Winthrop Rockefeller Foundation Makes $250,000 Deposit in HOPE

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Mon Jun 29, 2009 10:00am EDT

Foundation Seizes Opportunity to Grow Funds and Support Community Development

COLLEGE STATION, Ark., June 29 /PRNewswire/ -- As part of its continuing
commitment to move the needle from poverty to prosperity for Arkansans, The
Winthrop Rockefeller Foundation has approved a $250,000 deposit into Hope
Community Credit Union (HOPE). 

(Photo: http://www.newscom.com/cgi-bin/prnh/20090629/CL39211)

For the past 15 years, HOPE and its nonprofit sponsor, Enterprise Corporation
of the Delta (ECD), have provided entrepreneurs, small businesses, homeowners,
and working families in economically distressed Arkansas communities with
access to affordable financial services and related technical assistance. 

"Increasingly, individuals and institutions are investing in socially
responsible financial institutions, like HOPE, that generate both financial
and community development returns," said Dr. Sherece West, president and CEO
of the Winthrop Rockefeller Foundation.  

"Investing in HOPE is a responsible way to complement our 'Moving the Needle'
strategy, designed to help close the economic and educational gaps that leave
too many Arkansas families in persistent poverty.  The board is committed to
moving low-income Arkansans from poverty to prosperity and knows that HOPE
will put our money to work supporting affordable housing, business
development, and other services in distressed areas.  At the same time, our
funds are safe and earning market interest rates."  

Mission-related investing allows private foundations to use a greater portion
of their assets to achieve their charitable purposes.  HOPE will use the
deposit to increase its provision of commercial loans, mortgages, and consumer
financial services to low-wealth people and communities.  HOPE and ECD have
offices in College Station and West Memphis, as well as loan production
offices in Forrest City, Little Rock, and Stuttgart.

"For decades, the Winthrop Rockefeller Foundation has been at the forefront of
developing Arkansas communities," said HOPE CEO Bill Bynum.  "Not only will
this deposit enable us to help more Arkansans weather this economic crisis,
but we hope others will follow the Winthrop Rockefeller Foundation's lead and
consider how they, too, can invest in making our communities stronger." 

Since 1994, HOPE and ECD have generated over $1 billion in financing for
entrepreneurs, homebuyers and community development projects, benefiting more
than 70,000 individuals in distressed communities throughout the Mid South.

For more information about making a safe, socially responsible investment in
the community, visit www.hopecu.org or call Crystal Gray at 1-866-321-HOPE.

About ECD/HOPE 
ECD/HOPE (Enterprise Corporation of the Delta/Hope Community Credit Union) is
a regional financial institution, intermediary and policy center dedicated to
strengthening communities, building assets and improving lives in economically
distressed areas in Arkansas, Louisiana, Mississippi and Tennessee.  ECD/HOPE
provides affordable financial products and related services; leverages
private, public and philanthropic resources; and engages in policy analysis
for the purpose of addressing development hurdles facing low-wealth people and
communities. For more information visit www.hopecu.org or www.ecd.org. 

About the WINTHROP ROCKEFELLER FOUNDATION 
Since 1974, the Winthrop Rockefeller Foundation has supported programs and
organizations that improve the quality of life for all Arkansans and that
promote systemic change. In committing itself to this mission, the Foundation
continues the progressive, cutting-edge visionary work that Governor
Rockefeller undertook in his personal life and philanthropy.  During the past
34 years, the Foundation has awarded over $123 million in grants.  For more
information on the Winthrop Rockefeller Foundation, go to
www.wrfoundation.org.

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Bill
Bynumhttps://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=84946


SOURCE  Hope Community Credit Union

Scot Slay, +1-601-944-4175, sslay@ecd.org, for Hope Community Credit Union
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