Operation HOPE announced today that Fifth Third Bank will open a HOPE Inside office in its Northwest Activity Center Branch, a busy community site which is visited by more than 100,000 Detroit residents each year. The 150-year old banking leader is the latest to join Project 5117, an initiative to empower the underserved.
HOPE Inside offices provide financial literacy counselors to deliver workshops and one-on-one client support at branch locations. The program is designed to teach the community and bank customers about building personal wealth and assets through programs such as, Credit Management, Homeownership Program and Small Business Development. HOPE Inside features a dedicated certified counselor who provides and coordinates a selected range of empowerment programs. All services are offered free of charge and available to the general public.
As supported by a national alliance with the U.S. Consumer Financial Protection Bureau (CFPB), and with the ongoing support of the American Bankers Association, the FDIC, Financial Services Roundtable, US Small Business Administration and the Mortgage Bankers Association, Project 5117 picks up where Dr. Martin Luther King Jr left off, more than 50 years ago. Led by co-chairs Dr. Bernice King, Ambassador Andrew Young and John Hope Bryant, the initiative seeks to make a measurable difference in youth and adult financial empowerment nationwide. By year 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 a comprehensive training course, HOPE Business In A Box.
Posted by Natasha Eldridge, HOPE Senior Fellow, Office of the Chairman