HARLEM, N.Y. and ATLANTA, June 06, 2024 (GLOBE NEWSWIRE) -- Today, Esusu, an innovative financial technology company committed to renter financial health, announces a significant expansion of its platform through a partnership with Operation HOPE, the nation’s leading nonprofit in financial literacy and economic inclusion. This collaboration introduces personalized financial coaching to renters nationwide, enhancing Esusu's cutting-edge Renter Financial Health Platform. The platform already features rent reporting and credit building, access to rent relief, comprehensive financial resources and assistance, and a curated marketplace of quality financial products.
According to the National Foundation for Credit Counseling, financial knowledge in the U.S. is most often passed down from family members. This leaves those not born into wealthy families without easy access to valuable financial education. It is challenging to find high-quality, personalized financial coaching outside family advice or generic tools. This is important because people with financial literacy are less likely to struggle to make ends meet or lack emergency savings to cover unexpected expenses.
Through this partnership, Operation HOPE will provide Esusu renters with individualized coaching and group workshops tailored to individual needs. By working with a dedicated coach over several months, Esusu renters can learn proven techniques to reduce debt, increase savings, create budgets, review credit reports, and develop financial action plans.
“Esusu and Operation HOPE are breaking down barriers to critical financial educational resources that help renters work towards financial stability and build generational wealth,” stated Wemimo Abbey and Samir Goel, Co-Founders and Co-CEOs of Esusu. “This foundational partnership stems from our shared vision to bridge the racial wealth gap and enhances our commitment to catalyze economic growth within local communities nationwide.”
Surveys have shown that 77% of Americans feel anxious about their financial situation. Further, renters are seven times more likely than homeowners not to have a credit score, making it nearly impossible to get approved for a home mortgage, access first-time homeownership, or build wealth. Esusu’s Renter Financial Health Platform tackles these issues head on with its holistic approach featuring rent reporting and credit building, and now financial coaching focused on areas of debt management, savings, and more.
Operation HOPE clients who have received financial coaching have seen tangible results:
- Average credit score increase of 41 points
- Over $1.1K median increase in savings
- Over $1.8K median decrease in debt
- Over $1B in mortgage funding received
“Financial literacy is the civil rights issue of our time, and this partnership is a great equalizer,” said John Hope Bryant, Founder, Chairman, and CEO of Operation HOPE. “Together with Esusu, we are empowering renters with the knowledge and tools they need to take control of their financial futures and build generational wealth.”
This partnership marks a significant step forward in the mission to provide equitable financial opportunities and foster a more inclusive economy where everyone has the chance to thrive. By combining Esusu's innovative renter platform with Operation HOPE's expertise in financial literacy, this collaboration promises to empower renters across the nation.
About Esusu
Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 4 million rental units across all 50 states in the United States. Learn more at www.esusu.com and follow us on Instagram @myesusu and on Twitter @getesusu.
Media Contact:
Small Girls PR
esusu@smallgirlspr.com
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 its award-winning community uplift model, HOPE Inside, which received the Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $4 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. Operation HOPE recently received Fast Company’s World Changing Ideas Award for driving entrepreneurship as well as its tenth consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability from the prestigious non-profit evaluator, Charity Navigator. Operation HOPE also recently launched The 1865 Project, an initiative designed to help level the economic playing field for underserved Americans. For more information: OperationHOPE.org. Join the HOPE conversation on Twitter, Facebook, Instagram and LinkedIn.
