CREDIT AND MONEY MANAGEMENT

Lack of financial literacy is a major cause of generational poverty. Poor credit, out of control debt, and other impacts of bad financial decisions and life events, can leave hardworking individuals struggling to move forward and make sense of it all.

HOPE’s Credit and Money Management Program, a core focus of HOPE Inside Adult Empowerment programming, is designed to transform disabling financial mindsets—teaching people the language of money, how to navigate credit, and make better decisions with the money they have. The Credit and Money Management Program is a part of HOPE’s 700 Credit Score Communities initiative to uplift communities via financial inclusion and assistance.

Through workshops and one-on-one counseling, our financial wellbeing coaches empower clients to take control of their finances, by creating a budget, reducing and paying off debt, and clearing errors from their credit reports. Seventy-two percent of clients see a FICO Score increase; 25 percent achieve an above-prime FICO Score of 660 or greater after 6 months of participation.

The focus of Operation HOPE’s Credit and Money Management Program is to raise client FICO scores to 700 and bring financial uplift to communities—working to rehabilitate the credit, financial, and overall wellbeing profile of the HOPE client, and the future bank borrower, and by extension, the community as a whole.

A community empowered with financial dignity asks better questions, demands better products and services, is more aspirational, and is better positioned. An empowered community is a community filled with economic opportunity.