Community Affairs:
Article Archive > Mississippi

Enterprise Corporation of the Delta/HOPE Community Credit Union Offers Opportunity to Help Rebuild
Enterprise Corporation of the Delta/Hope Community Credit Union (ECD/HOPE) is a partner for banks seeking to provide assistance in communities affected by Hurricanes Katrina and Rita. In the months since the hurricanes, cleanup and relief efforts continue, but increasingly the focus is shifting to rebuilding and planning for recovery of the affected areas. Tens of thousands of homes and businesses were destroyed or heavily damaged, displacing families, and disrupting lives. Banks can play a large and vital role in the rebuilding process.

ECD/HOPE can bring proven affordable housing, small business lending, and community development expertise to the victims of the hurricanes, as well as, participating financial institutions. ECD/HOPE is headquartered in Jackson, Mississippi, with offices throughout Arkansas, Louisiana, and Mississippi. ECD/HOPE is a nonprofit certified community development financial institution working to strengthen communities, build assets, and improve lives in economically distressed areas of the mid-South. It does this by providing financial and technical assistance to firms, entrepreneurs, homeowners and community development projects, and by forging strategic partnerships across the public, private sectors, and banks. Since its founding in 1994, ECD/HOPE has generated more than $200 million in financing and assisted more than 13,000 people in economically-distressed communities in the region.

For more information on investment and lending opportunities and how your bank can partner with ECD/HOPE, contact Bill Bynum, chief executive officer, at (601) 944-1100.
[Published in News from the Districts, Community Developments Investments, Spring 2006]

Mississippi's New Housing Loan Pool Operational
The Financial Institution Housing Opportunity Pool (FIHOP) was just recently developed by the Mississippi Home Corporation (MHC), with the assistance of the Mississippi banking community and bank regulators. Developed over a two-year period, FIHOP's initial thrust will be to fund developers of multi-family housing which will utilize low-income housing tax credits. The FIHOP Board of Representatives and the FIHOP Loan Committee, each made up of participating members, will determine the future lending goals and objectives of FIHOP. In addition to being a 10 percent participant in FIHOP, MHC has agreed to administer the program until such time as FIHOP can meet its administrative needs. The FIHOP program was initially developed to provide CRA investment opportunities to the banking community, as well helping MHC further its affordable housing mission. Initial capitalization is underway and letters of interest have been received from leading financial institutions.

Contact: Charles Morris (601) 718-4624; cmorris1@mshc.com; www.mshc.com.
[Published in News from the Districts, Community Developments, Winter 2003]

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