Press Releases
January 6th, 2012
The Mississippi Economic Council recently released Blueprint Mississippi, an analysis designed to build a foundation of economic opportunity for all the state’s citizens. An independent collaboration among private organizations and leaders, Blueprint Mississippi makes several recommendations for improvements in several key areas including education, workforce development, and economic expansion. Significant emphasis is placed on the importance of diversity, and of supports for small, rural and minority businesses. HOPE is identified as a primary driver increasing the availability of financial capital, and as a key partner in several other areas. CEO Bill Bynum served on the steering council, and analysis provided by HOPE was instrumental to the development of the report, which can be reviewed at www.blueprintmississippi.com.
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December 9th, 2011
CDFI Finances Small Businesses to Create Jobs, Strengthen Communities JACKSON, MS – Hope Enterprise Corporation (HOPE) has been selected by the U.S. Small Business Administration (SBA) as its first lender in the Community Advantage Loan program in Mississippi. “HOPE has fostered jobs and economic development in underserved communities by ensuring that thousands of small businesses have access to the tools needed to succeed,” said HOPE CEO Bill Bynum. “For small, rural and minority entrepreneurs, financing can be the most elusive resource. With the Community Advantage program, we can help even more companies stabilize, grow and contribute to rebuilding the economy.” The Community Advantage pilot program, announced in December 2010, is designed to expand access to lower dollar loans and lending in traditionally underserved communities. SBA and the U.S. Department of Commerce studies have shown the importance of lower dollar loans to small business formation and growth in underserved communities. “We’re excited about HOPE’s participation in the program and look forward to additional eligible lenders to come onboard as well, in order to provide even more much needed financing to small businesses in underserved communities in Mississippi to help in their development and growth,” said Janita R. Stewart, District Director of the SBA in Mississippi. “Underserved communities were hit disproportionately hard by the recession and this program is designed to help toward improving those areas.” Community Advantage offers a streamlined application process for SBA-guaranteed 7(a) loans up to $250,000. Advantage loans also come with the regular 7(a) government guarantee, 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000. It is specifically aimed at expanding points of access to capital for small business owners by opening SBA’s 7(a) loan program to community-based, mission-focused financial institutions, including Community Development Financial Institutions, SBA’s Certified Development Companies and SBA’s nonprofit microlending intermediaries. Community Advantage leverages the experience these institutions already have in lending in economically challenged markets, along with their management and technical assistance expertise to help make their borrowers successful. “While other lenders have withdrawn from the market, HOPE has seen growing loan demand from small businesses,” said Bynum. “Our success at providing financing during these difficult economic times demonstrates that organizations like HOPE are more important than ever.” Businesses interested in obtaining financing can contact a HOPE lender at 1-877-843-3358. More information about the Community Advantage program is available at http://www.sba.gov/advantage. HOPE (Hope Enterprise Corporation/Hope Credit Union) is a is a regional financial institution, community development intermediary and policy center that provides affordable financial services; leverages private, public and philanthropic resources; and engages in policy analysis in order to fulfill its mission of strengthening communities, building assets, and improving lives in economically distressed parts of the Mid South. Since 1994, HOPE’s efforts have generated over $1.6 billion in financing and benefited more than 90,000 individuals in the Delta, Katrina-affected areas and other distressed communities throughout Arkansas, Louisiana, Mississippi, and Tennessee.
