Operation HOPE, a national nonprofit organization, recently celebrated the 159th anniversary of the Freedman’s Bank by announcing the expansion of its HOPE Inside locations. This milestone marks the addition of four new branches in Sacramento, Kansas City, Tampa, and Minneapolis, bringing the total number of offices to nearly 300 across the U.S.
Established in 1992, Operation HOPE aims to empower low- and moderate-income Americans by providing no-charge financial coaching services through its HOPE Inside locations. These services help individuals navigate the complexities of the financial system and improve their financial well-being.
The history of the Freedman’s Bank, established by President Abraham Lincoln in 1865, serves as an important legacy for the organization. Through its dedicated efforts, Operation HOPE is working to advance the unfulfilled legacy of the Freedman’s Bank by delivering financial coaching services, raising credit scores, reducing debt, and increasing savings for its clients.
In 2023, Operation HOPE saw significant growth in its HOPE Inside locations, with a 19% increase reaching a total of 285 offices. This expansion led to impressive results, including delivering over 278,000 financial coaching services, raising credit scores by an average of 41 points, and reducing median client debt.
Moreover, Operation HOPE secured $130.7 million in funded mortgages for low- and moderate-income homebuyers, as well as supported over 220,000 unique Black-owned businesses through its 1 Million Black Businesses initiative. Additionally, the organization helped its clients access $54 million in capital for small businesses, personal loans, and lines of credit.
Through its community uplift model, HOPE Inside, Operation HOPE has made a significant impact on disenfranchised communities by directing over $4.2 billion in economic activity and serving more than 4 million individuals. This transformative work has turned check-cashing customers into banking customers, renters into homeowners, and minimum wage workers into financially empowered consumers.
For more information about Operation HOPE and its initiatives, you can visit OperationHOPE.org. Join the conversation and stay updated on the organization’s latest developments.
Contact:
Kevin Boucher
Lalohni Campbell
Image: [Operation HOPE Logo]
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