First Tennessee Bank will contribute $1 million to expand its financial literacy efforts through a partnership with global financial dignity and economic empowerment nonprofit, Operation HOPE, Inc. The $1 million investment in Operation HOPE’s new HOPE Fund will support creation of the First Tennessee Financial Education & Empowerment Program, which will offer free financial education to youth, adults, and small businesses.
The curriculum will be facilitated by First Tennessee’s employee volunteers, strategic nonprofit alliance partners, and counselors at First Tennessee HOPE Inside offices.
First Tennessee will open a total of 15 HOPE Inside offices, including several offices specific to small business counseling.
To date, First Tennessee has opened five HOPE Inside offices – in branches in Memphis, Nashville and Knoxville – and will open three more by the end of the year, including the first HOPE Inside location in Chattanooga. The seven other HOPE Inside offices will open in First Tennessee branches in 2017.
“First Tennessee is committed to providing financial literacy education, tools and support to help our customers and communities reach their financial goals,“ said Bryan Jordan, chairman, president and CEO of First Tennessee's parent company, First Horizon National Corporation. “We are committed to making our communities stronger, because we know that when our communities succeed, First Tennessee can succeed.”
Since 2014, HOPE Inside offices at First Tennessee have provided credit counseling to more than 2,400 participants through the 700 Credit Score Communities Program, which provides education on budgeting, debt management and building wealth.
“Operation HOPE is pleased to be part of the expansion of First Tennessee’s efforts to impact and uplift underserved communities throughout the state,” said John Hope Bryant, founder, chairman and CEO of Operation HOPE. “This investment in the HOPE Fund will allow Operation HOPE to extend its programming reach—teaching people the language of money, transforming financial mindsets, and empowering people with the tools they need to develop plans to move their lives forward by raising their credit scores, starting and growing businesses, or simply making better financial decisions.”