Hope Credit Union https://www.hopecu.org/ Brighter Futures Begin with HOPE. Tue, 02 Dec 2025 18:33:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 https://www.hopecu.org/wp-content/uploads/2024/08/cropped-hope-site-icon-32x32.jpg Hope Credit Union https://www.hopecu.org/ 32 32 HOPE Economic Empowerment Center Open for Business https://www.hopecu.org/inthenews/press-releases/hope-economic-empowerment-center-open-for-business/ https://www.hopecu.org/inthenews/press-releases/hope-economic-empowerment-center-open-for-business/#respond Tue, 02 Dec 2025 16:30:00 +0000 https://www.hopecu.org/?p=22895 JACKSON, MS — Leaders from Hope Credit Union (HOPE) and the broader Jackson community gathered to cut the ribbon at the Hope Economic Empowerment Center on December 2. The event marked the expansion of HOPE’s presence in the Delta, and a facility where area residents will have access to a suite of products and services […]

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JACKSON, MS — Leaders from Hope Credit Union (HOPE) and the broader Jackson community gathered to cut the ribbon at the Hope Economic Empowerment Center on December 2. The event marked the expansion of HOPE’s presence in the Delta, and a facility where area residents will have access to a suite of products and services to buy homes, finance businesses and manage their daily affairs. Membership is open to anyone who supports HOPE’s mission of improving quality of life in the Deep South.

Modern, single-story building with large windows and "Hope Credit Union" sign above the entrance, set against a partly cloudy sky with landscaped greenery and an empty parking lot in front.

In partnership with local service providers, HOPE will also provide financial counseling, homebuyer education and entrepreneurial training at the Hope Economic Empowerment Center, and meeting space for nonprofit organizations and community groups.  

“The Hope Economic Empowerment Center will be a place where community comes together to help people prosper,” said HOPE CEO, Bill Bynum.

Mayor John Horhn was on hand to commend the project as a milestone in Jackson’s ongoing efforts to strengthen neighborhood economies and expand opportunity for residents. “Today represents hope in action,” said Mayor Horhn. “HOPE’s investment in our city helps ensure that Jacksonians have access to the tools, training, and financial resources they need to build a prosperous future.”

HOPE selected the location, the site of a vacant building that formerly housed two restaurants, to anchor redevelopment in North Jackson. HOPE incorporated the use of solar power and sustainable design elements in the construction of the facility.

The Hope Economic Empowerment Center is located at 5471 I-55 North in Jackson, MS 39206. It is open Monday-Thursday 8:30am-4:30pm and Friday 9:00am-5:30pm.

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About HOPE:  HOPE (Hope Enterprise Corporation, Hope Credit Union and Hope Policy Institute) provides financial services; leverages resources; and engages in advocacy that strengthens the financial health of people in under-resourced communities in Alabama, Arkansas, Georgia, Louisiana, Mississippi and Tennessee.  Since 1994, these efforts have benefitted more than three million people across the Deep South, and influenced billions in investments for persistent poverty communities nationwide.

Learn more at www.hopecu.org

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Hope Credit Union to Merge with 1st Choice Credit Union https://www.hopecu.org/inthenews/press-releases/hope-credit-union-to-merge-with-1st-choice-credit-union/ https://www.hopecu.org/inthenews/press-releases/hope-credit-union-to-merge-with-1st-choice-credit-union/#respond Wed, 30 Jul 2025 13:48:28 +0000 https://www.hopecu.org/?p=22162 Partnership brings prominent community development financial institution to the Peach State JACKSON, MS – Hope Credit Union, has agreed to merge with 1st Choice Credit Union in Atlanta.  Hope Credit Union, with its affiliates, Hope Enterprise Corporation and Hope Policy Institute (collectively known as HOPE), combine to form one of the nation’s most impactful community […]

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Partnership brings prominent community development financial institution to the Peach State

JACKSON, MS – Hope Credit Union, has agreed to merge with 1st Choice Credit Union in Atlanta.  Hope Credit Union, with its affiliates, Hope Enterprise Corporation and Hope Policy Institute (collectively known as HOPE), combine to form one of the nation’s most impactful community development organizations, and largest Black- and women-owned financial institutions.

