CU outreach part of new Treasury financial inclusion initiative
WASHINGTON (12/7/15)--A new U.S. Treasury financial inclusion initiative has commitments from at least one credit union as it aims to connect individuals with affordable financial products and services. The Treasury announced the initiative last week, in partnership with the U.S. Agency for International Development.
During the Treasury’s Financial Inclusion Forum last week, the Treasury announced 10 new initiatives that are currently in progress.
One includes HOPE FCU of Jackson, Miss., which has teamed up with Regions Bank to establish Community Development Financial Institution branches in underserved areas in the Mississippi Delta.
HOPE FCU will open two new branches in Drew, Miss., and Shaw, Miss., rounding out a cluster of HOPE branches in the Delta, which is one of the nation’s most unbanked regions according to the Treasury.
“Delta communities need strong development finance tools to thrive,” said Bill Bynum, CEO of HOPE FCU. “We are excited to work with our longtime partner Regions Bank to create new opportunities for Drew and Shaw.”
According to HOPE FCU, Regions Bank donated the buildings for the new branches, which were formerly Regions Bank branches.