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”.
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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.