, go to www.operationhope.org/p5117mission or visit www.operationhope.org to learn more.
About the Clinton Global Initiative
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI), an initiative of Bill, Hillary & Chelsea Clinton Foundation, convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges. CGI Annual Meetings have brought together more than 150 heads of state, 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and NGOs, major philanthropists, and members of the media. To date, members of the CGI community have made more than 2,800 Commitments to Action, which are already improving the lives of more than 430 million people in over 180 countries. When fully funded and implemented, these commitments will be valued at $103 billion.