Article Archives: Louisiana
Foreclosed Homes Become a New Opportunity for Louisiana's First-Time Home Buyers
For more information, contact Buddy Spillers at (318) 757-2361 or firstname.lastname@example.org.
Louisiana Initiative Promotes Adult Literacy
VITA also maintains technology and resource centers fully equipped with computer hardware and software for instructions in basic reading skills development related to the attainment of workplace foundation skills. In addition, VITA recruits bank employees to serve as instructors in the computer lab and teach financial literacy mini-courses on such topics as "How to Open a Bank Account," and "Checking vs. Money Orders." They also provide counseling on home mortgages, investments, and auto loans.
VITA is seeking to expand its partnerships with financial institutions by securing volunteer instructors and funding to support its ongoing programs. Bank employees who serve as volunteer tutors or instructors enable VITA to reach more adults and to devote its limited resources to other agency needs. For more information on the work of Volunteer Instructors Teaching Adults, Inc., and its core programs, go to its Web site.
Small Loans, Big Returns
Headquartered in Milwaukee, WtW makes its loans from 43 offices in 21 states: California, Delaware, Florida, Hawaii, Illinois, Indiana, Louisiana, Maryland, Michigan, Minnesota, Missouri, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Dakota, Texas, Virginia, Washington, and Wisconsin.
WtW offices are located in social service agencies affiliated with the Alliance of Children and Families (ACF). ACF agencies screen and provide financial education to borrowers and service the loans. WtW local offices provide financial education to more than three persons for every individual who receives a loan. Investors in WtW include several national foundations, the Community Development Financial Institution Fund of the U.S. Treasury Department, local United Way offices, and financial institutions. Banks can be involved by investing in the national WtW loan fund, by referring to local WtW offices prospective borrowers who do not meet conventional credit criteria, by participating in local WtW loan committees, and by providing grants and in-kind donations to WtW.
An Investment Opportunity in Northwest Louisiana
JPMorgan Chase is the lead investor with family and national foundations, both national and community banks, and institutional investors, such as pension funds and university endowments joining the fund.
The fund seeks to deliver market rate returns to investors and to create jobs, income, and community revitalization for LMI residents in a 10-parish region (Bienville, Bossier, Caddo, Claiborne, DeSoto, Lincoln, Natchitoches, Red River, Sabine, and Webster). This region represents emerging markets with substantial potential to contribute to the growth of Northwest Louisiana. Initial investments are expected in summer 2008, based on a pipeline of projects including mixed-income, mixed-use, workforce housing, and commercial joint ventures with developers and builders in the communities.
For more information, contact Karen Kasteel, Managing Director for the Kennedy Wilson Fund Management Group, at (310) 877-3414 or e-mail her; or contact J. B. Beaird, Manager/CEO at Beaird Operating Companies (the Local Investor Group), at (318) 221-8276 or e-mail him.
Enterprise Corporation of the Delta/HOPE Community Credit Union Offers Opportunity to Help Rebuild
ECD/HOPE can bring proven affordable housing, small business lending, and community development expertise to the victims of the hurricanes, as well as, participating financial institutions. ECD/HOPE is headquartered in Jackson, Mississippi, with offices throughout Arkansas, Louisiana, and Mississippi. ECD/HOPE is a nonprofit certified community development financial institution working to strengthen communities, build assets, and improve lives in economically distressed areas of the mid-South. It does this by providing financial and technical assistance to firms, entrepreneurs, homeowners and community development projects, and by forging strategic partnerships across the public, private sectors, and banks. Since its founding in 1994, ECD/HOPE has generated more than $200 million in financing and assisted more than 13,000 people in economically-distressed communities in the region.
For more information on investment and lending opportunities and how your bank can partner with ECD/HOPE, contact Bill Bynum, chief executive officer, at (601) 944-1100.
New Statewide Individual Development Account (IDA) Programs
For more information, please call Lina Alfieri Stern, Program Administrator, at (504) 865-5455.