With approximately 8,600 members, $32 million in assets, and branches at Grady Hospital and in the historic Sweet Auburn Historic District, 1st Choice serves employees of the Grady Health System, and is affiliated with the Morehouse School of Medicine, Emory School of Medicine, Southside Health Care Inc., Atlanta Life Insurance Company, and South Fulton Community Development Corporation.  

“1st Choice was founded in 1946 as Hospital Authority Credit Union to improve the financial health of Grady Hospital employees, their families and our neighboring communities,” said Billy Wright, Chief Financial Officer at Grady Health System.  “We look forward to partnering with Hope Credit Union to continue, and expand this 79-year legacy.”

According to HOPE CEO Bill Bynum, “The foundation laid by 1st Choice, and being in Atlanta, presents exciting opportunities to expand our alliances with healthcare providers, HBCUs, and other anchor institutions that are vital to a community’s wellbeing.  This partnership will substantially advance our goal of catalyzing an ecosystem across the Deep South where everyday people have the resources they need to prosper.”

With the expansion, HOPE will have locations in urban and rural communities throughout the Deep South, including Atlanta, Birmingham, Little Rock, Jackson, Memphis, Montgomery, New Orleans, and across the Mississippi Delta and Alabama Black Belt. 

HOPE assumed management of 1stChoice in July, and will work toward completing the merger this fall.

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About HOPE
HOPE (Hope Enterprise Corporation, Hope Credit Union and Hope Policy Institute) provides financial services; leverages resources; and engages in advocacy that strengthens the financial health of people in under-resourced communities in Alabama, Arkansas, Georgia, Louisiana, Mississippi and Tennessee.  Since 1994, these efforts have benefitted more than three million people across the Deep South, and influenced billions in investments for persistent poverty communities nationwide.

Awards and recognition received by HOPE include: Annie E. Casey Foundation Family Counts National Honors Award, Annie Vamper Award, Aspen Institute John P. McNulty Prize, CDFI Excellence Award for Advocacy, CDFI Excellence Award for Community Impact, Episcopal Network for Economic Justice Gloria Brown Award, Ernst & Young/Kauffman Foundation National Supporter of Entrepreneurship Award,  Heinz Award for the Economy, John W. Gardner Leadership Award, Myrlie & Medgar Evers Voices of Courage & Justice Award, NAACP Community Service Award, National Community Reinvestment Coalition James Leech Award, National Credit Union Foundation Herb Wegner Award, National Rural Assembly Rural Hero Award for Entrepreneurship and Investment, Ned Gramlich Award for Responsible Finance, and the Wall Street Journal Financial Inclusion Challenge.

Learn more at www.hopecu.org

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HOPE Executive Leadership Appointments Announced https://www.hopecu.org/inthenews/press-releases/hope-executive-leadership-appointments-announced/ Tue, 15 Apr 2025 04:00:00 +0000 https://www.hopecu.org/?p=21567 Cassandra Williams named President of Hope Credit Union Ed Sivak named President of Hope Enterprise Corporation JACKSON, MS— HOPE (Hope Enterprise Corporation/Hope Credit Union) has announced the appointment of Cassandra Williams as President of Hope Credit Union and Ed Sivak as President of Hope Enterprise Corporation.  Williams and Sivak’s appointments follow one of the most […]

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Cassandra Williams named President of Hope Credit Union
Ed Sivak named President of Hope Enterprise Corporation

In 2024, HOPE deployed more than $210 million to finance community development across the Deep South, exceeding its previous high mark by $40 million. As a result, Hope Credit Union led the nation in the rate of loan growth among its peer group of credit unions with assets between $500 million and $1 billion. HOPE’s net worth ratio ranked third nationally, an indicator of strong financial stability.

Cassandra Williams - President Hope Credit Union

As President of Hope Credit Union, Williams will oversee HOPE’s retail, mortgage, commercial and community and economic development operations. Williams joined HOPE in 1999 as a commercial loan officer in the Mississippi Delta. Since then, she has served in several key roles, stewarding HOPE’s entry into Memphis, ultimately becoming regional administrator for HOPE’s largest retail market. Most recently, as Chief Lending Officer, Williams provided executive guidance for commercial, small business and community facilities lending, and New Markets Tax Credits financing, leading HOPE to the highest levels of production and impact in the organization’s history.

