ASPEN, CO (July 30, 2013) -- Bill Bynum, CEO of HOPE (Hope Enterprise Corporation/Hope Credit Union), has been named a finalist for the sixth annual John P. McNulty Prize. The Aspen Institute and Institute Trustee Anne Welsh McNulty announced Bynum as one of four finalists, all extraordinary leaders who bring the spirit of innovation and excellence that characterizes their success in the private sector to bear on some of the most intractable issues of our time.
An advisor to three presidents on community development, small business and financial service matters, Bynum founded HOPE to provide access to credit and promote financial inclusion among the underbanked in America's most impoverished region. Since 1994, HOPE has generated over $1.7 billion in financing and directly benefitted more than 400,000 individuals.
"It is an honor to be named a finalist for this prestigious award with three other remarkable people," said Bynum. "I have been privileged to be a part of seeing HOPE grow from a small commercial loan fund to one of the nation's leading community development financial institutions. That growth speaks to the tremendous need for affordable financial services in the Mid South and is a testament to the hard work of our partners and staff."
The John P. McNulty Prize of $100,000 is given annually to honor the visionary work of a Fellow of the Aspen Global Leadership Network of the Aspen Institute; each of the finalists receives $10,000. HOPE's award will be used to support the "Friends of HOPE" campaign, a fundraising effort focused on creating financial oases in bank deserts.
An international panel of judges, including former Secretary of State Madeleine Albright, Indian parliamentarian and diplomat Shashi Tharoor, and international development expert Brizio Biondi-Morra, will select this year's winner, who will be announced November 6, 2013, in New York City.
"The remarkable accomplishments of these individuals and their organizations is a call to action to individuals across the private sector to step up, to bring their leadership abilities, their business acumen and resources to tackle the most difficult problems our world is facing," said Anne Welsh McNulty.
The other finalists are Manoj Kumar, CEO of the Naandi Foundation and creator of Araku Originals in India; Adam Lowry, Co-founder and Chief Greenskeeper of Method Products, Inc., in San Francisco, California; and Chinwe Onyeagoro of San Francisco, California, a top management consultant and founder of the Fundwell project.
Live video of the finalist announcement can be seen on July 30 from 8:45 p.m. - 10:00 p.m. CDT at: http://bit.ly/16kBye4. Watch a background video about the 2013 Finalists here: https://vimeo.com/71035024. Follow the event on Twitter at @AspenLeadersAct and #MyAspenAction.
Previous winners of the McNulty Prize are Amit Bhatia (Aspire India - 2012), Dele Olojede (NEXT - 2011), John Danner (Rocketship Education - 2010), Patrick Awuah (Ashesi University - 2009), and Jordan Kassalow (VisionSpring - 2008).
About HOPE
HOPE (Hope Enterprise Corporation/Hope Credit Union) is a community development financial institution, community development intermediary and policy center that provides affordable financial services; leverages private, public and philanthropic resources; and engages in policy analysis in order to fulfill its mission of strengthening communities, building assets and improving lives in economically distressed parts of the Mid South.
Since 1994, HOPE has generated more than $1.7 billion in financing and related services for the unbanked and underbanked, entrepreneurs, homeowners, nonprofit organizations, health care providers and other community development purposes. Collectively, these projects have benefitted more than 400,000 individuals in the Delta, Katrina-affected areas, and other distressed communities throughout Arkansas, Louisiana, Mississippi and Tennessee. This impact has been substantially multiplied by HOPE's policy and intermediary efforts, which have informed and influenced the flow of public and private resources to assist disenfranchised people and places across the Mid South and nationwide. More at www.hope-ec.org or www.hopecu.org.
About the John P. McNulty Prize
Founded by Anne McNulty in honor of her late husband John, the Prize aims to galvanize efforts to address the foremost social, economic and political challenges of our time by recognizing the very best in high impact leadership. Each year, the winner is selected by an international jury that has included Mary Robinson, Bill Gates, Sr., and Sir Richard Branson and recognizes exceptional leadership projects undertaken by the Fellows of the Aspen Global Leadership Network.
About the Aspen Institute
The Aspen Institute is an educational and policy studies organization based in Washington, DC. Its mission is to foster leadership based on enduring values and to provide a nonpartisan venue for dealing with critical issues. The Institute is based in Washington, DC; Aspen, Colorado; and on the Wye River on Maryland's Eastern Shore. It also has offices in New York City and an international network of partners. For more information, visit www.aspeninstitute.org.