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Rockefeller foundation deposits 250000 in CDCU
COLLEGE STATION, Ark. (6/30/09)--The Winthrop Rockefeller Foundation will make a $250,000 deposit into $69 million-asset Hope Community CU, Jackson, Miss. (PR Newswire June 29). The gift is part of the foundation’s ongoing effort to help Arkansas families move from poverty to prosperity. HOPE and its nonprofit sponsor, Enterprise Corporation of the Delta (ECD), have offered affordable financial services and technical assistance to Arkansas’ working families, homeowners, entrepreneurs and small businesses for 15 years. The deposit is part of the Winthrop Rockefeller Foundation’s “Moving the Needle” strategy aimed at closing the educational and economic gaps that leave many Arkansas families in persistent poverty, according to President/CEO Sherece West. “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,” West said. “At the same time, our funds are safe and earning market interest rates.” HOPE plans to use the deposit to boost its ability to offer commercial loans, mortgages and consumer financial services to low-wealth people and communities. West said the deposit reflects a trend among both individuals and institutions to invest in socially responsible financial institutions that combine financial returns with community development. HOPE CEO Bill Bynum said he hopes the foundation’s deposit will inspire others to invest in ways that result in stronger communities.
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