Jackson-based Hope Federal Credit Union CEO Bill Bynum has been appointed to the New Orleans Branch of the Federal Reserve Bank of Atlanta.
He will fill an unexpired term ending Dec. 31, and then to an additional three-year term beginning, Jan. 1, 2023.
He is a Towsley Policymaker in Residence at the University of Michigan Gerald R. Ford School of Public Policy and previously chaired the Consumer Financial Protection Bureau Consumer Advisory Board. Bynum is a graduate of the University of North Carolina at Chapel Hill.
Bynum serves on the boards of the Aspen Institute, NAACP Legal and Education Defense Fund and is an advisor to Bank of America, Goldman Sachs, Wells Fargo and E Pluribus Unum.
Hope Federal Credit Union is a Jackson-based credit union that specializes in lending and other financial services to underserved communities.
Bynum was recently part of a group that welcomed Vice President Kamala Harris to Greenville as part of a visit to tout President Joe Biden’s plan for investing in America’s small businesses and communities.
“We want to make sure to work with people like those in the Delta and make sure they are not limited by their race or their gender or where they happen to live,” Bynum said while introducing Harris.
Bynum actually started his business more than 25 years ago in a small space in the E.E. Bass building in Greenville where he introduced Harris. “We opened our first office to help small businesses to create jobs and give a lift to people who need it.”
Federal Reserve Bank of Atlanta Branch directors provide economic information from their industries and the Branch territory to the District Bank’s president and head office directors, who use the information in discussing monetary policy options and making discount rate recommendations. The Board of Governors appoints three of the New Orleans Branch directors, and the Atlanta head office directors appoint four.