Enterprise Corporation of the Delta Changes Name to Hope Enterprise Corporation

Jackson, MS—Enterprise Corporation of the Delta, a nationally acclaimed community development financial institution, has adopted a new name: Hope Enterprise Corporation. The change, which became effective January 1, reflects the organizations geographic expansion beyond the Delta to other distressed areas in the Mid South; and its sponsorship of Hope Credit Union, one of the country’s largest community development credit unions. Collectively, the organizations will be branded as HOPE.

“Over the past decade our work has broadened in many ways,” said HOPE CEO Bill Bynum. “We are now applying the experience gained in the Delta to underserved rural and urban communities across the Mid South, as well as other areas of need, such as those affected by Hurricane Katrina and the BP oil spill.”

Established by prominent civic, business and community leaders in 1994 to provide financing and technical assistance to businesses in 55 counties and parishes in the Delta region of Arkansas, Louisiana, and Mississippi, the nonprofit organization now serves residents throughout these entire states, and in western Tennessee.

Over the years, HOPE has added a broad array of services designed to enhance its mission of strengthening communities, building assets, and improving lives in economically distressed areas. The organization is now involved in affordable housing development, home mortgages, financial counseling, consumer financial services, houses a policy center and provides project management for a wide range of development initiatives. Since 1994 HOPE has generated more than $1.4 billion in financing for entrepreneurs, homebuyers, and community development projects and directly benefitted more than 75,000 individuals.

In 2000 ECD began working closely with the $400,000, 1,000-member Hope Community Credit Union, ultimately becoming the credit union’s primary sponsor with the intent of enhancing the overlapping mission of both organizations. Today, Hope Federal Credit Union, with approximately $137 million in assets and 27,000 members has become a major vehicle for delivering financial services in the Mid South.

The name change does not diminish our historic and substantial commitment to the Delta,” said Billy Percy, a Delta businessman and chairman of the Enterprise Corporation since its inception. “For years the ECD and the credit union have worked together toward a common mission. The name change acknowledges the integrated and dynamic nature of how we operate. It bridges our history with our exciting plans for the future – in the Delta and throughout the Mid South.”