Bill Bynum

William J. Bynum
Born	East Harlem, New York City, U.S.
Occupation(s)	Entrepreneur, philanthropist
Known for	CEO and founder of Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute (HOPE)

William J. Bynum is a prominent American entrepreneur and philanthropist, recognized as the CEO and founder of Hope Enterprise Corporation, Hope Credit Union, and the Hope Policy Institute—collectively referred to as HOPE.

Early life and education

Bynum was born in East Harlem, New York City, before relocating with his family to Bynum, North Carolina at age five. He pursued higher education at the University of North Carolina Chapel Hill, where he completed dual majors in psychology and political science. During his time at the university, he led the Black Student Movement as its chair. Although admitted to UNC's law school, Bynum opted instead to engage with a labor organization, which ignited his passion for labor rights and employment issues.

Career

Launching his professional journey at the Center for Community Self-Help, Bynum was supported by a modest $77 loan from local workers. Motivated by his grandmother’s experience with credit unions serving African American communities, he dedicated himself to community-focused banking initiatives. In 1989, he contributed to the North Carolina Rural Center by facilitating microloans aimed at low-income business owners.

In 1994, George Penick from the Foundation For The Mid-South invited Bynum to oversee a $1.5 million grant designed to stimulate economic growth in Mississippi. Upon moving to Jackson, Mississippi, Bynum played a key role in establishing the Enterprise Corporation of the Delta, a nonprofit organization committed to promoting business development and quality employment opportunities throughout Arkansas, Louisiana, and Mississippi.

HOPE Credit Union

After joining a local church, Bynum was approached by pastor Jeffery A. Stallworth, MDiv, BCC with the idea of creating a credit union that would provide alternatives to payday loan services and other alternative financial services. While continuing his responsibilities at Enterprise Corporation, Bynum helped develop this credit union, which eventually merged with Enterprise. HOPE expanded its presence from Jackson to New Orleans in 2004 and now operates throughout the Southern United States—including Tennessee, Arkansas, and Alabama—serving more than 100,000 members. In June 2020, Netflix made a $10 million investment in HOPE to advance economic opportunities within Black communities.

Other work

Bynum holds board positions with organizations such as the NAACP Legal Defense Fund and the Aspen Institute. He has also provided guidance to the Department of Treasury regarding the Community Development Financial Institutions Fund and advised the Consumer Financial Protection Bureau. In 2020, he participated in the Joe Biden presidential transition team to support efforts related to transitioning leadership at the Consumer Financial Protection Bureau.

Personal life

In 1988, Bynum married Hope Simmons; they had one child together. Hope Simmons passed away in 2019.

Bynum has been honored with the University of North Carolina's Distinguished Alumnus Award in 2008 as well as the 26th Annual Heinz Award for contributions to the economy in 2021.