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June 26 2014

Operation HOPE and MasterCard Partner to Offer Your Money Smarter

Customized SMS budgeting and money management tips available to Operation HOPE clients

Purchase, NY – June 25, 2014 – Operation HOPE and MasterCard today announced the availability of the Your Money Smarter program to Operation HOPE (HOPE) clients.  Your Money Smarter is an SMS text-based financial education program that provides a unique method of learning about basic budgeting, spending and saving strategies.

Through the Your Money Smarter program, HOPE clients will be able to determine their spending personality and receive customized tips to maximize every dollar, simply by texting HOPE to 57320.*  

“Through the Your Money Smarter mobile texting program, Operation HOPE and MasterCard will be able to promote targeted responsible money management to more people, more quickly," said HOPE CEO, New York and Division President of Youth Empowerment Group Mary H. Ehrsam.  "Financial literacy is the key to making smart money decisions. We are pleased to join efforts with MasterCard to help people make sound decisions in managing their money.”

The program, offered in both English and Spanish, is a four-week SMS text-based financial inclusion and education program that delivers relevant financial tips that are customized to users’ money management styles, preferences and financial attitudes.  In May 2013, Your Money Smarter was recognized by the White House for making an important commitment to foster financial inclusion.

“We believe that a combination of education and access to electronic payments is a powerful way to help provide Americans more economic empowerment,” said Shawn Miles, senior vice president, Global Public Policy, MasterCard. “Teaching financial literacy is a key component to helping the unbanked and underserved learn about money and budgeting skills. This latest collaboration with Operation HOPE reinforces our shared commitment in this space.”

The announcement was made during a visit to the MasterCard offices in Purchase, NY by HOPE’s Founder, Chairman and CEO John Hope Bryant to discuss his new book, How the Poor Can Save Capitalism (Berrett-Koehler) with employees. 

Your Money Smarter is offered to consumers as part of HOPE’s Project 5117, an initiative that seeks to make a measurable difference in youth and adult financial empowerment nationwide.  It is supported by a national alliance with the U.S. Consumer Financial Protection Bureau, and with the ongoing support of the American Bankers Association and Protective Life.

By 2020, Project 5117 plans to move credit scores in underserved communities above 700 through training offered at HOPE Inside locations, and encourage youth entrepreneurship in schools through HOPE Business In A Box Academies, HOPE’s comprehensive training course.

MasterCard and Operation HOPE collaborated on several programs since 2008.  The company’s employees have volunteered for HOPE around the country and have helped boost adult financial education by providing a portion of the curriculum for HOPE’s Credit & Money Management Workshops.

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About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

About Operation HOPE

The mission of Operation HOPE, Inc. (HOPE) is silver rights empowerment, making free enterprise work for everyone.  It promotes financial dignity through the delivery of financial inclusion and education tools to underserved communities. Through its core divisions, 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.

*By texting “Hope” to 57320 and replying YES, you agree to enter the Your Money Smarter SMS program to receive weekly text tips up to 10 times per week for 4 weeks. Text STOP for stop and HELP for help to 57320 or emailyms@mastercard.com. Message and data rates may apply.

MasterCard Contact:           Robyn Cottelli – 914-249-1347, robyn_cottelli@mastercard.com

Operation HOPE Contact:   Sherry T. John  213-891-2908, sherry.john@operationhope.org