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Press Release
Household Contributes $225,000 in Grants To Atlanta-Area Organizations That Promote Financial Literacy
Prospect Heights, IL - April 19, 2002 - Household International (NYSE:HI), the 124-year-old consumer lender, announced today the first recipients of its financial education grant. As part of a $3 million, multi-year campaign to promote financial literacy, Household has dedicated a total of $225,000 in grants to four Atlanta organizations that advocate for financial literacy and fair housing: the Atlanta Center for Homeownership, National Coalition of 100 Black Women, Sullivan Center and United Way of Metropolitan Atlanta.
Household established the grant program to help ensure consumers have access to the resources they need to make knowledgeable financial decisions. This year, additional grant money has also been dedicated to grassroots organizations in Los Angeles and Chicago. After the initial rollout in these three cities, Household will evaluate expanding the program to other cities.
"Household's grant program builds on our long-term commitment to empower working Americans with the information and tools they need to protect and enhance their financial well-being," said William F. Aldinger, chairman and chief executive officer of Household. "We are pleased to support these community groups who share that very same commitment."
Each organization will leverage the Household grant money to expand its current program offerings:
- The Atlanta Center for Home Ownership will apply the grant to a new "Family Financial Fitness Program," a two-year initiative designed to teach Atlanta families the fundamentals of financial literacy.
- National Coalition of 100 Black Women will use Household's grant to underwrite the organization's teen mentoring program, establishing financial education as an on-going component of the project.
- Sullivan Center will use the grant fund for its Financial Planning Education Program that helps thousands of families and individuals learn the basics of budgeting and money management - key tools to becoming economically stable and independent.
- United Way of Metropolitan Atlanta, in collaboration with The Latin American Association, Consumer Credit Counseling Services of Greater Atlanta, Cobb Housing, Inc., and Gwinnett Housing Resource Partnership, will use Household's grant to expand its IDA homeownership program to increase the number of Latino homeowners in targeted communities.
In addition to the grant program, Household regularly works with other organizations that promote financial literacy. Household has partnered with the National Community Reinvestment Coalition, the Congressional Black Caucus Foundation and the Jump$tart Coalition to help provide financial education to consumers.
Household also equips customers and other borrowers to effectively manage their finances through a variety of free tools and resources, including a web site, www.yourcreditcounts.com, and a series of financial management booklets both of which include tips and strategies for managing savings, spending and credit. (The booklets are available in all HFC and Beneficial branches and online: www.household.com/corp/himm_money_management.jsp.)
About Household
Household's businesses are leading providers of consumer loan, credit card, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household's largest business, founded in 1878, operates under the two oldest and most widely recognized names in consumer finance- HFC and Beneficial. Household is also one of the nation's largest issuers of private-label and general-purpose credit cards, including The GM Card® and the AFL-CIO's Union Plus® card. For more information, visit the company's Web site at http://www.household.com.
About The Atlanta Center for Homeownership
The Atlanta Center for Homeownership is a 501(c)(3) nonprofit housing counseling and homebuyer education agency that provides pre-purchase counseling, post-purchase workshops, loan pre-qualification, and credit counseling services throughout metropolitan Atlanta. The Center provides access to special lending programs, down payment assistance resources and special home sales. Since its inception in 1997, the Center has provided services to more than 14,000 families, which has resulted in $80 million in home sales.
Contact: Cecilia Rutledge, Director, 404-588-3700
About National Coalition of 100 Black Women
The National Coalition of 100 Black Women provides services and programs to African American women, teens and elderly family members who live in under-served communities of Atlanta.
Nationally, founded in 1981, The National Coalition of 100 Black Women is an advocacy organization that seeks to empower African American women through programs that meet their diverse needs. The organization helps create effective networks among African-American female leaders; establishes links between NCBW and corporate and political leaders; makes African-American women a visible force in the socioeconomic and political arena; exposes youth, through role modeling and mentoring, to new career opportunities; develops and positions leadership talent within the community of African-American women; and recognizes and promotes the historic and current achievements of African-American women.
Contact: Gwen Robinson, Public Relations Chairperson, 404-344-1230
About The Sullivan Center
Founded in 1986, the mission of The Sullivan Center, Inc., is to provide help to families and individuals in crisis. In addition to providing direct financial aid, the Center empowers people to help themselves through financial planning/nutritional classes and employment counseling. In 2000, the Center assisted more than 2,500 families with issues ranging from helping with utility bills to offering clothing and food to providing educational and employment help.
Contact: Marie Sullivan, Executive Director, 404-753-0531
About United Way of Metropolitan Atlanta
United Way of Metropolitan Atlanta brings together people, organizations and businesses to address the issues that matter most throughout our community. Today, United Way invest in innovative strategies to make our region stronger and safer - from helping kids start school ready to learn, helping working families buy their first homes and making sure basic human needs are met. For more information about United Way in our 12-county region, visit: unitedwayatlanta.org
Contact: Teri Smith, Director of Public Relations, 404-572-7222
Household Contact:
Megan Hayden, Manager - Corporate Communications, 847-291-2101
