Operation Hope Announces 1st Quarter Impact, Adding to Impressive 2022 Totals

April 28, 2023 at 08:00 AM EDT

Assisted in Securing $26M in Mortgages to Low- and- Moderate Income Homebuyers through Partnership with Fulton Bank, Total Topping $1B

More Than 88,000 Black Businesses Supported in Q1 through Partnership with Shopify

$26M in Small Business Loans Facilitated for Black Business Owners

Operation HOPE, a national nonprofit dedicated to helping low-and moderate-income Americans thrive in an ever-changing economy, announced its top-line first quarter 2023 results. Celebrating its 31^st year during Financial Literacy Month, Operation HOPE continues to provide significant financial outcomes for its clients, expand its national footprint and grow its portfolio of top-tier partner organizations.

Operation HOPE uses its HOPE Inside locations to deliver no-charge financial coaching to individuals in the community or at work. Key Q1 results include:

HOPE opened new offices in 19 cities, bringing its nationwide total to 230 offices that serve over 900 locations.
Delivered 76,497 financial coaching services to more than 19,400 individual clients – all at no charge to the client.
63% of HOPE clients increased their credit score.
HOPE clients generated an average increase of 42 points to their credit score, with 20% of clients increasing their scores between 51-99 points.
HOPE clients increased family savings by an average of $1,100, with 70% of clients achieving an increase in their savings.
HOPE clients reduced median debt by $1,944, with 42% of all clients achieving some debt reduction.
Secured $26,070,000 in funded mortgages for low- and moderate-income homebuyers through its partnership with Fulton Bank, pushing the total of mortgages funded since 2017 to more than $1 billion.
Secured $26,230,275 in small business loans for Black-owned businesses enrolled in the One Million Black Business (1MBB) program.
Enrolled and engaged 88,644 new Black-owned businesses through 1MBB, increasing the total number of businesses served to 257,731 since its October 2020 launch.
Percentage of unbanked and underbanked clients was reduced from 23.1% to 15.4% during Q1 2023.

For more information on the impact of Operation HOPE, please visit OperationHOPE.org.

About Operation HOPE, Inc.

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 the underserved—disrupting poverty for millions of low and moderate-income youth and adults across the nation. Through its community uplift model, HOPE Inside, which received the 2016 Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $3.2 billion in economic activity into disenfranchised communities—turning check-cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners, minimum wage workers into living wage consumers, and uncertain disaster victims into financially empowered disaster survivors. For more information: OperationHOPE.org. Follow the HOPE conversation on Twitter.