Hopelink, HSBC – North America Announce Grant for Hopelink’s Adult Literacy Program

SEATTLE and PROSPECT HEIGHTS, Ill., May 23, 2005 – HSBC – North America announced today it has awarded a $90,000 grant to Redmond-based Hopelink to fund financial education workshops and financial planning counseling for 1,450 homeless and low-income individuals in the north and east King County area over the next year.

The grant will enable Hopelink to provide a series of six in-depth, free financial management classes offered to homeless and low-income families on a quarterly basis, as well as intensive one-on-one counseling sessions that help families create and manage a budget.  The financial management classes will be held at the Hopelink site at 14812 Main Street in Bellevue.  Child care is available.  Participants can register for classes by calling 425.943.7577.

Hopelink is a 501(c)3 nonprofit organization. HSBC – North America operates three HFC and Beneficial consumer lending branches in Seattle.

“For many of the families we serve at Hopelink, this financial planning and coaching will dramatically change how they think about money,” said Doreen Marchione, executive director of Hopelink.  “This provides them with the appropriate and necessary tools they need to effectively manage their money and create a financially healthy future.”

HSBC also today announced financial education grants totaling more than $1 million to 11 community organizations in Arizona, the District of Columbia, Ohio, South Carolina, Texas and Washington.  Individual grants range from $60,000 to $125,000.  Target groups include individuals in low-income areas and those in need of credit and homeownership counseling.

“The importance of financial education can not be overstated,” said Loretta Abrams, HSBC – North America’s vice president of community development and consumer advocacy.  “So much of our lives – from the interest we pay on our mortgages to our ability to get a job – depends on our understanding of personal finance and the way we manage our money. We applaud Hopelink for the great work they’re doing to help individuals and families throughout the area.”

Through its Financial Education Grant program, now in its fourth year, HSBC funds financial literacy initiatives provided by local organizations to meet the financial and credit education needs of their constituents.

The program is managed by the HSBC Center for Consumer Advocacy, which was established in 2003 to direct the company’s broad range of financial education and housing programs and community outreach initiatives. The center also funds grants to educational institutions and maintains the personal financial education Web site www.yourmoneycounts.com.

About HSBC – North America
HSBC - North America comprises all of HSBC's U.S. and Canadian businesses, including the former Household businesses.  The company’s businesses serve nearly 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets.  Financial products and services are offered under the HSBC, HFC and Beneficial brands.  For more information, visit: www.hsbcusa.com.

HSBC – North America Media Contact
Rahsaan Johnson, HSBC - North America
Phone: 847.564.7946
E-mail: rahsaan.a.johnson@us.hsbc.com

About Hopelink
Since 1971, Hopelink has served homeless and low-income families, children, seniors and people with disabilities in north and east King County by promoting self-sufficiency for all members of our community and helping people make lasting change. Hopelink assists people with meeting their needs for food, shelter, homelessness prevention, child development, family development and stabilization, transportation and adult literacy skills. For more information on Hopelink and its services, call 425.869.6000 or visit www.hope-link.org.

Media Contacts
Denise Stephens, Public Relations Specialist, office: 425.869.2440, denises@hope-link.org
Glen Miller, Communications Manager, office: 425.869.6025, cell: 206.790.5410, glenm@hope-link.org