Rebekah Baker, Age 7: Member Owner

After winning a gift card at a “Black Financing for Business” course hosted by the Arkansas Small Business and Technology Development Center, Candace Baker researched HOPE and decided it was the right place to begin a nest egg for her 7-year-old daughter, Rebekah. “In central Arkansas, there are not very many opportunities to bank Black. That’s what drew us to HOPE, that they do so much for the Black community.”

Rebekah’s parents decided to open an account for her as part of their celebration of Kwanzaa in 2021, the first year the family had observed the holiday. The fourth principle of Kwanzaa is Ujamaa, Cooperative Economics. “We decided the gift to Rebekah that day would be to open a bank account,” Baker said.

Baker emailed HOPE Financial Inclusion Officer Kimberly Lee in late December. Masked up, the Bakers came in with their documents and $270 that Rebekah had saved from birthday and Christmas gifts.

Lee explained to Rebekah the significance of her decision to join HOPE, the importance of saving for something she really wants, and ways she can utilize her savings account. Rebekah, who loves to bake with her mom and sells Girl Scout cookies, said she is saving up to open a cookie business; her favorite cookies are snowball and chocolate chip.

The HOPE program officer also gave the family a 52-week “saving challenge” tracker, which Baker said has prompted her to think more about financial management and options for her own business banking.

“I’m trying to grow a business and I see the opportunity with HOPE as more likely to help me develop,” Baker said of HOPE’s focus on supporting Black-owned businesses in the South. “There’s an opportunity to compensate for systemic issues in banking. An opportunity to be successful in my business. When I think of HOPE, they do try to level that playing field.”

And when Rebekah thinks of HOPE, she’ll remember the warmth of Kimberly Lee, who praised her for depositing $270 at 7 years old and beginning her lifelong financial journey.