Terry, MS (PRWEB) July 03, 2014
Community leaders, local residents and members of the faith community gathered in Terry to celebrate the opening of the town’s newest business – a full service branch of Hope Federal Credit Union (HOPE). After the town’s only bank branch closed this spring, the credit union responded by making a long term commitment to restore and expand financial services to area residents. Regions Bank donated the facility to HOPE.
The decision to open a branch in Terry is part of HOPE’s five-year strategic plan to double the number of places and people served – particularly in bank deserts. Bank deserts are defined by the U.S. Postal Service as a zip code in which fewer than two bank branches exist. When HOPE opened its doors, Terry met the bank desert criteria.
“Today’s celebration is a testament to what can happen when the community comes together to work towards a common goal,” said Bill Bynum, Chief Executive Officer of Hope Enterprise Corporation and Hope Federal Credit Union. “We are excited to call Terry home and to announce the opening of our newest branch.”
For local people, the opening of the branch is a welcome sight. “I’ve been a member and maintained my business account with HOPE for a number of years and they’ve always provided high quality products and services,” said Debra Hunter, a small business owner and resident of Terry. “By opening a branch on Main Street, the credit union is not only bringing HOPE to downtown, but to all of the people who live in Terry.” Ms. Hunter is the producer of Cooking with Honey & Friends, a local television show based in Terry.
Since its inception in 1994, HOPE has generated $2 billion in financing for entrepreneurs, homebuyers and community development projects, and assisted more than 500,000 individuals in low-income communities throughout the Mid South. Visit http://www.hope-ec.org and http://www.hopecu.org to learn more about HOPE.