Featured
December 8th, 2016
In October, HOPE hosted a visit from the US Partnership on Mobility from Poverty in the Mississippi Delta to share the challenges and opportunities that exist in the nation’s most persistently impoverished region. Funded by the Bill & Melinda Gates Foundation and managed by the Urban Institute, the Partnership is a collaborative aimed at discovering permanent ladders of mobility to help people climb out of poverty. Learn more about the Delta visit by visiting the links below. Raising Hope: Expanding financial access in the South: an interview with Mobility Partnership member and HOPE CEO, Bill Bynum Learning in the Delta: a video that chronicles the Mobility Partnership’s Delta visit Opportunity: From sea to shining sea: reflections from Nisha Patel, Executive Director of the Mobility Partnership, on its engagement with communities across the country
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November 18th, 2016
HOPE to invest award in most economically distressed Mid South communities JACKSON, MS – HOPE (Hope Enterprise Corporation and Hope Credit Union) will receive a $50 million New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s Community Development Financial Institution Fund. HOPE will use the allocation to invest in projects that benefit economically distressed communities across the Mid South. “These tax credits will help HOPE build on its 22-year track record of improving lives, strengthening communities and building assets in the Delta and in the surrounding states of AR, LA, MS, and TN,high quality” said Bill Bynum, HOPE Chief Executive Officer. “We look forward to investing in projects that improve conditions for underserved people and places.” The NMTC allocation is HOPE’s fourth. To date, HOPE’s NMTC activity has created or retained 3,000 jobs and facilitated access to high-quality health care for over 100,000 patients.
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October 13th, 2016
HOPE and DRA also announce launch of the Small Towns Partnership FAYETTE, MS – HOPE (Hope Enterprise Corporation and Hope Credit Union) joined the United States Department of Agriculture Rural Development to announce $40 million in investments through the USDA Community Facilities Re-lending Program. Through the program, HOPE will receive $40 million in low-cost, long-term debt capital to re-lend to hospitals, schools, municipal and nonprofit buildings and other important community facilities. HOPE was one of 26 community development organizations nationwide to receive an award and the only credit union recipient in the country. Notably, the USDA Funds are designated for deployment in rural communities located in persistent and high poverty counties.
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September 6th, 2016
Yes! Magazine recently published an article highlighting the importance of and the difference made by CDFIs in the Mississippi Delta. HOPE (Hope Enterprise Corporation and Hope Credit Union) and a number of other CDFIs from the region are profiled. Read the full article: Banking on Justice Yes! Magazine | James Trimarco | August, 2016
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September 1st, 2016
HOPE (Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute) will participate in National Voter Registration Day (NVRD), a nationwide, nonpartisan effort to register thousands of voters on Tuesday, September 27. The organization will host HOPE for Our Future voter registration drives at select credit union branches through HOPE’s service area. Volunteers will be on hand at the branches to assist people who want to register or update their registration if they have moved. NVRD is the deadline to register or update your registration status in many states. Be sure to check your states’ registration requirements.
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August 19th, 2016
Since going dormant in 2002, a former elementary school in a New Orleans’ Central City neighborhood has been given new life. Dryades Public Market recently opened on O.C. Haley Blvd., just down the street from HOPE’s branch. The project was funded through the New Orleans Fresh Food Retailer Initiative (FFRI). Managed by HOPE, After having a credit application denied, Kim, a mother of four and grandmother of eight, knew she needed help. She asked around for advice, and a former employer introduced her to HOPE. After working with the HOPE team to develop a budget, Kim received a Borrow and Save Loan. Six months later, Kim’s credit FFRI increases access to healthy foods by bridging financing gaps that often exist for grocers seeking to serve low-income areas. Since 2011, HOPE has financed nine healthy food projects and directly invested or leveraged $32.6 million.
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August 19th, 2016
Theodore Roosevelt suggested that one should “Speak softly and carry a big stick.” Tommy Cox‘s twist on this philosophy might be, “Speak softly and carry a paint brush.” Mr. Cox, a 43-year professional painting contractor with a bright smile, only speaks when necessary. It was necessary when his wife passed away unexpectedly. “We weren’t married when she bought the house. I had to refinance it and put it in my name,” he says. Even though they had lived together in their Memphis home for 16 years, in just a couple months, the former mortgage company had put the house up for sale, with Mr. Cox still living in it. Mr. Cox tried three different financial institutions before coming to HOPE. It took about a month and a half to get it all cleared up with HOPE’s help, Mr. Cox says. His HOPE mortgage also saved him money. His new interest rate was 2.5% lower than his previous house note, and he takes solace in being able to stay in the home he once shared with his wife.
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August 19th, 2016
I In July, the U.S. Department of Agriculture announced changes to the Community Facility Direct Loan Program that opens up the program to Community Development Financial Institutions (CDFIs). Through the program, CDFIs will now have access to up to $500 million in very low-cost, long-term capital to finance rural hospitals, schools, and other facilities in persistent poverty areas. The announcement coincided with the development of the Uplift America Fund which will provide grants to bolster the balance sheets and operating capacity of CDFIs to take on the USDA project. The program’s announcement marks a major win in the HOPE initiated Campaign to Tackle Persistent Poverty which was launched at the 2014 policy conference.
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April 29th, 2016
Philadelphia, PA – Hope Enterprise Corporation (HOPE) was named as an honoree for the Barry & Marie Lipman Family Prize. Chosen from more than 170 applicants around the globe, HOPE will receive executive training support and access to the networks of the Wharton School and the University of Pennsylvania. In addition, HOPE will receive $50,000 to support its work to create opportunity for people living in economically distressed communities across the Mid South states of Arkansas, Louisiana, Mississippi and West Tennessee.
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April 26th, 2016
On Monday, April 25, 2016, the Aspen Institute announced the election of seven new trustees, including HOPE CEO, Bill Bynum. A recipient of the John P. McNulty Prize awarded to a Fellow of the Aspen Global Leadership Network, Bynum brings more than three decades of community development experience to the board. The Aspen Institute is an educational and policy studies organization based in Washington, DC. Its mission is to foster leadership based on enduring values and to provide a nonpartisan venue for dealing with critical issues.he Aspen Global Leadership Network, Bynum brings more than three decades of community development experience to the board. The Aspen Institute is an educational and policy studies organization based in Washington, DC. Its mission is to foster leadership based on enduring values and to provide a nonpartisan venue for dealing with critical issues. To read more about the incoming class of board members click here.
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