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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 commitments to Clinton Global Initiative America in support of financial capability, entrepreneurship and economic empowerment

WASHINGTON, March 4, 2014 /PRNewswire-USNewswire/ -- 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 Mary H. Ehrsam, President of HOPE Global Youth Empowerment Group and CEO of the New York Market. "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 John Hope Bryant, HOPE founder, chairman and CEO 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 toward HOPE Project 5117's 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. Both organizations seek to fulfill economic empowerment and entrepreneurship commitments to the Clinton Global Initiative America, a program established by former President Clinton which convenes leaders to create and implement innovative solutions to social challenges.

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.

SOURCE American Bankers Association

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