Published, Spring 2006
Through our Community Development Investment
Service, Walden clients have invested in numerous
community development banks, credit unions,
and loan funds. We are pleased to be including
ECD/HOPE in this service.
When Hurricane Katrina devastated
the Gulf Coast last
August, Jerry Moore, a New
Orleans resident, was in the right place to
grow his construction hauling business.
There was only one problem. Even though
Jerry and his family had evacuated the city
safely, the hauling truck he used for his
business was destroyed.
Jerry was already a member of Hope
Community Credit Union (HOPE), having
learned about the credit union last
June when he attended a financing course
at the Contractor’s College in New
Orleans led by a HOPE branch manager.
Later that year, Jerry’s church became a
partner in the HOPE Affinity Network
and began offering HOPE’s services to the
congregation. When Jerry came in to open
a checking account, he inquired about a
commercial loan. As a result, he used a
HOPE loan to secure a dump truck for his
After the hurricane, HOPE worked
with Jerry to settle the insurance claim on
the vehicle. He needed to resolve the situation
quickly in order to respond to the
urgent demand for contractors to help
clear debris. Recently, Jerry financed two
additional trucks through HOPE, and two
trailers through HOPE’s Enterprise
Corporation of the Delta (ECD).
Jerry Moore is one of many HOPE members in the hurricane-ravaged
area assisted by the organization during recent months. Throughout its 11 year
history HOPE has focused its services on economically distressed communities in
the Mid- South. Working together, ECD and
HOPE provide a range of financial and
technical assistance to their individual
members and their families, as well as to
small businesses, nonprofits, and community
According to ECD/HOPE’s CEO,
Bill Bynum, “HOPE allows socially
responsible individuals and institutions to
make a risk-free investment in people and
communities that need it most. Depositors
have enabled HOPE to help thousands of
people. In light of Katrina, the need and
opportunity for HOPE to make a difference
in people’s lives is greater than ever.”
The main objectives of ECD/HOPE’s
hurricane-related efforts are: fostering
affordable, quality housing for low-wealth
residents affected by the hurricane; helping
businesses and nonprofits recover; and
providing access to affordable financial
products and services to help people
rebuild their lives and their communities.
Since Hurricane Katrina, HOPE has
made more than 400 no-interest bridge
loans to help sustain families, homeowners, businesses, and nonprofits while they
wait for insurance and government payments.
Many of these have been made by
a depleted staff contingent at HOPE’s
New Orleans branch.
Through its Hurricane Relief Fund,
ECD has routed more than $500,000 to
faith and community-based organizations
working directly with low-wealth people
affected by the hurricanes in Mississippi
Based in Jackson, Mississippi, with
offices throughout the region,
ECD/HOPE has generated more than
$200 million in financing and assisted
more than 20,000 individuals in economically-
For more information, visit www.hopecu.org or call toll-free
Through our Community Development Investment Service, Walden clients have
invested in numerous community development banks, credit unions, and loan funds.
We are pleased to be including ECD/HOPE in this service.