JACKSON, Miss.—HOPE, the umbrella organization over Hope Enterprise Corp., Hope Credit Union and Hope Policy Institute, has been named one of Fast Company’s 10 most innovative companies reflecting current events.
The recognition honors companies for innovative work on the most pressing issues of the day including COVID-19 response, the climate crisis, mental health and economic inequality, the credit union said.
The HOPE organizations provide financial services; aggregates resources; and engages in advocacy to mitigate the extent to which factors such as race, gender, birthplace and wealth limit one’s ability to prosper. HOPE reported it has generated or leveraged more than $3.6 billion in financing that has benefitted more than two-million people in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee.
“HOPE’s successful efforts to raise over $100 million in Transformational Deposits in partnership with the nation’s most prominent companies and mission aligned individuals to expand lending in capital-starved communities for entrepreneurs and homeowners of color,” Fast Company said in making the announcement.
Addressing Economic Distress
The announcement further explained that through the Transformational Deposit Program, companies, organizations and individuals make very low-cost deposits in HOPE. HOPE, in turn, uses the deposits to advance small business and home ownership among people and communities of color and places facing economic distress.
More information can be found at www.hopecu.org/Transform.
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