New Hope Credit Union Branch
Opens in Crosstown Concourse
By Shelia Byrd
If there is no struggle, there is no progress. – Frederick Douglass
JACKSON, MS – Hope Credit Union (HOPE), joined by community partners, credit union members and other supporters, held a ribbon-cutting ceremony on Thursday, June 14, for its new branch at Crosstown Concourse in Memphis, Tenn.
The new branch is the fifth location in Greater Memphis for HOPE, winner of the 2018 Wall Street Journal Financial Inclusion Challenge. The new branch allows HOPE to expand its ability to provide access to critical financial tools in underserved communities.
“The new branch builds on HOPE’s work in Memphis, where we not only create ladders of opportunities for families, but have made deep investments in the community by financing new schools and small businesses,” said HOPE CEO Bill Bynum. “HOPE goes into a community with the intention of not only improving conditions, but also to empower the families that live there. We work to ensure people have access to one of the most important relationships necessary for economic mobility.”
Tonja Sesley-Baymon, president and CEO of the Memphis Urban League, said during the ribbon-cutting ceremony that she was impressed with HOPE’s work to address predatory lending.
“When you look at areas of poverty, you often find that individuals in those areas are the ones who are targeted,” Sesley-Baymon said. “Because HOPE is in our community, we can eliminate a lot of the high-interest rates and a lot of the predatory practices.”
HOPE (Hope Enterprise Corporation, Hope Credit Union and Hope Policy Institute) provides affordable financial services; leverages private, public and philanthropic resources; and engages in policy analysis to fulfill its mission of strengthening communities, building assets, and improving lives in economically distressed parts of Arkansas, Louisiana, Mississippi and Tennessee. Since 1994, HOPE has generated over $2 billion in financing that has benefitted more than one million residents in one of the nation’s most impoverished regions.