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Bill Bynum, the CEO of Hope Credit Union, has a few striking pictures hung in the walls of their Jackson, Mississippi, workplace.
There are 2 of him with U.S. presidents: Barack Obama and Bill Clinton. He suggested them (and George W. Bush) on community development. Bynum also offers a photograph of a little, blue, ramshackle home that he spotted while driving through the Mississippi Delta 1 day. The houseвЂ™s tin roof is rusted and also the front porch is collapsing. Bynum states it appears to be want it must certanly be bulldozed. Nonetheless itвЂ™s someoneвЂ™s home. He claims the image acts to remind him associated with credit unionвЂ™s mission: to get and provide in high-poverty, low-income communities, the kinds of places frequently ignored by big banking institutions.
BynumвЂ™s picture associated with the ramshackle house.
вЂњIt is irritating to operate a vehicle through the Delta and through low-income communities to see road part after road part, shopping strip after shopping strip plagued by payday loan providers, with check cashers with monetary predators, but no bank can be found,вЂќ Bynum claims.
This is the situation Bynum desired to deal with when he began Hope Credit Union in a room that is small their church in Jackson two decades ago. The initial people were their parishioners that are fellow. Today, Hope has 31,000 people and almost $300 million in assets. It offers expanded through the Southern, concentrating on communities which have few or no banking institutions.