Wells Fargo News Release / February 7, 2024
Operation HOPE and Wells Fargo Expand Free Financial Coaching to Bayview Hunters Point
New HOPE Inside centers in local Wells Fargo branches increase access to financial education and guidance in diverse communities
San Francisco, CA – February 7, 2024 – Wells Fargo and Operation HOPE, Inc., a national non-profit dedicated to financial empowerment for underserved communities, today announced the opening of their HOPE Inside center in San Francisco.
The HOPE Inside centers are located inside a Wells Fargo branch in each market, and feature Operation HOPE financial coaches who help empower community members to achieve their financial goals through free financial education workshops and one-on-one coaching. In San Francisco, the HOPE Inside coach is located in the Bayview Hunters Point branch (3801 3rd Street, Suite 116) at the Bayview Plaza Shopping Center.
Amparo Gonzalez, Operation HOPE financial coach, José Cisneros, San Francisco Treasurer, Mary Ersham, President of Operation HOPE Partnerships, Michael Martino, Head of Consumer, Small and Business Banking Diverse Customer Segments, Wells Fargo, Rodney Fong, San Francisco Chamber of Commerce President & CEO and Saul Van Beurden, CEO of Consumer, Small and Business Banking, Wells Fargo.
“We know from our outreach and work with national and community stakeholders that financial education and guidance, and an individual’s sense of inclusion and trust, are all important factors in bringing more people who are unbanked into the formal banking system,” said Michael Martino, Head of Consumer, Small and Business Banking Diverse Customer Segments. “Working with Operation HOPE is one important way that we can help remove barriers to financial inclusion and empower people with education, resources and tools to manage their money, improve their credit and achieve their financial goals. With the addition of HOPE Inside, we’re further strengthening our support for the Bayview Hunters Point community and taking care of the community’s financial needs. It’s exciting to see this collaboration grow and make a great impact in even more communities.”
Amparo Gonzalez, Operation HOPE financial coach at Wells Fargo Bayview branch
HOPE Inside centers are located within low-to-moderate income (LMI) neighborhood branches that are specially designed around the needs of diverse communities. The branches feature redesigned spaces created to deliver one-on-one consultations, improve digital access, and offer financial health seminars.
“I’m excited to join Wells Fargo as they launch HOPE Inside in the Bayview,” said José Cisneros, San Francisco Treasurer. “I launched Bank On San Francisco more than 15 years ago, after realizing that many residents of San Francisco relied on costly fringe financial products such as payday lenders and check cashers. Bank On San Francisco spurred a national movement working to improve access to safe and affordable bank accounts for all who desire and need one. Along with their participation in Bank On, the launch of HOPE Inside at Wells Fargo’s branch in the Bayview is a strong signal of their meaningful commitment to our community’s financial security and success.”
The new Bayview HOPE Inside location continues Wells Fargo’s commitment to make financial education and guidance more accessible to those most in need by opening HOPE Inside centers in 50 low- to moderate income (LMI) communities by the end of 2026.
“The Wells Fargo HOPE Inside centers mark a significant step forward in addressing barriers to financial wealth in diverse communities by offering a welcoming space, access to financial coaches, and expanded resources that support the financial goals of individuals with the greatest needs,” said John Hope Bryant, Chairman and CEO, Operation HOPE, Inc. “This collaborative effort drives meaningful change and ultimately helps address the deeply rooted barriers to financial empowerment in underserved communities.”
Financial literacy allow individuals to plan and take care of their future, so they are in a stronger place to take care of themselves and their families,” said Mayor London Breed. “By bringing resources and training to where communities need them the most, we are developing solutions to address wealth disparities in marginalized communities and build a stronger, more resilient San Francisco that supports all of our communities.”
HOPE Inside is part of Wells Fargo’s Banking Inclusion Initiative to help more people who are unbanked gain access to affordable, mainstream banking products, and help remove barriers to financial inclusion for Black and African American, Hispanic/Latino, and Native American/Alaska Native households, which account for more than half of unbanked households in the United States.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
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