Announced during Financial Literacy Month, the innovative new program is made possible through a partnership between Santander Consumer, City Year and Operation HOPE
DALLAS, April 29, 2022 /PRNewswire/ — Santander Consumer USA Holdings Inc. (“Santander Consumer” and “SC”) today announced that it is working with its established community partners City Year and Operation HOPE to bring financial literacy training to City Year AmeriCorps members, starting in greater Dallas with the intention to expand the program to other cities over the next two years. City Year AmeriCorps members working in select Dallas schools have access to financial workshops and one-on-one personal coaching designed and administered by Operation HOPE, Inc., the nation's largest non-profit dedicated to financial empowerment, with award-winning financial wellness programs designed to educate and transform thinking when it comes to making decisions about money, building wealth and working toward financial independence.
Funded by a start-up grant to Operation HOPE from the Santander Consumer USA Inc. Foundation, the program launched in Dallas in November 2021 with 25 City Year AmeriCorps members. When participants of this first cohort complete their program in May 2022, they will have received six months of financial literacy and empowerment curriculum from Operation HOPE, personal financial coaching for budgeting, saving, improving credit scores, and establishing and managing credit, as well as a financial award from Santander Consumer.
City Year AmeriCorps members serve as student success coaches, helping students build on their strengths and cultivating social, emotional and academic skills that are important in school and life. Through their service in schools and communities, City Year AmeriCorps members not only make a difference in the lives of students they
serve, they do so while also acquiring valuable skills and experience that prepare them to lead and make meaningful contributions to where they live and work.
The program is the latest initiative in Santander Consumer's $50 million multi-year commitment to boost financial inclusion and grow digital equity in communities in the U.S. In January, SC announced a separate initiative to provide free high-speed Internet connectivity, computers, training and support to eligible low-income residents in select cities.
“Supporting equity and inclusion in our communities is a top focus for SC, not just during Financial Literacy Month in April, but every day,” said Mahesh Aditya, President and CEO of SC. “City Year AmeriCorps members provide important support to America's students and schools, and many of those corps members are just beginning to establish their personal finances. By working with Operation HOPE's coaches and financial empowerment curriculum, City Year AmeriCorps members can build healthy financial habits, which – in turn – helps to build generational wealth.”
“Financial wellness is a crucial part of success and wholeness,” said John Hope Bryant, Operation HOPE Founder, Chairman and CEO. “Santander Consumer is helping to instill financial confidence in City Year AmeriCorps members, many of whom are just beginning their professional careers. This is a unique program, and we applaud Santander Consumer and City Year for their ongoing commitment as we work together to uplift and enrich individuals and families with greater financial empowerment.”
“City Year AmeriCorps members commit a year or more of their lives toward supporting students' social emotional development,” said Chris Mann, City Year Senior Vice President of Development. “We are so grateful to Santander Consumer and Operation HOPE for providing this financial literacy training for our AmeriCorps members and supporting them as they complete their service and begin their life-long journeys as engaged citizens and leaders helping to address the serious challenges of systemic inequity and racial injustice in their communities.”
Santander Consumer USA Inc., headquartered in Dallas, Texas, is a full-service consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than 3 million customers across the full credit spectrum. SC, which began originating retail installment contracts in 1997, had an average managed asset portfolio of approximately $64 billion (for the fourth quarter ended December 31, 2021). The company is a wholly owned subsidiary of Santander Holdings USA, Inc., and is part of Madrid, Spain-based global banking leader Banco Santander. For more information about Santander Consumer USA, please visit www.santanderconsumerusa.com.
City Year helps students and schools succeed, while preparing the next generation of engaged leaders who can work across lines of difference. Diverse teams of City Year AmeriCorps members provide support to students, classrooms and the whole school. Schools that partner with City Year are up to two to three times more likely to improve in English and math assessments, and the more time students spend with AmeriCorps members, the most they improve on social, emotional and academic skills – skills that help students thrive in school and contribute to their community.
A proud member of the AmeriCorps national service network, City Year is supported by AmeriCorps, local school districts and private philanthropy. City Year partners with public schools in 29 communities across the U.S. and through international affiliates in the U.K. and South Africa. Learn more at cityyear.org or on Facebook, Twitter and LinkedIn.
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 everyone — disrupting poverty for millions of low- and moderate-income individuals and families across the nation. Through its community uplift model, HOPE Inside, which was recognized as “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 survivors.
# # #
SOURCE Santander Consumer USA Holdings Inc.