Press Releases
November 18th, 2021
PITTSBURGH, November 18, 2021 — The Heinz Family Foundation today named fair workplace policy advocates Dina Bakst, J.D., and Sherry Leiwant, J.D., co-founders of A Better Balance, and William (Bill) Bynum, founder and CEO of HOPE, a Jackson, Mississippi-based community development financial organization, recipients of the prestigious 26th Heinz Awards for the Economy.
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October 21st, 2021
“We applaud the actions taken by the NCUA Board of Directors to empower credit unions to fully participate in the Emergency Capital Investment Program. By allowing low-income credit unions to accept 30-year ECIP funding, more than six million additional homeowners, entrepreneurs and individuals will be able to access the financial resources needed to climb the economic ladder and build intergenerational wealth. This decision is particularly significant for minority credit unions that have historically lacked the capital needed to grow – despite playing a vital role in the economy by filling financial service gaps for people of color, the nation’s emerging majority. We look forward to continued work with the NCUA to ensure these resources reach the people and places that need them most.”
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October 4th, 2021
On October 1, 2021 the African American Credit Union Coalition, the National Association of Latino Credit Unions and Professionals and Hope Credit Union sent a letter urging the National Credit Union Administration to address the harmful effects of a recent rule that limits the participation of credit unions in pandemic response for communities of color.
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September 8th, 2021
Seasoned Professional Expands HOPE’s Community & Economic Development Efforts BIRMINGHAM, AL — Today, Hope Enterprise Corporation / Hope Credit Union (HOPE) announced Brandon Pettagrue has joined the organization as Senior Vice President of Community and Economic Development (CED) for the state of Alabama. Based in Birmingham, Mr. Pettagrue brings nearly two decades of American and international banking expertise to the organization, where he will oversee the sourcing, structuring and completion of complex and high impact projects. In that capacity, he will leverage a variety of strategies, including the New Markets Tax Credit program, Opportunity Zones and federal grants to increase healthy food and community facility access.
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September 8th, 2021
Hope Policy Institute Report Details How New Markets Tax Credits Generates Billions in Low-Income Communities in the Deep South JACKSON, MS – Hope Enterprise Corporation’s (HOPE) investments in projects using federal New Markets Tax Credits (NMTC), a Treasury Department program geared to increase economic development in under-resourced communities, are projected to generate $5.1 billion in private sector investment over the next 20 years. Consistent with its community development mission, HOPE focuses its NMTC investments on projects, such as health care and education facilities, that promote economic mobility in distressed communities, leveraging an extensive network of local relationships.
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September 1st, 2021
HOPE Response to Historic Step by the CFPB Today, the Consumer Financial Protection Bureau (Consumer Bureau) took a significant step towards a fairer marketplace for small businesses. The Consumer Bureau released its proposed framework for requiring that lenders provide transparent data about their lending to small businesses and minority and women owned businesses. Congress mandated that the Consumer Bureau implement this framework under Section 1071 of the 2010 Dodd Frank Consumer Protection and Wall Street Reform Act, the overhaul reform legislation passed in the wake of the 2008 financial crisis. HOPE engaged with the Consumer Bureau during early stages of the proposal’s development, including serving on a panel of small lenders to provide feedback and guidance in the development of the proposed rules. The Consumer Bureau will seek public feedback on the proposed rules for 90 days following their publication in the Federal Register.
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August 18th, 2021
MEMPHIS, TN — Today, the Black Clergy Collaborative of Memphis (BCCM) and Hope Credit Union (HOPE) announced the launch of a partnership to provide alternatives to high cost, predatory loans and access to a full range of financial products and services to advance economic mobility among Memphis residents. Through the partnership, the two organizations will increase opportunities to build credit and wealth and access to financial resources in case of emergencies.
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June 2nd, 2021
SAN JOSE, Calif., June 2, 2021 – PayPal Holdings, Inc. (NASDAQ: PYPL) today announced it will deposit $135 million of its capital into mission-driven financial institutions and management funds that help underserved communities of color fight barriers to economic equity. Hope Credit Union received $10 million and will use these funds to advance business and homeownership among diverse entrepreneurs and homeowners.
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May 12th, 2021
Experienced executive leaders add depth to HOPE governance May 12, 2021 BIRMINGHAM, AL — Today, HOPE announced the appointment of Herschell Hamilton and Bernard Mays to the boards of the Hope Enterprise Corporation and Hope Credit Union (HOPE), respectively. Both Alabama natives, Hamilton and Mays bring deeply rooted community and business expertise to HOPE’s governance.
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March 25th, 2021
Experienced Lender Deepens HOPE’s Small Business Lending Expertise March 25, 2021 JACKSON, MS — Hope Enterprise Corporation/Hope Credit Union (HOPE) has announced the hire of Mel Robertson as Senior Vice President, Small Business and Consumer Lending, where he will be responsible for the development and implementation of HOPE’s small business lending strategy. An industry leader with nearly 20 years of experience in banking and economic development, he is also responsible for assessing the risk of loan requests and convening the credit committee to present recommendations from the broader team.
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