NEW YORK, Sep 22, 2010 - E*TRADE Bank announced its continued commitment to improving financial literacy and education in low income and minority communities with a new $2 million, 15-month pledge to Operation HOPE (HOPE), an international non-profit dedicated to delivering financial education, access and empowerment to the underserved.
The commitment will support Operation HOPE's programs including: Banking on Our Future (BOOF) and BOOF.org -- educational programs providing banking, savings, credit and investing concepts to students age 9-18 in the classroom and online; Operation HOPE's network of HOPE Centers, offering residents in low-income communities financial education and guidance, as well as support obtaining bank, savings and credit accounts, and home and small business loans; and other programs.
To recognize E*TRADE's commitment, which marks its tenth year supporting the organization, Operation HOPE hosted a reception at the Harlem HOPE Center located at 2511 Frederick Douglass Boulevard, New York on Monday, Sept. 20, 2010.
The event featured numerous New York City business and community leaders, including: Deputy Commissioner of the Department of Consumer Affairs, Cathie Mahon; Founder, Chairman and CEO of Operation HOPE, John Hope Bryant; E*TRADE Securities President, Michael Curcio; E*TRADE VP of Bank Compliance, Celie Niehaus; and Operation HOPE First Senior Vice President and Global Chief of Financial Literacy, Mary Hagerty, among others. Local community members and volunteers were also present to discuss - and raise awareness of - the need for greater financial education, service and access in low-income and minority communities.
"As a financial services provider, E*TRADE is a proud supporter of Operation HOPE's mission to educate Americans of all ages about the basics of banking and investing," said E*TRADE's Celie Niehaus. "Millions of consumers continue to use expensive check-cashing centers, have little-to-no savings, poor credit, and limited access to loans and mortgages. Operation HOPE and its network of volunteers are changing that by delivering education, technology and greater access to banking and financial institutions."
"This renewed contribution demonstrates E*TRADE's steadfast commitment and active approach to supporting low-income communities," said Operation HOPE's John Bryant. "In the last 10 years, E*TRADE's support has helped Operation HOPE launch the Washington, DC and Harlem-based HOPE Centers, Banking on our Future, and a special fund benefitting Hurricane Katrina survivors. We appreciate partnerships with individuals who care about the community, and we are excited to continue to improve access to banking systems and financial institutions in neighborhoods that need them."
For more than 18 years, HOPE has provided financial literacy and economic empowerment programs to underserved communities across America and abroad, making the free market system work for low-income individuals, families and communities in a Silver Rights Movement to eradicate poverty.
About E*TRADE Financial
The E*TRADE Financial family of companies provides financial services including online brokerage and related banking products and services to retail investors. Specific business segments include Trading and Investing and Balance Sheet Management. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Bank products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
About Operation HOPE, Inc.
Since 1992, Operation HOPE has shouldered the responsibility of providing financial literacy and economic empowerment to underserved communities, making the free market system work for low-income individuals, families and communities. With a presence in 70 U.S. cities and South Africa, HOPE has raised more than $500 million and helped to restructure more than $360 million in sub-prime mortgages from the private sector, for a total of approximately $900 million in economic activity for the disenfranchised in its pursuit of educating, assisting and inspiring the next generation of global stakeholders. With the support of more than 400 private sector companies such as E*TRADE, 3,500 nonprofit organizations and schools and 100 government partners, Operation HOPE has provided over 1.2 million low-wealth individuals with economic education and financial literacy support and empowerment. To learn more about HOPE, visit www.operationhope.org or read our blog at www.operationhope.org/ blog.