Expanding Financial Access in Itta Bena, MS

Johnnie Lee Murray lived in a Delta community without public transportation, and he was in need of a car. He applied for an auto loan shortly after HOPE opened its Itta Bena branch as part of an expansion into the Mississippi Delta.

Due to some past credit challenges, however, Murray did not immediately qualify. Rather than turn Murray away, HOPE’s team sat down with him and developed a plan to improve his credit.

Murray took out a small-dollar loan with half set aside as a savings account. Over the life of the loan, he never missed a payment. After paying off the loan, his credit score went up so when he applied for an auto loan, he was approved. He now drives a reliable vehicle, which is a necessity as he has to travel 10 miles to the nearest grocery store. Murray also has a savings and checking account with HOPE. And, he’s not alone – today more than 1,500 people bank out of the four branches that were donated to HOPE by Regions Bank.

Murray, who is employed by the city, said he was glad to see HOPE invest in the community. In his words: “When the town picks up, I pick up,” he said. “I was born poor so this is like a beginning for me.”