A struggling Alabama college recently secured a $15 million loan and said it plans to announce its next president soon.
Talladega College, one of the oldest historically Black colleges in Alabama, recently got a loan from Hope Federal Credit Union, based in Mississippi. The college has had financial difficulties for at least a year, but leaders say there’s a bright path forward.
“When we looked at the opportunity to invest in Talladega, it was a no brainer,” Hope Enterprise CEO Bill Bynum said of the decision to lend the school money. Bynum said Talladega is an “anchor institution that plays a significant role in advancing prosperity.”
Read more at AL.com.
