Several leading financial companies, including E*TRADE FINANCIAL Corp., JPMorgan Chase & Co. and Deutsche Bank AG are backing a new effort by the non-profit Operation HOPE Inc. to bring financial literacy to New Yorks poor.
The Los Angeles-based groups Harlem center, which opened Oct. 3, aims to empower New Yorks low-income communities, providing them with money management seminars, information on affordable housing, credit counseling and home-loan and small-business loan programs. One-on-one financial consultations, as well as résumé services, are available free of charge.
Operation HOPE also has teamed up with the New York City Department of Education to offer money management and savings education to area children through a program called Banking on Our Future.
E*TRADE has pledged to give $10 million over 10 years to Operation Hope; JPMorgan Chase has given $400,000 to the Harlem center.
Since it began operations in Harlem in May, Operation HOPE has helped more than 2,500 New Yorkers.
Were hoping to reach clients in all of the surrounding boroughs, said Theresa Kelly, administrator of the Harlem center.