A native of Clarksdale, Mississippi, Williams has represented HOPE on several boards and committees, including the Delta Region Community Health Systems Development Program and the Federal Reserve Bank of St. Louis Community Advisory Committee. She holds a Master’s in Business Administration from Delta State University.

“In 2024, HOPE launched an ambitious strategy to increase the rates of Deep South banking access, homeownership and business ownership to national levels,” said Williams. “With that plan as our roadmap, I look forward to ensuring that people throughout the Deep South, particularly those on the margins, have the resources needed to realize their potential.”

Ed Sivak President of Hope Enterprise Corporation

In his role as President of Hope Enterprise Corporation, Sivak will lead teams responsible for investor relations, human assets, communications, advocacy and corporate administration. Sivak joined HOPE in 2001, after serving as a summer intern.  In his early years, Sivak provided project management for several important initiatives, including a collaborative that generated $125 million for community development in the Delta, and another project that supported post-hurricane Katrina business recovery in New Orleans.

Sivak organized the Hope Policy Institute, reinforcing HOPE’s ability to extract data from its programs to influence policies and practices that affect Deep South residents. In addition to representing HOPE on local, state and federal policy matters, Ed serves on the board of Inclusiv (the national network of Community Development Credit Unions) and is president of the Jackson Public School Board. A former member of the Federal Reserve Board Consumer Advisory Council, Ed holds a Ph.D. in Public Policy and Administration from Jackson State University and a Master’s in Public Policy from Georgetown University.

“Throughout its history, HOPE has achieved its greatest impact when it collaborated with private industry, philanthropy and nonprofit organizations, helping our neighbors navigate the most difficult of circumstances” said Ed Sivak, President of the Hope Enterprise Corporation. “I look forward to serving in this new role and continuing HOPE’s legacy of importing resources into the region’s communities most in need, ensuring all people have the opportunity to thrive.”

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HOPE Makes Landmark Investment in Talladega College https://www.hopecu.org/inthenews/press-releases/hope-makes-landmark-investment-in-talladega-college/ https://www.hopecu.org/inthenews/press-releases/hope-makes-landmark-investment-in-talladega-college/#respond Thu, 10 Apr 2025 18:57:40 +0000 https://www.hopecu.org/?p=21549 Impact finance leader has supported 26 HBCUs across the Deep South Talladega loan is the latest example of HOPE’s alliance with HBCUs to increase economic mobility in the Deep South.  In 2019, HOPE published and disseminated the “HBCU-CDFI Economic Mobility Guide,” a seminal analysis that outlined key outcomes from collaboration between Jackson State University, Mississippi […]

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Impact finance leader has supported 26 HBCUs across the Deep South

Talladega loan is the latest example of HOPE’s alliance with HBCUs to increase economic mobility in the Deep South.  In 2019, HOPE published and disseminated the “HBCU-CDFI Economic Mobility Guide,” a seminal analysis that outlined key outcomes from collaboration between Jackson State University, Mississippi Valley State University and HOPE to improve conditions in under resourced rural and urban areas. HBCUs have long played a critical role in moving people along the economic continuum. Similarly, Community Development Financial Institutions, or CDFIs, invest in people and places that have been historically underbanked.

HOPE has generated over $60 million in investments to support HBCUs across the Deep South.  Examples include Oakwood University’s Healthy Campus 2020 program, a strategic initiative established to address poor health outcomes and preventable diseases among students and to help address health, food and job insecurity faced by low-income residents of Northwest Alabama; and financing that enabled Fisk University to finance the renovation of four historic buildings to enhance student services and academic programs, and complete technological and security upgrades throughout the campus.

“HBCUs make an outsized contribution to the prosperity of people and communities in the Deep South. Our investment in Talladega, Oakwood and Fisk reflect the alignment of mission and values between HOPE, HBCUs, and the communities they serve,” said HOPE CEO Bill Bynum.

HOPE’s investment in Talladega College comes at a pivotal time for Alabama’s first private historically black liberal arts college, known for academic excellence for over 150 years.  The infusion of working capital is expected to enhance the institution’s cash flow, support operational needs, and build a foundation for future growth. This initiative marks a key milestone in the college’s journey toward long-term sustainability following a series of strategic actions implemented since September 2024. 

