The credit union that aims to be a “lifeboat” in times of crises

Marketplace, August 26, 2020

Growing up in segregated North Carolina, Bill Bynum recalled a credit union that was run out of the high school principal’s garage. The credit union helped Black people get loans at a time when other financial institutions were closed to them.

Now, decades later, Bynum is the CEO of Hope Credit Union, a Black-owned financial institution that has branches throughout the Mississippi Delta region. And while the scale has changed, Bynum’s mission isn’t so different from that garage credit union from his childhood: helping people who have few other places to turn.

“Marketplace” host Kai Ryssdal spoke to Bynum about Hope Credit Union and how the economy looks for the communities he serves. The following is an edited transcript of their conversation. Learn More

Scroll to Top