HOPE CEO Bill Bynum says the Treasury investment represents a breakthrough for low-income communities. “By investing in credit unions and other Community Development Financial Institutions, Treasury is supporting a key segment of the nation’s finance sector”, says Bynum. “HOPE has experienced a steady increase in demand for credit over recent years as many traditional lenders have restricted their lending. The Administration and Congress are to be saluted for helping to insure that the nation’s hardest hit communities have access to the financing needed to stimulate economic recovery.”
HOPE and its primary sponsor, Enterprise Corporation of the Delta have generated over $1.5 billion in financing and benefited more than 75,000 individuals in the Delta, Katrina-affected areas and other distressed communities throughout Arkansas, Louisiana, Mississippi and Tennessee.