Truist’s $20 million Operation Hope investment expands financial inclusion to more communities
Partnership transforms access to financial resources, creating better lives and communities.
ATLANTA, April 29, 2021 – Truist Financial Corporation (NYSE: TFC) and Operation HOPE today announced an expanded, multiyear transformational partnership, including a series of collaborative programs such as HOPE Inside coaching, digital access that connects to education and Truist solutions, and HOPE’s 1 Million Black Business Initiative (IMBB), as part of the bank’s commitment to bring access and solutions to build better lives and communities.
Truist and Operation HOPE will expand their community-based approach to financial wellness to provide more people with the education, insights and tools that will empower and build better lives. To achieve this goal, Truist and Operation HOPE have entered into a four-year partnership that will expand and transform HOPE Inside coaching, bringing in-person and virtual financial coaching, educational content and solutions to 1,000 Truist branches. Additionally, Truist and Operation HOPE will further expand digital and mobile access to financial coaches and a host of financial education resources to solve everyday financial challenges.
The expanded partnership also supports Operation HOPE’s work toward launching 1 million Black-owned businesses by 2030. Truist is accelerating the program by offering small business solutions, along with in-kind support and a capacity-building investment.
“I am honored by Truist’s commitment and support of Operation HOPE’s mission to bring financial literacy to all and help aspiring Black entrepreneurs launch the businesses of their dreams,” said Operation HOPE Founder, CEO and Chairman John Hope Bryant. “The leading voices behind SunTrust and BB&T believed in our mission before their historic merger, and we’re thrilled by their continued support via Truist as we work together over the next four years to build and strengthen communities through financial literacy and empowerment.”
SunTrust and BB&T were long-standing partners of Operation HOPE before completing a merger of equals in 2019. In 2013, SunTrust became Operation Hope’s first financial partner, amplifying the organization’s efforts of making financial literacy and equity programs available to all. Now the sixth largest U.S. commercial bank, Truist serves approximately 15 million clients.
“Truist’s purpose, to inspire and build better lives and communities, is rooted in the firm belief of providing equal opportunities that allow all to thrive,” said Head of Retail Community Bank Brant Standridge. “We’re committed to and invested in our clients’ financial journeys, no matter where they start or where they are now. This new chapter with Operation HOPE is an exciting one. It means we will be able to reach more people with HOPE Inside coaching and give them the support they need to build stronger financial futures. It means helping more Black entrepreneurs succeed. But most of all, it means giving hope, through financial empowerment, to thousands of individuals, their families and their communities.”
Truist and Operation HOPE’s expanded partnership includes:
- Transforming and expanding the HOPE Inside coaching program to be community-based and impact-focused, encompassing 50 hub locations serving 1,000 branches in communities across the Truist market.
- Investing in and accelerating 1MBB with a capacity-building grant and a commitment of 1,000 hours of volunteer time.
- Collaborating to build a digital platform that will provide HOPE Inside education alongside access to Truist solutions and services, bringing touch and technology to support those underserved by financial services.
- Collaborating to further the employee wellness platform with HOPE coaching and Truist Momentum programming.
- Becoming a 2021 Member of HOPE to build capacity and sustainability as the partnership blooms over the next four years.
- Serving as the lead sponsor for the HOPE Global Forums, a community designed to galvanize thought and action around building an economy that works for everyone.
To learn more, go to Truist.com/RiseTogether.
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $518 billion as of March 31, 2021. Truist Bank, Member FDIC. Learn more at Truist.com.
About Operation HOPE, Inc.
Since 1992, Operation HOPE has been moving America from civil rights to “silver rights” with the mission of making free enterprise and capitalism work for the underserved—disrupting poverty for millions of low and moderate-income youth and adults across the nation. Through our community uplift model, HOPE Inside, which received the 2016 Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $3.2 billion in economic activity into disenfranchised communities. Operation HOPE recently received its seventh consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability by the prestigious non-profit evaluator, Charity Navigator. For more information: www.OperationHOPE.org. Follow Operation HOPE on Twitter and Facebook @operationhope
SOURCE Truist Financial Corporation