Printer Friendly

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 -- 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 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, John Hope Bryant. "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 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 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, which recently successfully helped more than 4,300 Katrina victims recover over $6.6 million in EITC 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 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:CMA), a financial services 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

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 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
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Sep 27, 2006
Previous Article:SUPERVALU Announces New Advertising Partnership with Dailey & Associates.
Next Article:Looking Ahead: Achieving the Economic and Environmental Goals of AB 32.

Related Articles
An ounce of prevention: the American Cancer Society offers a free wellness program to businesses throughout Southeast Michigan.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters