The Hope Unity Fund Statewide Network

Overview:
Offering a model of community development that is community controlled, the critical components of HUF's work has been building a network of organizations within Alabama grappling to find alternative, yet practical solutions to address economic development. HOPE is working to expand its provision of technical support, advocacy, and new financial resources through a well thought-out strategy that will affect the Minority Business Enterprise community, the Community Development Credit Unions, and the Community Development Corporations serving the low-wealth population.

Context:
HUF works in the low-wealth communities of Alabama's rural counties where the average unemployment is 11.1% and 50% of the children live in poverty Alabama is a large and diverse state, made up of metropolitan areas and widespread rural communities. Of Alabama's 67 counties, only 22 are classified as urban; 45 counties are identified as being rural representing 1.3 million people. Alarming statistics find that of the 15 counties with double-digit unemployment, 14 are rural; 10 of Alabama's counties represent the highest percentage of population over 65, 9 are rural; 15 of the school systems reporting the lowest SAT scores, 14 of which are rural; and most alarming 20 counties reporting the lowest median income, all are rural. This is not a unique situation or uncommon throughout the rural south, however what is unique is that the problems of Alabama's rural counties are not being addressed effectively as similar issues are in neighboring states.

Alabama is unique in that the problems of the rural communities are not being addressed in a significant manner. Alabama is made up of 67 counties, 22 of the counties are classified as Metropolitan and 45 counties being rural. While every other southern state has created, on the statewide level, some form of entity that deals solely with the concerns of the rural communities, Alabama has not. There are numerous individuals and organizations working on rural issues in Alabama however they are working independently rather than in concert with one another.

Collaborative Structure & Strategy (less than 200 words):
Hope Unity Fund functions as a statewide intermediary and convener for the community economic development movement in Alabama. As a collaborative, Hope Unity Fund includes community development corporations, community credit unions, and other nonprofits engaged in some form of community development work. Hope Unity was established in 1999 with the purpose of stimulating resident-led development within the state's most economically distressed communities. Hope was created with the vision of making community development a viable solution that yields increased homeownership opportunities, expanded opportunities for minority-business owners, and access to capital in low-wealth and minority communities in Alabama. HUF serves as the pivot point for the community development sector's efforts and resources that are intended to reverse Alabama's diminishing investment in rural counties

Projected Leverage and Impact (less than 200 words):
HUF seeks to build the necessary infrastructure that has the capacity to implement community development. Eventually HUF envisions its role as a statewide CDFI partnering with local banks to provide capital for development. This is the long-term plan, but the most immediate need for HUF continues to be that of incubating this process by creating the strategic conversations among the private and public sectors to use CED models as a viable strategy for rural transformation in Alabama. NRFC funding provides the Unity Fund the opportunity to sustain and build upon what they have been able to accomplished within the last four years.

Programs and Projects:

• Convene Financial Forums and Minority Enterprise focus groups- These forums serve as a part of HUF's outreach efforts to minority businesses by providing technical assistance resources to the businesses. Also provides HUF a point of entry to conduct research and assessment of minority business that serves as the basis for advocacy agenda for minority business community.
• Organize and build Community Development Credit Union Association- Work with core group of 8 CDCU and strengthen their current capacities, and develop a marketing plan that enhances the values of credit unions.
• Enhance profile into an improved assessment tool Objective is to expand current survey tool into more comprehensive device that better informs the AACDC on the services and resources offered to the CDC community.

Outcomes:
The mission of Hope Unity Fund is to stimulate community and economic development in Alabama's most distressed communities. by:

Building an effective industry of community development corporations;

Support the growth and expansion of minority-owned business; and

Strengthen the delivery of affordable credit and structured savings programs through Alabama's community development credit unions

Main Contact
Walt Higgins
Executive Director
Hope Unity Fund
whigginshope@bellsouth.net