The award-winning HOPE Inside program at the West Broadway U.S. Bank branch offers access to financial coaching services for unbanked and underbanked Minneapolis residents at no cost.
MINNEAPOLIS, Dec. 7, 2023 /PRNewswire/ — Operation HOPE and U.S. Bank announced today the remodeling of its ‘HOPE Inside’ Minneapolis location adjacent to the bank’s 1030 W. Broadway Avenue branch. The award-winning HOPE Inside program, a partnership between U.S. Bank and Operation HOPE, offers free financial coaching services and focuses on the economic empowerment of low- to moderate-income individuals, families, and small business owners in underserved communities.
The U.S. Bank West Broadway branch was damaged during the civil unrest in May of 2020. During the branch rebuild, a dedicated space was donated to the HOPE Inside program, allowing added coaches to be co-located with the branch and provide independent service hours to clients. In 2023, U.S. Bank and Operation HOPE agreed to remodel the space.
“The remodeling of the HOPE Inside space is a way to honor and value the communities of Minneapolis,” said Montinee Pongsiri, senior vice president for Consumer and Business Banking Strategy at U.S. Bank. “The updates provide additional resources and a meeting place for the community outside of the branch.” The HOPE Inside investment continues U.S. Bank Access Commitment®, the bank’s long-term approach to help close the wealth gap for underserved communities.
Each HOPE Inside location provides communities with free credit and money management education and one-on-one financial coaching with a trained and experienced financial coach. The HOPE Inside Minneapolis location is one of nine locations across six states that Operation HOPE and U.S. Bank operate across the U.S. During the first full year of operation, the HOPE Inside Minneapolis location has conducted over 1,200 financial coaching sessions to residents and businesses in underserved Minneapolis.
Operation HOPE is a nonprofit founded by John Hope Bryant in 1992 following the Los Angeles uprisings. The organization’s mission is to disrupt the cycle of poverty by improving the financial wellness of millions of low-income and moderate-income families across the nation, focusing on financial dignity and inclusion. Through its award-winning HOPE Inside model, the organization equips young people and adults with financial tools and education to help secure a better future. All programs and services are offered at no cost to the client and are not exclusive to U.S. Bank members.
HOPE Inside programming includes credit and money management, including various consumer credit counseling certifications such as the Consumer Financial Protection Bureau (CFPB) and FDIC, among others. The HOPE 700-Credit-Score-Communities initiative supports participants in raising their credit scores to 700, a threshold for establishing good credit. Three-hour workshops are held one Saturday morning each month at HOPE Inside locations. Program participants completing a workshop can schedule a private coaching session to get one-on-one advice and continue improving money management skills. Multiple in-person and virtual workshops are available for free.
According to anonymized data from the HOPE Community Credit Score Index, the average resident credit score data within the 55411 zip code – where the W. Broadway HOPE Inside office is located – is 643. The U.S. national credit score (Vantage Score) average is 698. In partnership with U.S. Bank, the goal of HOPE Inside is to improve these local statistics through hands-on coaching and counseling and increase access to resources.
For more information about HOPE Inside, click here.
About Operation HOPE, Inc.
Since 1992, Operation HOPE has been moving America from civil rights to “silver rights” with the mission of making free enterprise and capitalism work for everyone—disrupting poverty for millions of low and moderate-income youth and adults across the nation. In 2023, Operation HOPE was named to Fast Company’s World Changing Ideas Award for pursuing innovation for good. Through its community uplift model, HOPE Inside, which received the Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $3.2 billion in economic activity into disenfranchised communities—turning check-cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners, minimum wage workers into living wage consumers, and uncertain disaster victims into financially empowered disaster survivors. Operation HOPE recently received its eighth consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability from the prestigious non-profit evaluator, Charity Navigator. For more information: OperationHOPE.org. Join the conversation on social media at @operationHOPE.
About U.S. Bank
U.S. Bancorp, with approximately 75,000 employees and $668 billion in assets as of September 30, 2023, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2023 World’s Most Ethical Companies and Fortune’s most admired superregional bank. To learn more, please visit the U.S. Bancorp website at usbank.com and click on “About Us.”
Contacts:
Lalohni Campbell, Per/Se Media Group
LA@persemediagroup.com | 404-593.7145
Evan Lapiska, U.S. Bank Public Affairs and Communications
Evan.lapiska@usbank.com | 612.303.9122