SunTrust Banks has provided a $1 million grant to the nonprofit group Operation Hope to expand financial counseling services for low-income consumers at banks across the country.
The grant will be used to fund the HOPE Inside program, which offers financial counseling within bank branches. The counseling sessions are offered by Operation Hope representatives, and cover topics such as cash management, homeownership and the earned income tax credit.
A portion of the grant will also be used to train bank employees on how to provide financial education to underbanked communities.
"An important way that SunTrust fulfills its purpose is by ensuring that all consumers have access to the education they need to make critical financial decisions," William Rogers, the chief executive at Atlanta-based SunTrust, said in a press release Wednesday.
The grant expands the SunTrust's partnership with Operation Hope. Since 2013, the group has offered financial literacy services within SunTrust branches to 2,000 clients in Atlanta, Memphis and Washington.
SunTrust Banks has assets of $186 billion and operates in 11 Southeastern and mid-Atlantic states and the District of Columbia. Operation Hope is based in Los Angeles and also has key operations in Atlanta.