The 28,000-member, $161 million Hope Credit Union in Jackson,Miss., has rolled out a mobile banking app that it hopes will helpexpand banking services into even more of the largely unbanked andunderbanked Mississippi Delta region.

The new app has versions for both Android and iOS phones andwill allow members to check account balances, transactionhistories, transfer money between accounts and make deposits viatheir phones. This feature, in particular, will make the creditunion far more accessible to people who may live far from a creditunion branch or deposit-taking ATM.

“This can be a game changer for unbanked communities, and inplaces where the only financial options are check cashers, pawnshops and payday lenders,” said HOPE CEO Bill Bynum. “Increasingly, smartphones are a standardaccessory, regardless of income. By combining the Hope Mobile appand a HOPE Anytime Debit Card, people can have a full service abranch in the palm of their hands.”

At the 2012 Clinton Global Initiative America conference, HOPEannounced a commitment to double its presence and the number ofpeople it serves across the Mid South in in response to the highconcentration of un- and underbanked people in the region. The appis a step toward achieving those goals.

“People in low-wealth communities often face significantchallenges to meeting basic financial needs, a fact that severelylimits their economic options,” said Lisa Mensah, executivedirector of the Aspen Institute's Initiative on FinancialSecurity.

“While this is a difficult concept for those who see bankbranches on every corner in their neighborhood, more and morecommunities do not have a bank, something that has adisproportionate impact on blue collar workers and theelderly. Without an alternative like HOPE Mobile, they wouldspend an extraordinary amount of time and money on basic needs,”Mensah said.

“HOPE Mobile enables more people to enter the financialmainstream,” said Bynum. “Using a simple handheld device, peoplecan now exercise more control over their finances, keep more ofwhat they earn, and build a more stable financial foundation forthemselves and their families.”