Commitment to Action

Financial Literacy Franchise Development

Commitment by

The First American Corporation

In 2006, First American Corporation committed to build an international franchise model for financial literacy training and banking centers developed by Operation HOPE, a US-based non-profit with programs aimed at enhancing the ability of the poor to become financially secure. As the United States' largest supplier of financial, business data and information, First American Corporation aims to leverage its alternative credit scoring products to entice and facilitate lending by financial institutions to individuals without traditional credit histories. In addition, First American will provide funding, in-kind contributions, and licensed data/technology of up to $1 million to develop the franchise-type, financial literacy model. Like other Hope Centers, once the program is successfully functioning for a period of two years, it will be sold to local or national financial institutions and converted into banking branches.
In 2008, First American Corporation partnered with Banco Amigo in Mexico to pilot this commitment; however, the program has been placed on hold due to the global banking crisis. Implementation will be reconsidered by the partners when the economic outlook is more positive.

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Overview
Summary

Commitment

Financial Literacy Franchise Development

Launched

2006

Est. Duration

2 years

Estimated Total Value

$1,000,000

Region

Latin America & Caribbean

Countries

MEXICO

Commitment by

The First American Corporation

Partner(s) of the Commitment Maker(s)

Operation Hope, Inc., John H. Bryant