“HOPE provides broad-based support for HBCUs.  Beyond financing for campus facilities and the surrounding communities, HOPE places a priority on being a financial resource to HBCU faculty, staff, students, alumni and their families, which are often underserved by traditional banks.   HOPE is also the primary financial institution for the HBCU Athletic Conference, the nation’s largest athletic conference for private HBCUs. 

“Our support for HBCUs is about more than dollars, or even the institutions themselves — it is an investment in the economy of the entire nation.  When HBCUs succeed, they equip our future workforce, future entrepreneurs and future leaders to drive an economy where everyone can prosper,” said Bynum.

HOPE invites HBCUs, community development partners, and philanthropic organizations to collaborate in shaping a more prosperous future. Visit our Community and Economic Development HBCU page to learn more.

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About HOPE
HOPE (Hope Enterprise Corporation, Hope Credit Union and Hope Policy Institute) provides financial services; leverages resources; and engages in advocacy that strengthens the financial health and wealth of people in under-resourced Deep South communities.  Since 1994, these efforts have benefitted more than three million people in Alabama, Arkansas, Louisiana, Mississippi and Tennessee, and influenced billions in investments in persistent poverty communities nationwide. Learn more at www.hopecu.org.

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Hope Credit Union Breaks Ground on HOPE Economic Empowerment Center https://www.hopecu.org/inthenews/press-releases/hope-credit-union-breaks-ground-on-hope-economic-empowerment-center/ https://www.hopecu.org/inthenews/press-releases/hope-credit-union-breaks-ground-on-hope-economic-empowerment-center/#respond Tue, 29 Oct 2024 23:45:09 +0000 https://www.hopecu.org/?p=20757 For Immediate Release                                                                                               October 30, 2024                                                                                                                Media Contact:hcu@fenton.comHolly Cooper, Senior Vice President of Marketing & Communications(601) 760-7998 Environmentally sustainable facility to serve as hub for community development and reinvestment in North Jackson JACKSON, MS—Today, Hope Credit Union (HOPE) broke ground on its newest location, the HOPE Economic Empowerment Center. The new center, will provide […]

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For Immediate Release                                                                                              

October 30, 2024                                                                                                                
Media Contact:
hcu@fenton.com
Holly Cooper, Senior Vice President of Marketing & Communications
(601) 760-7998

Environmentally sustainable facility to serve as hub for
community development and reinvestment in North Jackson

JACKSON, MS—Today, Hope Credit Union (HOPE) broke ground on its newest location, the HOPE Economic Empowerment Center. The new center, will provide members with a comprehensive suite of products and services to meet their individual financial needs and the needs of their families and businesses. Anyone who supports HOPE’s mission of improving the lives of people in low resource communities is eligible to join the credit union.

HOPE Economic Empowerment Center - Exterior Facade - East Elevation

In addition to providing greater access to its direct services through the Center, HOPE will partner with area nonprofits, colleges and universities, and other organizations to provide financial counseling, home buyer education, and entrepreneurial training classes and seminars.  Space will be made available for local groups to host meetings to discuss issues and solutions related to economic mobility in their community. 

The renovation of the formerly vacant building will model design elements such as solar power and efficiency upgrades that lower energy costs and improve environment sustainability, and serve as an anchor for reinvestment in a neighborhood plagued in recent years by commercial outmigration.

“HOPE was established 30 years ago to ensure that people in under resourced communities had access to the tools needed to support their families and realize their potential,” said Bill Bynum, CEO of Hope Credit Union, “The HOPE Economic Empowerment Center weaves together the experience, expertise and relationships we’ve garnered over three decades to create a powerful community hub that will drive our impact to new heights.”

“Financial resources are essential for people to position themselves and their families for success,” said Representative Bennie G. Thompson. “By making investments in small Delta towns and inner-city neighborhoods that support jobs, housing and economic stability, Hope Credit Union has become one of the nation’s most impactful financial institutions.  I’m thrilled that through the HOPE Economic Empowerment Center, they will equip even more families with the tools needed to take control of their financial futures.”

The Hope Economic Empowerment Center is expected to open in September 2025. It will be HOPE’s ninth location in the Jackson metro area.

