Building Bridges: Percy Manson's Journey in Community Banking

Percy Manson, a Kenner native, has dedicated his career to connecting finance and community growth. After nearly a decade as a commercial banker, he joined Hope Credit Union as a senior vice president. His role focuses on expanding opportunities in overlooked neighborhoods.

Hope Credit Union: A Beacon of Financial Access

Established in 1995, Hope Credit Union aims to provide financial access to underserved areas in the Deep South. With:

Over 40,000 members
$739 million in assets
$210 million in community development financing last year

In early 2025, Hope closed:

Over 400 home loans, with 87% going to first-time buyers
Nearly 60 small business loans, with 89% directed to economically distressed areas

Community Leadership and Advocacy

Manson also serves as a commissioner on the Housing Authority of New Orleans board. He has been involved in local elections, recently working for the campaigns of the incoming mayor and sheriff. As a new administration takes office, Manson urges the mayor-elect to focus on economic development in New Orleans East and the Lower 9th Ward.

The Role of Community Development Financial Institutions

In a recent discussion, Manson highlighted the unique role of community development financial institutions like Hope. These institutions combine flexible lending with educational programs to support underserved communities.

Hope Credit Union serves communities often ignored by other financial institutions. For example, they actively support areas like Selma, Alabama, which has been neglected post-Hurricane Katrina. Unlike many institutions that shy away from small businesses, Hope embraces them. Credit unions have more flexibility in financing, making them a valuable resource for those who might not qualify for traditional bank loans.

Supporting Small Businesses

Small business owners often face significant hurdles when seeking capital. Manson emphasizes the importance of education and preparation. Hope offers programs like lunch and learns, where they educate potential borrowers on what they need to qualify for a loan. They also partner with technical assistance providers to help clients get their finances in order.

One of the most effective tools Hope uses is its network of technical assistance providers. These providers help clients prepare their financial documents, such as profit and loss statements and balance sheets. Education is another key component, as many people focus solely on business credit while overlooking personal credit, which is also crucial in loan evaluations.

Future Opportunities and Challenges

Looking ahead, Manson sees growth opportunities in:

Charter school lending
Hospital lending
Real estate investment opportunities

However, the current economic climate poses challenges. Small businesses are struggling due to reduced consumer spending and uncertainty. Hope is working to modify loans and support clients through these tough times.

Advice for Aspiring Entrepreneurs

Manson advises aspiring entrepreneurs to:

Stay informed about the economy
Understand their local market
Build a personal relationship with a banker
Choose their financial institution wisely

He encourages entrepreneurs to switch financial institutions if their current one isn't meeting their needs.