suedunnell wrote: Hi Again - I should add my name to comment #1 above and ask that if anyone has questions, they can either post them here or ask me directly:
Sue Dunnell
PowerBuilder Product Manager
978 287 1752
sue.dunnell@sybase.com
LOS ANGELES, CA -- (MARKET WIRE) -- 06/04/07 -- Operation HOPE (HOPE) announced today that
Union Bank of California reaffirmed its commitment to support HOPE's Silver
Rights Movement to eradicate poverty as we know it and empower underserved
communities throughout California. A $150,000 grant from the Union Bank of
California Foundation will be used to offer free credit counseling and
financial education programs through HOPE's Banking on Our Future Program
that has already educated over 225,000 youth nationwide on financial
literacy. The bank was also a sponsor of HOPE's 15th Anniversary
Celebration and the biggest Bankers Bus Tour in the organization's history.
"We commend the Union Bank Foundation for its commitment to empowering
people with the knowledge to make the right decisions about their finances.
The support of institutions like Union Bank help Operation HOPE continue to
deliver 'silver rights' to underserved communities," said John Hope Bryant,
Operation HOPE Founder, Chairman and CEO. "Proof positive that you can do
well by doing good."
"Union Bank's commitment to the not-for-profit community extends beyond
offering comprehensive financial solutions to individuals and businesses.
We support projects like Banking on Our Future because they are vitally
important to the economic health and viability of the communities we
serve," said Union Bank of California Foundation President, Carl Ballton.
In 1993 when Union Bank decided to expand services to low income
communities, it soon found that while their branches provided a valuable
service to the unbanked, a vehicle to transition the unbanked to
traditional banking relationships was missing. This opened the door to a
new kind of relationship and Operation HOPE's first partnership with the
bank. The alliance, formed in 2000, included Union Bank, Nix Check
Cashing, and Operation HOPE, was forged to provide financial literacy,
credit counseling and an array of banking products and services to serve
the underserved.
In addition to financial support, Union Bank supports local communities by
donating hundreds of hours to community reinvestment projects. Operation
HOPE's volunteer arm, HOPE Corps, works with Union Bank employees who
volunteer to teach Banking on our Future financial education classes. They
also sign up as HOPE Coalition Volunteers and stand-by to assist in the
event of a disaster.
Since 1992, HOPE has worked to bring self-sufficiency and a sustained
spirit of revitalization to inner-city communities through ongoing
collaborations and long-term partnerships with leading government, private
sector, and community interests. At the core of HOPE's mission to eradicate
poverty and empower the wealthless is a movement to establish "Silver
Rights" or the right to financial literacy, access to capital, and equality
of opportunity for the underserved.
In California alone, the award-winning Banking on Our Future program has
educated over 110,000 youth in financial literacy. Through HOPE Centers
Operation HOPE has created more than 800 new home and small business
owners. Combined efforts for the organization have generated more than $400
million in loan commitments from some 400 bank and affiliate partners. Most
recently, HOPE succeeded in encouraging President Bush to become the first
U.S. President to take action on financial literacy as "a new priority in
American life."
About Union Bank of California Foundation
Established in 1953, the Union Bank of California Foundation serves as an
agent for charitable contributions made by Union Bank of California, N.A.,
a wholly owned subsidiary of UnionBanCal Corporation, a publicly traded San
Francisco-based bank holding company. The foundation contributes financial
assistance to nonprofit institutions and organizations that enhance the
quality of life and help meet the needs of the communities it serves.
About Union Bank of California
Based in San Francisco, UnionBanCal Corporation (NYSE: UB) is a bank
holding company with assets of $54.6 billion at March 31, 2007. Its
primary subsidiary, Union Bank of California, N.A., had 321 banking offices
in California, Oregon and Washington, and 2 international offices at March
31, 2007. The company's Web site is located at www.unionbank.com.
About Operation HOPE, Inc.
Operation HOPE, Inc. (HOPE) is America's first nonprofit social investment
bank and an international provider of financial literacy and economic
empowerment programs, founded as a result of the 1992 Los Angeles civil
unrest to empower minorities in underserved communities. HOPE and its
programs can be found online at www.operationhope.org.