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About HOPE:  HOPE (Hope Enterprise Corporation, Hope Credit Union and Hope Policy Institute) provides financial services; leverages resources; and engages in advocacy that strengthens the financial health and wealth of people in under-resourced Deep South communities.  Since 1994, these efforts have benefitted more than three million people in Alabama, Arkansas, Louisiana, Mississippi and Tennessee, and influenced billions in investments in persistent poverty communities nationwide. Learn more at www.hopecu.org

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HOPE Expands Executive Leadership Team https://www.hopecu.org/inthenews/press-releases/hope-expands-executive-leadership-team/ Mon, 03 Jun 2024 21:16:38 +0000 https://hopecu.org/?p=16168 JACKSON, MS —  HOPE (Hope Credit Union, Hope Enterprise Corporation and Hope Policy Institute), one of the nation’s leading community development financial institutions, announces the appointments of Chloe Dotson as Chief Program Officer, and Gopal Narasimhan as Chief Digital & Technology Officer.  The executives bring vital capacity to HOPE’s executive leadership team that fortify the […]

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JACKSON, MS —  HOPE (Hope Credit Union, Hope Enterprise Corporation and Hope Policy Institute), one of the nation’s leading community development financial institutions, announces the appointments of Chloe Dotson as Chief Program Officer, and Gopal Narasimhan as Chief Digital & Technology Officer.  The executives bring vital capacity to HOPE’s executive leadership team that fortify the organization for continued growth and impact.

As Chief Program Officer, Chloe Dotson leads HOPE’s Community and Economic Development (CED) team, which focuses on strengthening community infrastructure that increases economic mobility, such as affordable housing, healthcare, and education.  The CED team places a priority on collaborating with anchor institutions in under resourced communities, such as local municipalities, nonprofit organizations, and Historically Black Colleges and Universities.

Dotson has had both domestic and international work experience. In her previous role as the Director of Planning and Development for the city of Jackson, MS, Dotson led and managed a 150-person planning and development team to implement and update the city’s comprehensive plan. She also served as the Director of Real Estate Development for Come Dream Come Build (CDCB) in Brownsville, TX, where she advanced affordable housing opportunities in communities along the U.S. and Mexico border. “I have admired HOPE’s work for quite some time,” said Dotson. “I share the organization’s commitment to expanding economic opportunity throughout the Deep South and look forward to contributing to this critically important work.”

Gopal Narasimhan will lead HOPE’s Data & Analytics, Information Technology, and Strategic Technology teams. He comes to HOPE following a distinguished career of nearly two decades at FedEx, where he held multiple roles within Revenue Management, Marketing, Product, and Data. Most recently, he served as Vice President, Product at FedEx Dataworks, where he created new revenue streams and transformed internal functions through innovative digital solutions.

Over his tenure, Gopal’s leadership across Industry Verticals (including Healthcare, Aerospace, Automotive, High Tech, High Value Retail), Sensor Based Logistics, FedEx Logistics, and Emerging Markets have been key success factors in driving significant business growth for FedEx globally. Prior to his tenure at FedEx, he worked as an IT Consultant and Architect in the US, Germany, and Singapore. “In today’s world, data and digital have the ability to change the trajectory of people’s lives” said Narasimhan. “The ability to leverage technology with HOPE, to change outcomes in local communities is a once in a lifetime opportunity.”

“Opportunities to drive investment, and advance strategies that improve lives, strengthen infrastructure, and advance climate resiliency in historically under resourced communities has never been greater,” said HOPE CEO Bill Bynum. “Chloe Dotson and Gopal Narasimhan bring to HOPE vital expertise and experience as we seize this moment by empowering thousands of families to reach their potential, and accelerating progress toward a Deep South economy that works for everyone.”

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About HOPE

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Gulf Coast Athletic Conference Changes Name to HBCU Athletic Conference https://www.hopecu.org/inthenews/press-releases/gulf-coast-athletic-conference-changes-name-to-hbcu-athletic-conference/ Thu, 29 Feb 2024 20:12:39 +0000 https://hopecu.org/?p=15865 Announcement of new brand and deepened partnership with Hope Credit Union underscores commitment to increasing economic opportunity among HBCUs and their stakeholders. TUSCALOOSA, AL — On February 29, the Gulf Coast Athletic Conference (GCAC) announced that it will officially become the “HBCU Athletic Conference,” honoring the unique legacy and importance of Historically Black Colleges and […]

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Announcement of new brand and deepened partnership with Hope Credit Union underscores commitment to increasing economic opportunity among HBCUs and their stakeholders.

