LOS ANGELES – August 14, 2014 – A total of 1268 commitments have been collected for Project 5117 – an initiative to empower underserved communities, Operation HOPE reported today. Through Project 5117, HOPE is targeting the financially ill-equipped aspirants – youth and adults – people of all ages, races, and places in America who have not been exposed to the inner workings of the American economy for lack of self-confidence, access, opportunity, and role models.
“Project 5117 provides a full range of tools, information, access, and personal guidance needed to succeed in the American economic system, and to speak the language of money with fluency, skill and personal motivation,” says Shannon Campbell Managing Director for HOPE Global Initiatives. “We are pleased that so many people recognize the need for financial literacy and have joined the effort, by making a commitment. There is a lot of work to be done, so we are still encouraging people to join the effort.”
HOPE is still seeking commitments to Project 5117 for:
· Volunteers. Be a Business Role Model and/or a Business in a Box Pitch Competition Judge to help young entrepreneurs bring business ideas to life
· Support. Help a local HOPE Business in a Box youth entrepreneur through Crowdfunding
· Teach. Be a volunteer for Banking On Our Future, or HOPE Business In A Box to a classroom of students in your city
· Subscribe. Or recruit for HOPE Business in a Box Academies
· Attend. A workshop or sponsor a HOPE Inside locations
· Partner. Join as a national partner of Project 5117
An numerical acronym for program goals, P5117 stands for 5 million youth empowered through financial literacy; 1 million of these empowered youth will have an opportunity to become future entrepreneurs and local job creators through HOPE Business In A Box Academies; open 1,000 HOPE Inside offices located in bank branches to raise the average credit score in a community to 700.
This national financial empowerment network includes thousands of banks, retailers, churches, and community centers where adult financial aspirants can go in and receive one-on-one, private, professional financial counseling on credit scores rehab, debt management, budgeting, mortgage restructuring and small business development – free of stigma, scrutiny and shame. It also includes thousands of schools where students can learn the basics of money and compete in fun business simulations where they actual learn to craft and create a business from scratch, from marketing, finance, product development and management. The program continues until 2020.
Operation HOPE is an international nonprofit organization dedicated to promoting financial literacy and dignity through various educational programs and initiatives. Since its founding in 1992, HOPE has served more than two million individuals and directed more than $1.5 billion in private capital to low-wealth communities. It maintains a growing army of 20,000 HOPE Corps volunteers, and currently serves more than 300 U.S. cities, as well as South Africa, Saudi Arabia, Morocco and the United Arab Emirates. At the core of HOPE’s mission to eradicate poverty and empower people through financial literacy is a “silver rights” movement to ensure that free enterprise and capitalism work for the underserved.