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November 25th, 2011
New Initiative Supports Small Business Lending from CDFIs NEW ORLEANS, LA – Hope Enterprise Corporation (HOPE) recently announced that it has been selected as the lending partner for the Goldman Sachs 10,000 Small Businesses initiative in the Greater New Orleans area. The partnership between the HOPE and Goldman Sachs will create jobs and stimulate economic growth by committing $20 million in capital for small business loans and subsidizing results-oriented business education for current small business owners. Program partners will include Delgado Community College and the Urban League of Greater New Orleans. New Orleans Mayor Mitchell Landrieu unveiled the initiative on Monday. “I’m committed to creating the jobs of the future and getting our economy back on track,” Landrieu said. “This is why I am bringing Goldman Sachs 10,000 Small Business initiative to New Orleans to focus on the issue of growing small businesses and creating jobs. This City has been through a lot, we have a lot of work to do, and it’s not going to happen overnight, but together, with partners like Goldman Sachs, we will usher in a new era of prosperity for our City.” “Small business growth is at the heart of the American and New Orleans’ economies,” said Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs. “We are very pleased 10,000 Small Businesses will be working with our partners along the Gulf Coast to provide local business owners with the resources to help them grow and create jobs.” Throughout the Greater New Orleans area, the 10,000 Small Businesses initiative will offer selected businesses: Business and Management Education: Small business owners will have access to a practical business education developed in partnership with leading national business schools and delivered by Delgado Community College (DCC), the oldest and largest community college in Louisiana. As part of the program, small business owners will develop a business growth plan to help them increase their revenues and hire new employees. The education is free to accepted business owners who are selected through a competitive application process. Access to Capital: Goldman Sachs is committing $20 million of lending capital as well as philanthropic support to the region through community development financial institutions (CDFIs) and similar institutions. HOPE, one of the nation’s leading CDFIs, is the first to participate. HOPE will also receive a grant to expand their capacity to deliver enhanced technical assistance to small businesses. Business Support Services: Business advice, technical assistance, and networking will be offered to participating small business owners through partnerships with the community colleges and national and local business organizations, as well as the people of Goldman Sachs. The Urban League of Greater New Orleans will sponsor new business workshops and training, coordinated with DCC, on government contracts and bidding. “Equipping small businesses with the tools they need to succeed has been central to HOPE’s mission since we opened our doors 15 years ago,” said HOPE CEO Bill Bynum. “One of the most important tools is access to capital. Another is technical expertise. By coupling properly […]
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November 2nd, 2011
Celebrates with Ribbon Cutting and Community Fair 11/5 For Immediate Release Contact: Scot Slay Office: (601) 944-4175 November 2, 2011 E-mail: sslay@hope-ec.org Hinds County, MS – HOPE (Hope Credit Union) has opened a full-service branch to serve residents of Utica, Mississippi, and surrounding communities. The location at 107 Depot Street is fully staffed and able to provide HOPE’s complete range of affordable, responsible financial products and related services. “This has been our vision since we started working with local leaders and developed our organizing committees: a local financial institution that is focused on putting the needs of its members first,” said HOPE CEO Bill Bynum. “We are proud to demonstrate our commitment to area residents and to be able to meet their needs as member-owners of HOPE.” The branch is open Monday through Friday from 10:00 a.m. until 4:00 p.m. and supported by a branch manager and two member service representatives. Individuals and businesses can take advantage of checking and savings accounts, consumer loans, mortgage financing, credit cards, online and mobile banking, and even small business loans. “Our support here has been overwhelming; there are so many families looking for practical solutions that will help them access and manage their assets,” said HOPE’s Utica Branch Manager LuxAnna Buckley. “Being here and reaching out to the community on a daily basis has really helped us jump start the branch and our new facility is a welcome addition to an area that was missing a banking outlet. HOPE is celebrating the new branch with a ribbon cutting ceremony and community fair on Saturday, November 5, beginning at 10:00 a.m. People will be able to enjoy free food, entertainment, financial education seminars, health screenings, giveaways, and fun activities including face painting, a space jump, and an obstacle course until 2:00 p.m. A broad coalition of elected officials, community leaders, businesses, and concerned individuals engaged the credit union to establish HOPE branches in response to the closing of the towns’ only banks. HOPE was based in the City Hall until the new facility became operational last week. Since BancorpSouth announced plans to close its doors at the end of August, area residents have been concerned about the impact of the bank closings on the local economy. Many have also worried that the lack of access to financial services will have a disproportionate impact on elderly residents, and that payday lenders, check cashing operators and other high-cost providers may seek to fill the void. “According to the FDIC, a higher percentage of Mississippians are unbanked and underbanked than in most other states,” said HOPE CEO Bill Bynum. “Everyone wants to live in a nice neighborhood, provide a good education for their kids, and a work at a job that pays decent wages. Affordable and responsible financial services are key elements that help make these things possible. At HOPE, we strive to make sure that people have access to these vital tools regardless of where they live.” HOPE is also providing access to its products and services for […]
