BusinessWire

Cross River Partners with Operation HOPE and the Community to Provide Virtual Financial Literacy Resources

Partnership will provide free, live online programming to deliver community support in response to COVID-19 pandemic

FORT LEE, N.J.--(BUSINESS WIRE)--Cross River Bank (“Cross River”), a leading innovator and provider of banking services for technology companies, today announced that it is collaborating with Operation HOPE to provide live, virtual financial literacy programming in response to the economic impact of the new coronavirus, COVID-19. HOPE Inside Disaster is one of the leading financial emergency preparedness and recovery services in the U.S. that is deployed in response to federally declared disasters to provide financial advocacy and support.

Now, more than ever, Cross River recognizes the importance of community service and providing financial resources to consumers in need, whether that be responsible access to credit, innovative financial solutions or financial literacy programming and support,” said Gilles Gade, Founder, President, and CEO of Cross River. “Early in 2019, we created the Cross River Financial Literacy Initiative to give families the tools they need to make the right financial decisions, and now, we are excited to partner with our friends at Operation HOPE on this new initiative to deliver community support during these pressing times.”

Beginning in April, Cross River and Operation Hope will work in tandem to provide virtual financial literacy resources for individuals and community partners. The programming will be free and aims to provide the community with the foundation they need to become more financially stable and independent as a result of the economic effects of the current COVID-19 pandemic.

We are pleased to partner with Cross River to provide critical virtual financial education and coaching services to help individuals and small businesses as they navigate the economic impacts of COVID-19,” said John Hope Bryant, Founder, Chairman, and Chief Executive Officer of Operation HOPE. “Over the past 19 years, HOPE Inside Disaster has supported more than 1.3 million disaster survivors, and we are committed to standing with Americans now during this crisis.”

April is National Financial Literacy month, and as a leading fintech bank, Cross River has been taking an innovative approach to financial literacy education by highlighting how technology has the potential to support greater financial inclusion. In 2019, Cross River held a series of community events for April Financial Literacy in conjunction with elected officials, organizations and schools. Last week, Cross River announced that it has been working with local leaders, nonprofits, municipalities, institutions and residents to assist with coronavirus-related relief measures.

For additional information or to partner with Cross River on this endeavor, please contact publicaffairs@crossriver.com.

About Cross River

Cross River Bank is a fast-growing financial services organization that merges the established expertise and traditional services of a bank with the forward-thinking offerings of a technology company. Cross River combines a comprehensive suite of products into a unique banking-as-a-platform solution, encompassing lending, payments and risk management. Cross River partners with leading marketplace lenders and technology companies enabling them to focus on their own growth without hindering innovation, while maintaining a strong focus on compliance. In December 2018, Cross River secured $100 million in a funding round led by KKR. This was on top of the $28 million VC funding round in 2016 from Battery Ventures, Andreessen Horowitz, and Ribbit Capital. Founded in 2008, Cross River is a New Jersey state-chartered FDIC insured bank. For more information, please visit Cross River’s website at www.crossriver.com or on Twitter @crossriverbank.

About Operation HOPE, Inc.

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 the underserved—disrupting poverty for millions of low and moderate-income youth and adults across the nation. Through our community uplift model, HOPE Inside, which received the 2016 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 disaster survivors. Project 5117 is our multi-year four-pronged approach to combating economic inequality that aims to improve financial literacy, increase business role models and business internships for youth in underserved communities, and stabilize the American dream by boosting FICO scores. Operation HOPE recently received its fourth consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability by the prestigious non-profit evaluator, Charity Navigator. For more information: www.OperationHOPE.org. Follow Operation HOPE on Twitter and Facebook @operationhope.


Contacts

Cross River
Eden Hoffman
Phone: 201-808-7000 x538
ehoffman@crossriver.com