Operation HOPE, Inc., the nation’s largest non-profit dedicated to financial empowerment for underserved communities, joined Atlanta Mayor Andre Dickens to launch “Year of the Youth,” which included a highlight of the City’s pilot Child Savings Account (CSA) Initiative. In partnership with Citibank, the program was established in 2021 to provide savings accounts for qualifying kindergarteners enrolled in Title I Atlanta Public Schools. The kick-off event was hosted at the Atlanta City Hall Atrium and attended by a diverse group of youth partners, community stakeholders and business leaders.
To date, more than $264,000 of deposits have been made by Operation HOPE, with a total of 5,760 total new accounts established. The first two cohorts of young scholars account for more than 10% of all APS students.
More than $264,000 of deposits have been made by Operation HOPE, with a total of 5,760 total new accounts established.
“Through this groundbreaking partnership, we are providing financial wellness education and creating pathways to success that allow Atlanta’s youth to thrive,” said John Hope Bryant, Founder Chairman and CEO of Operation HOPE. “Together we will ensure that Atlanta’s children – many of whom are at the lowest income spectrum – have all of the resources necessary to achieve their full potential. Our investment is intentional and will undoubtedly create new opportunities that can change lives.”
During the event, Bryant also highlighted data from the HOPE Financial Wellness Index, which reveals the disparities of families living in low credit score neighborhoods. By cultivating financial education early, Operation HOPE seeks to improve the overall financial health of underserved neighborhoods and increase their ability to build generational wealth.
In addition to administering the child savings accounts, Operation HOPE has provided financial literacy education to parents and caregivers at no cost. This includes hands-on coaching and access to resources that help increase savings, lower debt, improve credit scores and establish a path to homeownership. Now in its second year, the CSA program will continue to support Atlanta’s “Year of the Youth” and provide financial literacy to more adolescents and families throughout 2023.