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October 20th, 2011
HOPE Establishes New Office in Edwards Special Saturday Hours October 22 to Celebrate Hinds County, MS – Hope Credit Union (HOPE) is continuing to work with residents of Edwards, Mississippi, and the surrounding area to ensure that these Hinds County communities have convenient access to affordable, responsible financial products and related services in the long term. A broad coalition of elected officials, community leaders, businesses, and concerned individuals have engaged the credit union to establish a HOPE branch in response to the closing of the town’s only bank. As part of its continued growth in the area, HOPE will be open at the Edwards Town Hall every Tuesday from 10:00 a.m. until noon and from 1:00 p.m. until 3:00 p.m. The office will also be open for a special day on Saturday, October 22, from 10:00 AM until 3:00 p.m. as an additional opportunity for residents to visit with the credit union. HOPE staff will be on hand to provide information, answer questions, open accounts, and make loans to current and new members. “We are excited to be in this facility and it has been rewarding to see the positive reaction of people here in the community,” said HOPE Branch Manager LuxAnna Buckley. “They want to see their town remain prosperous and they know a convenient banking option is an important part of the equation.” A local organizing committee in Edwards is helping the credit union establish relationships with families and businesses. HOPE staff is reaching out to area organizations and participating in community events to learn more about the area and tailor its services to the needs of local families and businesses. “In many ways a credit union is like a bank We offer similar products and services, and our deposits are federally insured,” said Bynum. “However, at HOPE, our mission sets us apart – we target less populated, less affluent areas that are often underserved by traditional financial institutions. Another difference is that credit unions are owned by its members. Consequently, all revenue earned by HOPE is reinvested in providing better, more affordable services to those member-owners.” In May, BancorpSouth announced plans to close its doors at the end of August. Since that time, area residents have been concerned about the impact of the bank closings on the local economy. Many have also worried that the lack of access to financial services will have a disproportionate impact on elderly residents, and that payday lenders, check cashing operators and other high-cost providers may seek to fill the void. “We are committed to working with Edwards residents to respond to the loss of banking in their towns,” said Bynum. “HOPE’s success, and the future of financial services in these towns, will ultimately be decided by the people in these communities.” For more information about HOPE’s products and services or work in the Edwards area, people can call 1-866-321-HOPE (4673) or visit www.hopecu.org and search or “Edwards”. ### HOPE is a is a regional financial institution, community development intermediary and policy […]
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October 19th, 2011
For Immediate Release October 19, 2011 Contact: Scot Slay Office: (601) 944-4175 E-mail: sslay@ecd.org Celebrate International Credit Union Day with Hope Credit Union Mid South Organization Is Nationally Recognized Example of People Helping People Jackson, Miss. — On Thursday, October 20th, over 188 million credit union members will celebrate the impact of credit unions make in their communities during International Credit Union Day. This year’s event is particularly timely, as people worldwide express frustration with a widening wealth gap, and seek alternatives to the high fees and lending restrictions imposed by many large banks. “We are excited to be in this facility and it has been rewarding to see the positive reaction of people here in the community,” said HOPE Branch Manager LuxAnna Buckley. “They want to see their town remain prosperous and they know a convenient banking option is an important part of the equation.” A local organizing committee in Edwards is helping the credit union establish relationships with families and businesses. HOPE staff is reaching out to area organizations and participating in community events to learn more about the area and tailor its services to the needs of local families and businesses. “In many ways a credit union is like a bank We offer similar products and services, and our deposits are federally insured,” said Bynum. “However, at HOPE, our mission sets us apart – we target less populated, less affluent areas that are often underserved by traditional financial institutions. Another difference is that credit unions are owned by its members. Consequently, all revenue earned by HOPE is reinvested in providing better, more affordable services to those member-owners.” In May, BancorpSouth announced plans to close its doors at the end of August. Since that time, area residents have been concerned about the impact of the bank closings on the local economy. Many have also worried that the lack of access to financial services will have a disproportionate impact on elderly residents, and that payday lenders, check cashing operators and other high-cost providers may seek to fill the void. “We are committed to working with Edwards residents to respond to the loss of banking in their towns,” said Bynum. “HOPE’s success, and the future of financial services in these towns, will ultimately be decided by the people in these communities.” For more information about HOPE’s products and services or work in the Edwards area, people can call 1-866-321-HOPE (4673) or visit www.hopecu.org and search or “Edwards”. ### HOPE is a is a regional financial institution, community development intermediary and policy center that provides affordable financial services; leverages private, public and philanthropic resources; and engages in policy analysis in order to fulfill its mission of strengthening communities, building assets, and improving lives in economically distressed parts of the Mid South. Since 1994, HOPE’s efforts have generated over $1.6 billion in financing and benefited more than 90,000 individuals in the Delta, Katrina-affected areas and other distressed communities throughout Arkansas, Louisiana, Mississippi, and Tennessee.
