GMAC Financial Services and Operation HOPE Offer Financial Literacy Program in Harlem

"GMAC has placed a high priority on promoting the importance of financial literacy," said GMAC Chief Executive Officer Alvaro G. de Molina. "Our commitment is to increase public awareness and understanding of personal finance and to make strides in strengthening our communities."

GMAC is devoted to educating consumers through its SmartEdge program, which includes seminars, online efforts and community outreach. SmartEdge provides consumers with the tools and information they need to make educated financial decisions about credit, budgeting, vehicle and home financing, banking, and insurance. In 2007, SmartEdge took part in more than 2,300 events, reaching more than 1 million consumers.

The Aug. 23 seminar will take place at the Operation HOPE Banking Center Network, Harlem, 2511 Frederick Douglass Boulevard, from 11 a.m. to 3 p.m.

Steve Bartlett, president and chief executive officer of The Financial Services Roundtable, will speak at the event and GMAC representatives will be in attendance, as well. The Financial Services Roundtable is a trade association representing 100 of the largest integrated financial services companies. This seminar is one of GMAC's Community Service 2008 projects as part the group.

    Workshops include:
    -- Credit and money management - 11 a.m. to noon
    -- Homeownership - 11 a.m. to noon
    -- Foreclosure prevention - 1 to 2 p.m.
    -- Small business/entrepreneur - 1 to 2 p.m.
    -- Youth financial literacy - 2 to 3 p.m.

"This partnership with GMAC helps us provide residents in Harlem and the surrounding area with guidance on financial issues that are important to them," said Senior Vice President of HOPE Partners Stacy Sanchez. "Whether buying a home, planning a budget or starting a business, it's important for every member of the community to be knowledgeable about how to make the most of their finances."

About GMAC Financial Services

GMAC Financial Services is a global, diversified financial services company that offers automotive finance, real estate finance, insurance and commercial finance. GMAC was established in 1919 and employs approximately 26,000 people worldwide. For more information, go to www.gmacfs.com .

About Operation HOPE

Operation HOPE is America's leading nonprofit social investment banking and financial literacy empowerment organization. With more than 400 private sector partners, 1500 nonprofit organizations and schools, and 100 government partners in 30 major U.S. cities as well asSouth Africa, Operation Hope has raised more than $400 million in its pursuit of educating, assisting and inspiring the next generation of global stakeholders. Through international initiatives and its three principal programs: Banking on Our Future (teaching school children about money), HOPE Coalition America (Mortgage HOPE Crisis Hotline, 877-577-HOPE, financial emergency preparedness and disaster relief), and Walk-In HOPE Centers (loans, bill pay, computer literacy, understanding banking principles) Operation HOPE has assumed the responsibility of piloting the Silver Rights Movement towards making free enterprise and capitalism relevant to all underserved communities.

SOURCE GMAC Financial Services

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