Financial dignity leader, Operation HOPE (HOPE) today announced the details of a signed Collaborative Agreement with the Federal Deposit Insurance Corporation(FDIC) to empower adults and youth in basic money management skills, using the Money Smart curriculum. Through Project 5117 (https://www.operationhope.org/p5117) - HOPE's multi-year initiative mission to create upward mobility, the agreement outlines plans to provide training for instructors, program evaluation, and increase Money Smart delivery and distribution networks.
"Our continued partnership with the Federal Deposit Insurance Corporation is an important step towards moving underserved communities out of poverty and into the financial mainstream," said Operation HOPE division leads, Mary H. EhrsamPresident Global Youth Empowerment Group Chief Executive Officer, New York Market and Lance Triggs Chief Executive Officer Los Angeles and Division President of HOPE Financial Dignity Centers. "The value of financial education is priceless and together we can help provide the necessary training for people to achieve and sustain the American dream."
HOPE has been using the Money Smart curriculum to augment its toolbox of financial literacy tools since the FDIC created the program in 2001. Money Smart was designed to help low- and moderate-income individuals and others outside the normal economic channels to enhance their money management skills and develop positive relationships with financial institutions. It features a comprehensive guide for instructors (including scripts, overhead and interactive class exercises) and resource materials for students and adults. The curriculum is free and can be customized to meet audience needs.
Created by Congress in the early 20th century to maintain stability and promote public confidence in the nation's financial system, the FDIC insures deposits, examines and supervises financial institutions, and manages receiverships of insured financial institutions.
The mission of Project 5117 is to strengthen the economy by empowering youth and adults to take control of their financial future. It is a mission that is supported by a broad range of services, from youth financial capability education and HOPE Business In A Box entrepreneurship initiatives focused on increasing mentorship and curbing the high school drop out rate. It also includes homeownership counseling, credit card debt management, and a program that helps those with low credit scores raise their score to 700. It is the next chapter in HOPE's "silver rights" mission to make free enterprise and capitalism work for everyone.