Welcome!

News Feed Item

Fulton Financial Corporation Creates Fulton Forward(TM); Announces Fulton Bank Alliance With Operation HOPE

Organizations to Work Together to Promote Financial Literacy, Homeownership, and Financing for Underserved Individuals and Communities

LANCASTER, PA -- (Marketwired) -- 09/22/16 -- Fulton Financial Corporation (NASDAQ: FULT) today announced the creation of Fulton Forward™, the Corporation's initiative to further promote the building of vibrant communities through programs, products, and services, designed to foster affordable housing, drive economic development, and promote education and financial literacy in the neighborhoods served by its banking subsidiaries.

In a related announcement, Fulton Financial Corporation announced the formation of an alliance between the Corporation, its banking subsidiary, Fulton Bank, N.A., and Operation HOPE, Inc., a global financial dignity and economic empowerment nonprofit. The alliance will provide credit and money management counseling, as well as funding assistance to underserved individuals and communities in its market footprint in an effort to promote homeownership.

"An important part of our Fulton Forward™ initiative is partnering with great organizations like Operation HOPE that share our goal of promoting home ownership to low- and moderate-income and minority individuals and communities," said E. Philip Wenger, chairman, president and CEO of Fulton Financial Corporation.

"Operation HOPE is pleased to be part of this advancement of Fulton's efforts to impact and uplift disenfranchised communities," said John Hope Bryant, founder, chairman and CEO of Operation HOPE. "This new alliance will allow Operation HOPE to expand the breadth of its geographic reach, to teach people the language of money, transform financial mindsets, and give people the tools they need to develop plans to move their lives forward by raising their credit scores, buying homes, or simply making better decisions with the money they have."

Under the terms of the alliance with Operation HOPE, the entities will combine efforts in the following ways:

  • Fulton Financial will increase its emphasis on financial literacy by offering HOPE Inside, a variety of financial dignity and empowerment counseling programs that will be provided free to clients at local Fulton Bank branches. As part of this initiative, Operation HOPE will locate a member of its team in certain branches, with increasing coverage over time. Initially, Operation HOPE's Financial Wellbeing Coaches will be located at Fulton Bank's downtown Reading, PA branch to assist potential mortgage customers, on an as-needed basis, with financial literacy training and credit rehabilitation services. FFC has already held 45 seminars for first-time homebuyers this year.
  • Also, as part of its Fulton Forward™ initiative, Fulton Bank and Operation HOPE are collaborating on the launch of a Closing Cost Assistance Program that is designed to boost home affordability. Under this program, eligible borrowers will receive grants of up to $2,500 toward closing costs, including down payment assistance. The program will be available in all of the communities served by Fulton Bank in Pennsylvania, Delaware, and Virginia. The HOPE Inside initiative noted above will provide additional referrals to this program. In conjunction with the launch of the program, Fulton Bank, N.A. has also made a charitable contribution to Operation HOPE to support Operation HOPE's efforts in underserved communities.

The Fulton Closing Cost Assistance grants can be paired with Fulton Bank products that are also designed to provide benefits specific to underserved individuals and communities, including Fulton's recently enhanced Homebuyer Advantage Plus® (HBAP) mortgage loan product. The combination provides greater opportunities for potential customers to gain approval for a mortgage due to reduced qualification requirements and increased funding. Through July 31 of this year, Fulton Bank has already seen a 200 percent increase in new HBAP loans, year-over-year, and in July of this year, new HBAP loans were three times that of July 2015.

The Fulton Forward™ initiative, and the alliance with Operation HOPE, were established for the purpose of enhancing FFC's focus on lending to underserved communities and individuals. These efforts are part of FFC's broader Fair and Responsible Banking strategy. Community outreach has long been a cornerstone of FFC's business model, and today's actions further the company's efforts to reach the broader communities served by the Corporation.

Fulton Financial Corporation is a Lancaster, Pennsylvania-based financial holding company that has banking offices in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through the following affiliates, headquartered as indicated: Fulton Bank, N.A., Lancaster, PA; Swineford National Bank, Middleburg, PA; Lafayette Ambassador Bank, Bethlehem, PA; FNB Bank, N.A., Danville, PA; Fulton Bank of New Jersey, Mt. Laurel, NJ; and The Columbia Bank, Columbia, MD.

Residential mortgage lending is offered by all banks under the Fulton Mortgage Company brand.

For additional information on Fulton Forward™, visit: www.fult.com/fultonforward

Operation HOPE, Inc. (HOPE) is moving America from civil rights to "silver rights" with the mission of making free enterprise and capitalism work for the underserved. Since 1992, through its core programs, the nonprofit has provided financial dignity and economic empowerment to over 2.6 million individuals worldwide, and $2 billion in economic activity for the disenfranchised -- turning check cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners and minimum wage workers into living wage consumers.

Project 5117 is HOPE's multi-year four-pronged approach to combating economic inequality that aims to improve financial literacy, increase business role models and business internships for youth, and stabilize the American dream by boosting credit scores. Operation HOPE recently received its second consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability by the prestigious non-profit evaluator, Charity Navigator -- further establishing it as a best-in-class organization.

For additional information, visit: www.operationhope.org

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3059343

Contacts:

Laura J. Wakeley
717-291-2616
Fulton Financial Corporation/Fulton Bank, N.A.

Caryn I. Anderson
404-660-0573
Operation HOPE

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
SYS-CON Events announced today that CDS Global Cloud, an Infrastructure as a Service provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CDS Global Cloud is an IaaS (Infrastructure as a Service) provider specializing in solutions for e-commerce, internet gaming, online education and other internet applications. With a growing number of data centers and network points around the world, ...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...