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

Workshops on Budgeting, Foreclosure Prevention, Entrepreneurship

NEW YORK, Aug. 19, 2008 -- GMAC Financial Services has partnered with Operation HOPE and the Greater Harlem Chamber of Commerce to offer the seminar "Take Your Life Back and Get Out of Debt" on Aug. 23, during the final week of Harlem Month.

"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."