HOPE Matters: September 2018

October 1st, 2018

HOPE Celebrates a Year in Alabama by Announcing Expansion Plans
In September, HOPE celebrated the one-year anniversary of its expansion into Alabama with an open house and ribbon cutting for our newly renovated Arba Street branch, and by announcing plans for a second branch in Montgomery, and a program office in Birmingham. The new branch, scheduled to open in early 2019, will be located in a former Regions Bank branch. Regions has also donated facilities to HOPE in Drew, Itta Bena, Moorhead, Shaw, Jackson and Terry MS, Memphis, and Little Rock. In Birmingham, Senior Vice President Kendra Key will lead efforts to identify projects and partnerships that take advantage of HOPE’s community development programs.

Visit to National Memorial for Peace and Justice & Legacy Museum Reaffirms HOPE’s Commitment to Economic Opportunity
The compelling experience of visiting the National Memorial for Peace and Justice and the Legacy Museum in Montgomery underscored for members of HOPE’s board and management the connection between HOPE’s work in the Deep South, and vestiges of a history that continues to limit economic mobility in the Deep South, particularly for communities of color. A HOPE colleague observed: “The raw presentation of the trauma experienced by many of the communities we serve was a searing reminder of why the work of advancing economic opportunity for all is so important. I left the experience heartbroken and disturbed—yet proud to be a part of an organization that can, through financial services, inspire optimism and empower the communities of the Deep South that have demonstrated resilience in the face of adversity time and time again.”

Applicants Welcomed for the Goldman Sachs 10,000 Small Business Program
HOPE encourages qualified businesses to apply to participate in the Goldman Sachs 10,000 Small Businesses Program (10KSB). The program offers a curriculum that focuses on practical business skills, including negotiations, marketing, and employee management. As the 10KSB lending partner for the Deep South, HOPE provides qualifying businesses with access to capital to support their growth plans. Small business owners can learn more about the program during a webinar scheduled for Oct. 8. Business owners selected for the program receive a full scholarship, with tuition and travel costs funded by the Goldman Sachs Foundation. To learn more, and apply for the program, visit www.10ksbapply.com.
Read a HOPE 10KSB success story.
Register for the webinar.

HOPE Partners with Wells Fargo and NeighborWorks America on NeighborhoodLIFT
NeighborhoodLIFT comes to Mississippi October 29! NeighborhoodLIFT is a national down payment assistance program sponsored by Wells Fargo and NeighborWorks® America. HOPE is the grant administrator for Mississippi. The program provides eligible homebuyers with $7,500 to use toward down payment and closing costs on qualified homes. For veterans and service members, teachers, paraprofessionals, law enforcement officers, firefighters and emergency medical technicians, the program provides $10,000.

HOPE Uses Municipal ID to Foster Financial Inclusion in Little Rock
HOPE is one of the few financial institutions to recognize Little Rock’s new municipal identification cards as a primary ID for opening bank accounts. The municipal card system is geared toward immigrants, the homeless, formerly incarcerated returning citizens, youth with unstable home environments, and other economically disadvantaged citizens who struggle to access city, financial and health services. HOPE’s participation in the municipal card system is part of ongoing efforts to expand access to financial services for multicultural and underserved communities. Read more about the IDs at the City of Little Rock website.

HOPE Helps Kick Off 2018 Prosperity Summit
Launching the 2018 Prosperity Summit in Washington D.C., HOPE CEO Bill Bynum joined a panel of thought leaders to discuss “Turning Adversity into Opportunity: How We Advance Economic Justice Today.” Speaking to an audience of 1,100 community development and business leaders, Bynum emphasized the importance of community input and collaboration, stating “I have great faith in, and have learned so much from the people we serve at HOPE. All their lives, many have been disrespected, disenfranchised and dismissed, but they persevere. The desire to survive and see a better future for their families pushes them through. And like us, they realize the best results when they join forces and to further their common interests.“ Others on the panel were Anne Marie Burgoyne, of the Emerson Collective; Jamie Kalamarides, of Prudential Group Insurance; Napoleon Wallace, of the North Carolina Department of Commerce, and Prosperity Now President Andrea Levere.

A Fresh Financial Path for a New HOPE Member
Without reliable transportation to work, Stewart Fawcus was at risk of losing his job. Fawcus could not get an auto loan because his credit score was too low. He says another financial institution “wanted me to put down $500 to take out a $500 loan, which I was never able to do.”

HOPE Policy Institute has been actively weighing in on a number of issues that impact the lives of people in the Deep South states of Alabama, Arkansas, Louisiana, Mississippi and Tennessee. Check out the newest research from Hope Policy Institute by clicking on the stories below.

Series: 20 Percent of Households in the Deep South Struggle to Afford Enough Food
Despite an improving economy, 20 percent of households in the Deep South reported that they struggled to buy enough food for themselves and their families during 2016–2017, according to a new report released by the Food Research & Action Center (FRAC, a national anti-hunger advocacy group).