TUSCALOOSA, AL — On February 29, the Gulf Coast Athletic Conference (GCAC) announced that it will officially become the “HBCU Athletic Conference,” honoring the unique legacy and importance of Historically Black Colleges and Universities (HBCUs). Beginning July 1, 2024, the conference will also add HBCUs Stillman College, Voorhees University and Wilberforce Universities to its roster of schools.

“Today, the nation watches as we give our HBCU students the opportunity to take up space,” said Dr. Kiki Baker Barnes, Commissioner of the HBCU Athletic Conference. “Whether it’s on the field, in classrooms, or at their local bank, we want to ensure that HBCU students feel seen and represented. We couldn’t think of a better partner for this mission than Hope Credit Union. HOPE has continued to help push the boundaries of our shared vision to close the racial wealth gap, starting with some of our most important institutions – our campuses.”

United Negro College Fund research illustrates the outsized impact of HBCUs on the advancement of Black economic mobility: Though HBCUs represent fewer than 3 percent of American colleges and universities, they enroll 10 percent of all African American students and produce 17 percent of all African American graduates while disproportionately enrolling low-income, first-generation and academically underprepared college students.

“Stillman College is excited about the Hope Credit Union – HBCU Athletic Conference partnership. The tangible benefits for our students will be life-changing”, said Dr. Yolanda W. Page, President of Stillman College.

In 2022, Hope Credit Union (HOPE), one of the nation’s leading and most impactful Black- and women-owned financial institutions, became GCAC’s official financial institution and lead sponsor for the Men’s and Women’s Basketball and Baseball tournaments. The agreement announced today extends the partnership through June 2027.   In addition to the sponsorships, HOPE will work with GCAC institutions to increase economic mobility among their staff, students, alumni, and surrounding communities.

According to HOPE CEO Bill Bynum, “This partnership is a natural extension of our commitment to improving the financial health and wealth of under-resourced people and places in the Deep South. The contributions of HBCUs to America’s innovation, culture, and economy far exceed the resources they receive.  Investing in them and in the HBCU Athletic Conference is good business, and it’s good for the country.

Learn more about the HBCU Athletic Conference and Hope Credit Union partnership.

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About HBCU Athletic Conference

The HBCU Athletic Conference, formerly GCAC, is celebrating its 42nd year as a member of the National Association of Intercollegiate Athletics (NAIA). The GCAC is one of only five conferences comprised of members representing Historically Black Colleges and Universities in the United States. The GCAC membership includes Dillard University (LA), Fisk University (TN), Oakwood University (AL), Philander Smith College (AR), Rust College (MS), Southern University at New Orleans (LA), Tougaloo College (MS), and Wiley College (TX). On July 1, 2024, the conference will also add HBCUs Stillman College (AL), Voorhees University (SC), and Wilberforce Universities (AL) to its roster of schools.

About HOPE

HOPE (Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute) provides financial services; aggregates resources; and engages in advocacy to mitigate the extent to which factors such as race, gender, birthplace and wealth limit one’s ability to prosper. Since 1994, HOPE has generated more than $3.9 billion in financing that has benefitted more than 2.7 million people in Alabama, Arkansas, Louisiana, Mississippi and Tennessee. Learn more at www.hopecu.org.

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New Certification for Community Development Financial Institutions Represents Balanced Approach https://www.hopecu.org/inthenews/press-releases/new-certification-for-community-development-financial-institutions-represents-balanced-approach/ Thu, 07 Dec 2023 22:37:49 +0000 https://hopecu.org/?p=15672 JACKSON, MS – Today, the U.S. Treasury released updates to the Community Development Financial Institution (CDFI) Fund Certification Process. Upon release of the new standards, HOPE CEO, Bill Bynum released the following statement: “The updated CDFI Certification standards strike an important balance by prioritizing true mission lenders, while allowing for the flexibility required to meet […]

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JACKSON, MS – Today, the U.S. Treasury released updates to the Community Development Financial Institution (CDFI) Fund Certification Process. Upon release of the new standards, HOPE CEO, Bill Bynum released the following statement:

“The updated CDFI Certification standards strike an important balance by prioritizing true mission lenders, while allowing for the flexibility required to meet the unique challenges that face people in under resourced communities. As the new process is implemented, Treasury officials must emphasize accountability by ensuring that CDFI resources benefit those who have historically, and disproportionately lacked access to affordable, responsible financial services.”

