Building Bridges: Percy Manson's Journey in Community Banking

Percy Manson, a Kenner native, has spent his career connecting finance and community growth. After nearly ten years 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, established in 1995, aims to provide financial access to underserved areas in the Deep South. With over 40, 000 members and $739 million in assets, it has financed more than $210 million in community development last year. In early 2025, Hope closed over 400 home loans, with 87% going to first-time buyers, and nearly 60 small business loans, with 89% directed to economically distressed areas. 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. 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. 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. Looking ahead, Manson sees growth opportunities in charter school lending and hospital lending. He also notes an increase in 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. Manson advises aspiring entrepreneurs to stay informed about the economy and understand their local market. Building a personal relationship with a banker is essential, as it can greatly benefit small business owners. He encourages entrepreneurs to choose their financial institution wisely and switch if their current one isn't meeting their needs.