Expanding Financial Empowerment Across America
Operation HOPE, a national nonprofit focused on economic empowerment for low-to-moderate income families, commemorated the 159th anniversary of Freedman’s Bank by unveiling new HOPE Inside locations in Sacramento, Kansas City, Tampa, and Minneapolis. This expansion adds to nearly 300 existing offices and extends the organization’s reach, providing vital no-cost financial coaching to help individuals enhance their economic wellbeing. These new centers continue the legacy of fostering financial literacy and inclusion, key tenets inspired by the Freedman’s Bank established by Abraham Lincoln in 1865.
Honoring History and Building Futures
The Freedman’s Bank, initiated under the Freedman’s Bureau Act to educate formerly enslaved individuals about financial independence, once operated 37 branches across 17 states. In a historic move in 2016, prompted by Operation HOPE’s CEO John Hope Bryant, the U.S. Treasury Secretary renamed the Treasury Annex Building to The Freedman’s Bank Building, marking the original location of the bank. This act underscored a continuous effort to fulfill the bank’s mission of expanding economic opportunities for all Americans, particularly those underserved by traditional financial systems.
Operation HOPE’s Impact and Vision for Financial Inclusion
Under the guiding principle of converting civil rights to “silver rights,” Operation HOPE has significantly impacted financial literacy and empowerment. In 2023 alone, HOPE Inside locations grew by 19%, financial coaching services were provided to over 56,000 clients, and significant improvements were noted in clients’ credit scores and savings. Furthermore, through strategic partnerships and initiatives like the 1 Million Black Businesses project, Operation HOPE has catalyzed substantial economic growth and opportunity for minority entrepreneurs, demonstrating the profound role of financial education in fostering a resilient and inclusive economy.