LOS ANGELES (9/23/14)--A credit union was recently featured in a GOBankingRates.com article that discussed a handful of financial institutions stepping up to serve underserved minority communities.
Among the "6 Exceptional Banks and Credit Unions That Serve Minority Communities" was Hope FCU, Jackson, Miss., with $188 million in assets.
Hope, which serves areas in Arkansas, Louisiana, Mississippi and Tennessee, reaches out to the communities it serves with a smartphone app that promotes financial awareness.
"Many people don't realize it, but Mississippi has the largest percentage of wireless households in the nation," Hope FCU President/CEO Bill Bynum told GOBankingRates.com (Sept. 16). "Lower-income households are foregoing getting a wired telephone line and moving straight to wireless, and they don't just have cellular phones, they have smartphones."
The money management app aims to help low-income individuals track savings and spending habits, and help them responsibly plan their future finances.