Because the outreach and service roles of its credit union have grown over the years, the Enterprise Corporation of the Delta has changed its name to the Hope Enterprise Corporation.
Receiving NCUA assistance, the $135 million Hope Credit Union of Jackson, Miss. said Friday it is completing a merger effective today of the struggling, low income East Central FCU of Louisville, Miss.
Community development credit unions that applied for funds from the Community Development Capital Initiative have started to receive them.
Kappa Alpha Psi Federal Credit Union, a predominantly African-American community development credit union headquartered in Addison, Texas, is fighting an NCUA liquidation order in court.
Bill Bynum, CEO of the Enterprise Corporation of the Delta, the sponsoring organization for the $122 million Hope Community Credit Union, will be among the leaders to testify before the House Financial Services Committee on March 9.
Bill Bynum says the Obama Administration's recent decision to use some funds from the Troubled Asset Relief Program to help community development financial institutions was the result of long consultations with the CDFI industry.