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August 17th, 2011
Residents Take Financial Future into Their Own Hands Hinds County, MS – Hope Credit Union (HOPE) is working with residents of Utica and Edwards, Mississippi, to ensure that these Hinds County towns continue to have access to affordable, responsible financial products and related services in the long term. A broad coalition of elected officials, community leaders, businesses, and concerned individuals have engaged the credit union to establish HOPE branches in response to the closing of the towns’ only banks. In May, BancorpSouth announced plans to close its doors at the end of August. Since that time, area residents have been concerned about the impact of the bank closings on the local economy. Many have also worried that the lack of access to financial services will have a disproportionate impact on elderly residents, and that payday lenders, check cashing operators and other high-cost providers may seek to fill the void. “According to the FDIC, a higher percentage of Mississippians are unbanked and underbanked than in in most other states,” said HOPE CEO Bill Bynum. “Everyone wants to live in a nice neighborhood, a good education for their kids, and a job that pays decent wages. Affordable and responsible financial services are key elements that help make these things possible. At HOPE, we strive to make sure that people have access to these vital tools regardless of where they live.” HOPE has established a temporary location at Utica City Hall to open accounts, and plans to open a modular branch in the coming weeks as it finalizes plans for a permanent facility. Credit union staff is reaching out to area organizations and participating in community events to learn more about the area and tailor its services to the needs of local families and businesses. “It has been rewarding to see the reaction of people here in the community,” said HOPE Branch Manager Felicia Lyles. “They want to see their town remain prosperous and they know a convenient banking option is an important part of the equation.” A community meeting will be held at the Bonner Campbell College in Edwards at 6:00 p.m. on Monday, August 22, to talk with residents about the steps needed to establish a HOPE branch there. “In many ways a credit union is like a bank. We offer similar products and services, and our deposits are federally insured,” said Bynum. “At HOPE, our mission sets us apart – we target less populated, less affluent areas that are often underserved by traditional financial institutions. Another difference is that credit unions are owned by its members. Consequently, all revenue earned by HOPE is reinvested in providing better, more affordable services to those member-owners.” “We are committed to working with Utica and Edwards to respond to the loss of banking in their towns,” said Bynum. “However HOPE’s success, and the future of financial services in these towns, will ultimately be decided by the people in these communities.” For more information about HOPE’s products and services or work in the Utica and […]
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August 16th, 2011
As part of its effort to establish a branch in Utica, Mississippi, HOPE is inviting members of the management team of businesses in the area to join us for “Business After Hours” on Thursday, August 18, from 5:00 p.m. until 7:00 p.m. Join us for free refreshments at the Utica Community Center located at 414 East Main Street. This event is an opportunity for the business leaders of Utica to get to know Hope Credit Union. HOPE will make a brief presentation about our organization and what we are doing to meet the community’s needs. Our staff will be available to answer any questions that you may have regarding the products we currently offer to our members. Please contact Jeffery Virgil at 601-944-9305 to RSVP or for more information about this event.
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August 4th, 2011
Hope Credit Union representatives will join Utica residents at the city’s “A Night on Main Street” event on Thursday, August 4. People can stop by and talk to HOPE’s staff to find out more about the credit union’s affordable, responsible financial products and services and how we’re working to make sure local residents continue to have access to banking resources. We’ll have giveaways and there will be entertainment from the Westhaven Memorial Choir and Ralph Miller. So join us Thursday from 6:00 p.m. until 8:00 p.m. and get to know HOPE. See the event flyer.
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August 2nd, 2011
Join Hope Credit Union on Saturday, August 6, for a Community Fair in Louisville. HOPE is celebrating its one-year anniversary in Louisville and Macon and we want you to be part of the festivities. Visit our branch at 108 East Main Street on Saturday from 10 a.m. until 2 p.m. and enjoy free food (hamburger, space jumps, face painting, giveaways, music, a live and financial education seminars. You can take advantage of some special offers. Get free membership and discounts on loans and account services. Stop by and visit us to find out what HOPE can do for you. Just remember, for every dream there’s HOPE. Hope Credit Union. Call 662-773-3550 for more information. See the event flyer.
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