Read more about the new certification standards here.

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$20 Million Commitment Announced for Rural Entrepreneurs in Arkansas and throughout the South https://www.hopecu.org/inthenews/press-releases/20-million-commitment-announced-for-rural-entrepreneurs-in-arkansas-and-throughout-the-south/ Fri, 27 Oct 2023 17:22:52 +0000 https://hopecu.org/?p=15512 HOPE Joins Goldman Sachs as Lead Partner to Expand Investment in Rural Communities Initiative Little Rock, Ark., Oct. 27, 2023 – Goldman Sachs 10,000 Small Businesses today announced it has expanded its $100 million Investment in Rural Communities initiative to Arkansas and is making a $20 million commitment to community development financial institution (CFDI) Hope Enterprise Corporation to foster […]

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HOPE Joins Goldman Sachs as Lead Partner to Expand Investment in Rural Communities Initiative

Little Rock, Ark., Oct. 27, 2023 – Goldman Sachs 10,000 Small Businesses today announced it has expanded its $100 million Investment in Rural Communities initiative to Arkansas and is making a $20 million commitment to community development financial institution (CFDI) Hope Enterprise Corporation to foster job creation and help catalyze economic growth across the region.

The new initiative, which first launched in North Dakota in September, is an extension of Goldman Sachs’ successful 10,000 Small Businesses program, which has served over 14,000 businesses across the country for more than a decade by providing access to education and capital. The initiative plans to reach rural small business owners in 20 states in the next five years.

“We are thrilled to expand our 10,000 Small Businesses program by partnering with the University of Arkansas – Pulaski Technical College and Hope Enterprise Corporation,” said Goldman Sachs Chairman and CEO David Solomon. “Through our work together, we can provide rural entrepreneurs with the resources, education and access to capital they need to create jobs and grow the economy.”

As part of the $100 million commitment of the initiative, Goldman Sachs is partnering with Hope Enterprise Corporation to provide support to rural small business owners in Arkansas and across the Southern U.S. In addition to deploying capital through CDFIs to provide loans to small businesses, the broader initiative also provides funding for the 10,000 Small Businesses education program at local community colleges and capacity-building grants to support access to capital.

“Access to capital is a top priority for small business owners across the country,” said Hope Enterprise Corporation CEO Bill Bynum. “We look forward to our continued partnership with Goldman Sachs to provide the financial stability that growing businesses need to thrive – in Arkansas, and other under resourced rural communities across the South.”

Goldman Sachs 10,000 Small Businesses already has a proven track record of working with rural small business owners. Survey data released last month found that 74% of rural small businesses have grown revenues and 72% have expanded their workforce as a result of this program.

The expansion was launched during a special event at the William J. Clinton Library and Museum, attended by U.S. Senators John Boozman (R-AR) and Tom Cotton (R-AR), Goldman Sachs Chairman and CEO David Solomon and numerous 10,000 Small Businesses participants and community stakeholders. Goldman Sachs’ educational partner in the region is University of Arkansas – Pulaski Technical College.

“I started a small business with my brother many years ago in Arkansas, and I recognize the challenges these entrepreneurs face in regard to workforce and access to capital and other resources,”said Arkansas Senator John Boozman. “Small businesses are the engines of Arkansas’s economy and I appreciate the training and resources that Goldman Sachs 10,000 Small Businesses has committed to provide support for our rural small business community.”

“Arkansas is proudly a state of small towns, and those towns depend on the opportunities and services of more than 250,000 small businesses. For our hometown communities to thrive, entrepreneurs across our state need every opportunity to succeed,” said Arkansas Senator Tom Cotton. “I’m grateful to the University of Arkansas – Pulaski Technical College and Goldman Sachs for working together to support the Arkansas small business leaders who keep our communities strong.”

