Celebrates with Ribbon Cutting and Community Fair 11/5
For Immediate Release
Contact: Scot Slay Office: (601) 944-4175
November 2, 2011 E-mail: [email protected]
Hinds County, MS – HOPE (Hope Credit Union) has opened a full-service branch to serve residents of Utica, Mississippi, and surrounding communities. The location at 107 Depot Street is fully staffed and able to provide HOPE’s complete range of affordable, responsible financial products and related services.
“This has been our vision since we started working with local leaders and developed our organizing committees: a local financial institution that is focused on putting the needs of its members first,” said HOPE CEO Bill Bynum. “We are proud to demonstrate our commitment to area residents and to be able to meet their needs as member-owners of HOPE.”
The branch is open Monday through Friday from 10:00 a.m. until 4:00 p.m. and supported by a branch manager and two member service representatives. Individuals and businesses can take advantage of checking and savings accounts, consumer loans, mortgage financing, credit cards, online and mobile banking, and even small business loans.
“Our support here has been overwhelming; there are so many families looking for practical solutions that will help them access and manage their assets,” said HOPE’s Utica Branch Manager LuxAnna Buckley. “Being here and reaching out to the community on a daily basis has really helped us jump start the branch and our new facility is a welcome addition to an area that was missing a banking outlet.
HOPE is celebrating the new branch with a ribbon cutting ceremony and community fair on Saturday, November 5, beginning at 10:00 a.m. People will be able to enjoy free food, entertainment, financial education seminars, health screenings, giveaways, and fun activities including face painting, a space jump, and an obstacle course until 2:00 p.m.
A broad coalition of elected officials, community leaders, businesses, and concerned individuals engaged the credit union to establish HOPE branches in response to the closing of the towns’ only banks. HOPE was based in the City Hall until the new facility became operational last week.
Since BancorpSouth announced plans to close its doors at the end of August, 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.
“According to the FDIC, a higher percentage of Mississippians are unbanked and underbanked than in most other states,” said HOPE CEO Bill Bynum. “Everyone wants to live in a nice neighborhood, provide a good education for their kids, and a work at a job that pays decent wages. Affordable and responsible financial services are key elements that help make these things possible. At HOPE, we strive to make sure that people have access to these vital tools regardless of where they live.”
HOPE is also providing access to its products and services for residents in Edwards and the surrounding area. Credit union staff is located in the Town Hall every Tuesday from 10:00 a.m. until noon and from 1:00 p.m. until 3:00 p.m. HOPE 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. “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.”
For more information about HOPE’s products and services or work in the Utica and Edwards area, people can call 1-866-321-HOPE (4673) or visit www.hopecu.org and search “Utica/Edwards Initiative”.
See the event flyer.
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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.