Winthrop Rockefeller Foundation Makes $250,000 Deposit in HOPE

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 distressedArkansas 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 manyArkansas 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 andWest Memphis, as well as loan production offices inForrest City,Little Rock, andStuttgart.

"For decades, the Winthrop Rockefeller Foundation has been at the forefront of developingArkansas 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 inArkansas,Louisiana,Mississippi andTennessee. 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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SOURCE Hope Community Credit Union

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