DRA announces $500,000 partnership with Operation HOPE, plans financial literacy training in the Delta
by January 6, 2017 3:43 pm 206 views
The Delta Regional Authority on Friday (Jan. 6) announced a partnership with Atlanta-based Operation HOPE to provide low-income families and small business owners with access to financial literacy education and entrepreneurial training programs.
Under the arrangement, DRA will invest $250,000 with a $250,000 match from the strategic financial partners of Operation HOPE to offer banking, credit reporting and other financial services in six rural communities in Louisiana, Mississippi, and Tennessee.
The goal of the so-called “Delta Region Uplift” initiative is to serve more than 3,000 individuals and businesses in 2017, DRA and Operation HOPE officials said.
“Operation HOPE has a well-established record of providing financial empowerment to more than 2.5 million individuals and creating $2 billion in economic activity in low-wealth communities,” said DRA Chairman Chris Masingill. “We are partnering with this outstanding organization to extend DRA’s mission of building communities, increasing economic opportunities, and bolstering entrepreneurial activity. Operation HOPE delivers a proven model to help advance the productivity of Delta communities and boost the overall economic competitiveness of our region.”
The new program will initially be located in DeSoto and Natchitoches parishes in Louisiana; Tate and Tunica counties in Mississippi; and Fayette and Haywood counties in Tennessee. Operation HOPE will install certified financial wellbeing coaches in the specified communities who will provide one-on-one counseling and mentoring to help individuals manage money and credit and raise credit scores, as well as provide resources on small business startup and development.
There are 50 existing HOPE Inside locations in the U.S., and commitments for more than 250 new offices within the next 18 months.
The program includes community outreach, education and workshops, and networking and entrepreneurial training. DRA officials said the program will complements the authority’s Delta Entrepreneurship Network and the Delta I-Fund, programs that create new jobs and expanded income opportunities through entrepreneurial efforts across the eight-state DRA region.