“The 10,000 Small Businesses program gave me the tools and resources I needed to take my business to the next level,” said Sally Mengel, founder and owner of Loblolly Creamery and alum of Goldman Sachs 10,000 Small Businesses“The entrepreneurial spirit thrives in Arkansas, but our small business owners are often overlooked. I am excited that Goldman Sachs is furthering its commitment to supporting rural entrepreneurs in Arkansas and across the country.”

“Entrepreneurship is a vital pathway to economic stability for many rural communities. My husband and I founded our business out of necessity during the pandemic to bring in new revenue streams, but quickly found we needed more education about the foundation of our business to thrive,” said Samantha Stewart, co-founder and co-owner of Certified Pies and incoming Goldman Sachs 10,000 Small Businesses scholar. “I look forward to gaining valuable insights into optimizing my operations during this critical moment for my business by taking the 10,000 Small Businesses program.”

Goldman Sachs is committed to reaching a diverse and representative group of small business owners across rural America, where small businesses power the local economies. According to recent data from the Small Business Administration, small businesses operate nearly 85% of establishments and employ 54% of workers in rural communities. Through the expanded program, Goldman Sachs 10,000 Small Businesses will engage stakeholders, including retailers, farmers, ranchers, manufacturers and other business leaders on issues in their communities, creating lasting solutions for rural America.

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About 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing a comprehensive business education program and access to capital and business support services. To date, 10,000 Small Businesses has served over 14,000 small businesses across the United States. The program has reached businesses from all 50 states, Puerto Rico, and Washington, D.C. Learn more at www.gs.com/10ksb.

About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

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William J. (Bill) Bynum, CEO, Hope Credit Union Inducted into the American Academy of Arts and Sciences https://www.hopecu.org/inthenews/press-releases/william-j-bill-bynum-ceo-hope-credit-union-elected-to-american-academy-of-arts-and-sciences/ Fri, 29 Sep 2023 13:29:02 +0000 https://hopecu.org/?p=15411 JACKSON, MS – William J. (Bill) Bynum, Chief Executive Officer of HOPE (Hope Credit Union, Hope Enterprise Corporation and Hope Policy Institute) has been inducted into the American Academy of Arts and Sciences.  The organization honors individuals demonstrating excellence and innovation in the arts, democracy, industry, education, global affairs, and science. Selected for his business […]

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JACKSON, MS – William J. (Bill) Bynum, Chief Executive Officer of HOPE (Hope Credit Union, Hope Enterprise Corporation and Hope Policy Institute) has been inducted into the American Academy of Arts and Sciences.  The organization honors individuals demonstrating excellence and innovation in the arts, democracy, industry, education, global affairs, and science. Selected for his business leadership, Bynum joins a 2023 class of members that includes businesswoman Sheila Crump Johnson, director and producer Lin-Manuel Miranda, and biochemist and geneticist Emmanuelle Charpentier.

“Disparities in wealth and opportunity limit the potential of many Americans, particularly people of color, fostering a level of division comparable to the height of the Civil Rights Movement,” said Bynum.  “I am honored, humbled and inspired to stand alongside members of the Academy, past and present, to advance a just and equitable society.”

Founded in 1780, the American Academy of Arts and Sciences recognizes accomplished public, private and nonprofit sector leaders, and engages them “to cultivate every art and science which may tend to advance the interest, honor, dignity, and happiness of a free, independent, and virtuous people.”  Notable members from past classes include Benjamin Franklin, Alexander Hamilton, Ralph Waldo Emerson, Charles Darwin, Albert Einstein, Margaret Mead, Milton Friedman, John F. Kennedy, Martin Luther King, Jr., Stephen Hawking, Michelle Obama, Bryan Stevenson, Darren Walker and Sherilynn Ifill.

About American Academy of Arts & Sciences

The American Academy of Arts & Sciences, founded in 1780, is both an honorary society that recognizes and celebrates the excellence of its members and an independent research center convening leaders from across disciplines, professions, and perspectives to address significant challenges.

About HOPE

HOPE (Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute) provides financial services; aggregates resources; and engages in advocacy to mitigate the extent to which factors such as race, gender, birthplace and wealth limit one’s ability to prosper. Since 1994, HOPE has generated more than $3.7 billion in financing that has benefitted more than 2.5 million people in Alabama, Arkansas, Louisiana, Mississippi and Tennessee. Learn more at www.hopecu.org.

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