Truist expands Operation HOPE financial coaching to 600 branches
Truist Financial Corporation (NYSE: TFC) has expanded its partnership with Operation HOPE, making financial wellness coaches available in 600 branches. This initiative follows a $20 million investment aimed at supporting the creation of one million Black-owned businesses by 2030. Since 2013, nearly 175,000 financial empowerment services have been offered, with many clients reporting improvements in credit scores and savings. Truist plans to further expand this program, aiming for 1,000 branches by 2024, enhancing access to financial coaching for underserved communities.
- Expansion of financial wellness coaches to 600 Truist branches enhances community support.
- Significant investment of $20 million in Operation HOPE to promote financial education.
- Nearly 8,000 clients supported by coaches in 2021, demonstrating strong community engagement.
- Positive impacts on clients' credit scores and savings noted.
- None.
CHARLOTTE, N.C., Dec. 22, 2021 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that HOPE Inside financial wellness coaches are now available for 600 Truist branches, a significant milestone in the company's partnership with Operation HOPE.
In April 2021, Truist announced an investment in Operation HOPE of
The Operation HOPE Inside coaches offer financial expertise to help solve everyday financial challenges. Coaches offer one-on-one sessions and group workshops with clients on a variety of important topics, including access to mainstream credit, behaviors that accelerate savings, debt reduction, entrepreneurship, and homeownership.
"Truist is committed to supporting our clients' financial journeys, and Operation HOPE's mission aligns with our aim to help all who want to improve their financial health," said Chief Retail Community Banking Officer Brant Standridge. "This is another step to reaching more people with financial coaching that will help them build stronger financial futures and better lives, especially for those who have not always looked to banks for care and support."
As part of the HOPE Inside coaching model, clients can access and work with coaches in-person and virtually. Aligning coaches with clients virtually has enabled Truist and Operation HOPE to further expand and scale their impact across Truist markets, allowing additional access and flexibility for our clients and communities.
Reaching this milestone and drawing closer to the partnership goal reflects Truist's purpose to inspire and build better lives and communities. Accomplishments include:
- Expanding to 30 coaches who serve communities through 600 Truist branches.
- Nearly 8,000 Truist clients and community members supported by an Operation HOPE Inside coach in 2021.
- Nearly 175,000 financial empowerment services, including group education and disaster relief services, offered through the partnership since 2013.
- Majority of clients working with Operation HOPE coaches in 2021 saw a positive impact to their credit score, increased their savings, or reduced debt.¹
"I am proud of the impactful work we've accomplished through our partnership with Truist," said Operation HOPE Founder, CEO and Chairman John Hope Bryant. "I believe we are sitting in a moment in history, and organizations like Truist are meeting the moment in a substantive way. Since we announced this partnership in the spring, we've been able to expand and provide financial literacy to more communities, more families and more individuals — financial well-being at scale. We're excited to continue the momentum in 2022 and beyond."
Coaches are available across a broad portion of the Truist footprint, including the recent expansion markets of Charlotte, N.C.; Jacksonville, Fla.; Philadelphia, Pa.; Virginia Beach, Va.; and Nashville, Tenn. Truist aims to have coaches available in additional markets as part of the continued expansion to serve 1,000 branches by 2024. To find coach locations, click here.
About Truist
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 a top 10 U.S. commercial bank with total assets of
About Operation HOPE
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 everyone — disrupting poverty for millions of low- and moderate-income individuals and families across the nation. Through its community uplift model, HOPE Inside, which was recognized as "Innovator of the Year" recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than
For more information: www.OperationHOPE.org. Follow the HOPE conversation on Twitter, Facebook and Instagram.
¹ 2021 HOPE Inside Partner Reports
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SOURCE Truist Financial Corporation
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