Stewardship Report_Fall 2016

STEWARDSHIP REPORT FALL 2016

Together there is...

Dear Friends, Perhaps it was time spent in the Delta, a personal interaction with someone in need, a commitment to inclusion and equity, or the staggering statistics on persistent poverty in our region that called to you. It could be that you know firsthand how life changing a hand at the right time can be.

Whatever the reason, I thank you for joining with HOPE to create opportunity in the Mid South.

This Stewardship Report highlights how your support has fueled HOPE’s progress in increasing access to healthy food, bringing development financial services into Bank Deserts, and extending capital to minority and female business owners.

Together, not only are we making steady progress towards improving lives across the Mid South, but we are also developing solutions for struggling communities across the country.

Again, thank you for making HOPE possible.

Sincerely,

Bill Bynum, Chief Executive Officer

HOPE FOR THE COMMUNITY Fighting Food Deserts New Orleans, LA 40,000+ Mid South residents gained access to healthy food through HOPE’s Mid South Healthy Food Initiative.

New Orleans has vastly fewer food deserts today than just five years ago, according to research conducted

by Tulane University. The Tulane study found that the number of grocery stores and supermarkets within the city had returned to pre-Hurricane Katrina levels in 2014, and access to food is now more equitably distributed throughout the city. The report credits a significant portion of this growth to the City of New Orleans’ Fresh Food Retailer Initiative which is managed by HOPE. New Orleans native Ernest Roy says this program not only brought a grocery store to his neighborhood, but it also provided him with a job that he loves. Ernest serves as the team leader for Whole Foods Market, a part of the Broad-Refresh Project in Mid-City New Orleans which is now a hub for economic development. The Broad-Refresh project was financed by HOPE and served as one of the catalysts for development in this area. Ernest says that, through his work at Whole Foods, he is able to teach people how to live stronger, healthier lives.

HOPE FOR SMALL TOWNS Saving for the Future Itta Bena, MS Since launching five locations in the Mississippi Delta in 2015 and 2016, HOPE has gained nearly 1,400 new members and opened more than 2,500 accounts.

Steven lives and works in the Mississippi Delta and says he enjoys his quiet, peaceful life there. However, after the economic downturn in 2008, he watched both people and industry leave his community, including the town’s only grocery store. “There used to be a lot of places around here. We didn’t have to worry about jobs.” The news that the local bank would be leaving Itta Bena hit Steven hard. “It was like we were lost in the woods. We didn’t know what to do.” Then HOPE moved in. Steven says that when he learned about HOPE, he joined immediately. He particularly likes the small-town, family banking atmosphere. He worked with HOPE to get out of high-cost, predatory loans and was recently able to refiance his car loan. He is now saving about $250 per month on his car payment. He said he’s working with the credit union to build his credit and save for the future.

“I’m just going to stick with HOPE.”

HOPE FOR DEEPER IMPACT Building Relationships Little Rock, AR 87% of HOPE’s branches are in economically distressed communities.

HOPE recently opened a Little Rock branch to deepen impact throughout Central Arkansas. Members like Bill Holdeman are helping HOPE do just that. When Bill and his family moved to Little Rock, one of the first things they did was seek out a financial institution that shared their values. The Holdemans felt at home when they found HOPE. “It’s got that hometown feel, where they’re not just interested in a transaction. It’s relationships.” Bill and his wife are full-time missionaries who work with prisoners throughout Arkansas. Bill says his family plans to work with a local re-entry program that helps people who were formerly incarcerated get back into the workforce.

The Holdemans have reached out to HOPE to assist the program’s participants by setting up accounts and conducting financial education and counseling for them.

HOPE FOR SMALL BUSINESSES Overcoming Obstacles Memphis, TN From inception through the second quarter of 2016, 79% of HOPE business loans have been made in economically distressed areas.

Kim opened Bilingual Academy Memphis in 2005. “I saw the need for everyday people to be able to afford for their children to learn a second language.” Despite her passion for providing parents with quality, affordable education, the rising rent for her facility made it difficult to keep tuition costs low. So in 2015 she started looking for ways to purchase the property she had rented for the previous decade. “One of the biggest obstacles for us was trying to get financing. Being a small business with one owner, it was difficult.” Then Kim found HOPE. “HOPE provided us with the necessary funds to purchase the building, which saves us from paying the additional fees we were paying.” Kim plans to hire additional teachers and serve more students with the money she is now saving.

NON-PROFIT ORGANIZATION U.S. POSTAGE PAID JACKSON, MS PERMIT NO. 798

Hope Enterprise Corporation 4 Old River Place, Suite A Jackson, MS 39202