HOPE Name & Logo Go UP on Former American Savings CU Branches
For Immediate Release Contact: Scot Slay
June 30, 2009 Office: (601) 944-4175
Mobile: (601) 832-9872
Email: sslay@ecd.org
Hope Name and Logo Go Up on Former
American Savings CU Branches
Jackson, MS—While Hope Community Credit Union (HOPE) and American Savings Credit Union (ASCU) officially merged January 1, 2009, on July 1 all ASCU branches in Arkansas, Mississippi and Tennessee will convert their signage to the HOPE name and logo. The merger of these two entities formed a larger, stronger community development financial institution that serves working families throughout the Mid South.
The name change will affect all five ASCU branches: two in Memphis; one in Jackson, TN; one in Robinsonville, MS; and one in West Memphis, AR. HOPE already has an existing branch in Memphis, as well as branch locations in Biloxi, Camden, and Jackson, MS; College Station, AR; and New Orleans, LA.
“This is an exciting step in our efforts to provide more and better service to our 28,000 member-owners. Building on the strengths of both institutions, HOPE is providing vital resources for people struggling to weather the current financial crisis,” said HOPE CEO Bill Bynum. “Credit union members have always pooled our resources to help our neighbors through difficult financial times. This is more important now than ever before.”
ASCU was founded 50 years ago to serve the employees of International Harvester and their families. ASCU grew over the years to serve employees of more than 200 companies in Tennessee, Mississippi, and Arkansas. HOPE was started in 1995 as a small church project. Over the past fifteen years, HOPE and its nonprofit sponsor, ECD (Enterprise Corporation of the Delta), have assisted more than 70,000 individuals and generated over $1billion in financing for entrepreneurs, homebuyers, and community development projects across the Mid South.
The merger has provided greater access to financial services for members of both credit unions. Members now have access to an expanded menu of products and services that are an outgrowth of the combined institutions. HOPE is dedicated to helping its members navigate today’s difficult financial environment by making affordable financing available for a wide range of purposes, including the home mortgage and small business loans described below:
• Home Mortgage Loans – A HOPE mortgage loan may be the perfect choice for members in the current housing market. HOPE mortgages feature flexible terms, low down payments and affordable rates.
• Business Loans – Whether a business owner is just getting started, or is acquiring, stabilizing or expanding an existing business, HOPE offers a range of financing solutions and a team of experienced commercial lenders to help members reach their goals.
These are just two of the products and services that are available to HOPE members, including former ASCU members who are now part of the HOPE system. HOPE is working diligently to fully integrate all operations of both credit unions, with the process scheduled for completion by the end of 2009.
Membership in Hope Community Credit Union does not require employment with any specific company or institution, but is open to the public. Individuals who are interested in becoming members of HOPE may visit one of the now eleven branches serving Tennessee, Mississippi, Arkansas and Louisiana communities, or by calling 1-866-321-HOPE.
###