Comerica Bank Impacts Community Program with Second Stage of a two-year, $200,000 Commitment to Operation HOPE.Alliance Will Benefit HOPE "Banking on Our Future" Programs and "Silver Rights Movement" to Eradicate Poverty and Empower America's Wealthless LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Operation HOPE announced today that it received $100,000 as its second stage contribution to finalize a two-year commitment by Comerica Bank to support HOPE's financial literacy Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries including[1] Australia, Japan, the United States and the UK. program for youths and adults in Los Angeles and Detroit. Comerica Bank hopes to recruit volunteers for HOPE's ongoing "Silver Rights Movement," a national campaign to eradicate poverty through financial education and empowerment. "We applaud Comerica Bank's commitment to the empowerment of low-wealth communities. By working with Comerica Bank, HOPE has been making a positive impact on the lives of youths in the Detroit and Los Angeles communities and helping citizens in these locations prepare for financial emergencies," said HOPE Founder, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , John Hope Bryant John Hope Bryant (born February 6, 1966) is an American financial literacy and poverty eradication activist, founder of Operation HOPE, author, and the first African-American in history to be knighted by German nobility and the royal House of Lippe. . "We believe that through silver rights we will get closer to the dream of forging a more equitable society in America." Joining forces with Operation HOPE will strengthen Comerica Bank's mission to foster a sense of commitment to community and provide value to promoting strong customer relationships. Since it's founding in 1849 Comerica Bank has worked to help neighborhoods thrive by investing resources in community development. The bank is one of the 25 largest banks in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with 374 banking centers nationwide. "Comerica's collaboration with Operation HOPE presents an opportunity to promote financial literacy in Los Angeles and Detroit. It comes down to investing in the communities we serve, which is the best type of investment our bank can make," said James Garavaglia, senior vice president of Corporate Compliance and Public Affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. for Comerica Bank. "Comerica's community partnerships are an extension of our national commitment to relationship banking, with the ultimate goal of helping people to be successful." Silver Rights is manifested primarily through HOPE's three growing core financial literacy and assistance programs. The award-winning "Banking on Our Future" works through HOPE's dynamic network of HOPE Corps volunteers. In the past 10 years, over 190,000 youth have been educated. Volunteers also play an important role in delivering the financial reconstruction and emergency money management initiative for HOPE Coalition America, HOPE's financial emergency preparedness division - and partner with FEMA FEMA, n.pr See Federal Emergency Management Agency. , which recently successfully helped more than 4,300 Katrina victims recover over $6.6 million in EITC EITC Earned Income Tax Credit EITC Eastern Idaho Technical College EITC Emirates Integrated Telecommunication Company (UAE) EITC Education and Information Transfer Core EITC Electro/Information Technology Conference benefits. Inner-city banking locations called HOPE Centers, offer credit management and first time home-buyers programs. To date centers have obtained nearly $280 million in home loan and $10 million in small business loan approvals. All combined Operation Noun 1. combined operation - a military operation carried out cooperatively by two or more allied nations or a military operation carried out by coordination of sea, land, and air forces HOPE has become the nation's premier financial literacy provider, serving under-resourced communities nationwide. About Comerica Bank Comerica Bank is a subsidiary of Comerica Incorporated (NYSE NYSE See: New York Stock Exchange :CMA CMA - Concert Multithread Architecture from DEC. ), a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company headquartered in Detroit strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people be successful. Comerica bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, Canada and Mexico. Comerica reported total assets of $57.1 billion at June 30, 2006. To find out more about Comerica and its latest news visit http://www.comerica.com. About Operation HOPE Operation HOPE, Inc. is America's first nonprofit social investment bank and a national provider of financial literacy and economic empowerment programs. It works to bring self-sufficiency and a sustained spirit of revitalization re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. to America's inner-city communities. The three key programs, which serve as the foundation for delivering HOPE's financial literacy programs, are HOPE Coalition America, Banking on Our Future, and neighborhood HOPE Centers. To date, HOPE has created more than 800 new homeowners and 250 small business owners, more than $125 million in funded loans, and nearly $280 million in commitments for homeownership and small business loans from their 250 bank and corporate partners. Operation HOPE has helped thousands of Katrina victims with emergency financial counseling as well as helped thousands more through a partnership with former President Clinton and the Clinton Foundation to claim EITC benefits Katrina victims rightly deserve from the federal government. At the core of HOPE's mission to eradicate poverty and empower the wealthless is a movement to establish "silver rights" or the right to financial literacy, access to capital, and equality of opportunity for the underserved. HOPE and its programs can be found online at www.operationhope.org. |
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