Wells Fargo and Operation HOPE announced plans to introduce HOPE Inside centers in 20 markets that will serve as many as 150 Wells Fargo branches and their surrounding communities across the United States by the end of 2023.
The new HOPE Inside centers will 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, and Native American/Alaska Native households, which account for more than half of unbanked households in the United States. Financial coaches will help empower community members to achieve their financial goals through education workshops and free one-on-one coaching.
Starting in April, the first HOPE Inside centers will be launched in the Atlanta, Houston and Oakland markets. By the end of 2022, HOPE Inside centers will be expanded to Los Angeles, Minneapolis, New York, two locations in New Mexico and two locations in New Jersey – Newark and Camden.
“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 Darlene Goins, head of Wells Fargo’s Banking Inclusion Initiative. “Working with Operation HOPE is one important way that we can remove barriers to financial inclusion and help empower people with education, resources and tools to manage their money, improve their credit and achieve their financial goals.”
“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 can drive meaningful change and ultimately help address the deeply rooted barriers to financial empowerment in underserved communities.”