MEMPHIS, Tenn. – Hope Community CU said it has bought a downtown bank branch here where it plans to build its first Memphis branch.
Enterprise Corp. of the Delta, the parent of the community development credit union, bought a 4,028 square-foot building that had served as a branch for Regions Bank for $810,000.
The CDCU recently opened a new branch in hurricane-ravaged New Orleans and also is building a branch in Biloxi, Miss.
The Jackson, Miss.-based CDCU has been one of the fastest growing credit unions in the country since Hurricane Katrina devastated some of its field of membership in 2005. It has grown to $62 million in assets at year-end 2007, from $38 million before the massive storm hit.
The CDCU had only $4.5 million in assets as recently as mid-year 2004.
