About Redbud Financial

We provide equitable

consumer financial products.

Located in Hazard, Kentucky in the coalfields of Eastern Kentucky in rural Appalachia, Redbud Financial Alternatives, Inc. provides equitable consumer financial products that help clients achieve housing and overall financial stability.

Redbud is a certified Community Development Financial Institution organized to foster, facilitate, and promote community and economic development among underserved and economically distressed communities by building the financial capability of our community members. Redbud is a 501(c)3 non-profit organization.

Our Loan Programs
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home repair loan

Meet Our Team

Scott McReynolds

Scott McReynolds

Executive Director

Scott is also the Executive Director of Redbud's "parent" organization, Housing Development Alliance, where he has led HDA in completing over 275 homeownership units and nearly 700 repairs for low-income homeowners in eastern Kentucky.
Mae Humiston

Mae Humiston

CDFI Director

Originally from rural Appalachian Virginia, Mae is committed to strengthening the region by empowering individuals and building on the unique nature and beauty of life in the mountains. Mae came to Kentucky to work with Community Farm Alliance where she gained experience in grant writing and organizational development before joining Redbud in March 2017.
chris doll

Chris Doll

Director of Lending

Chris also works with Housing Development Alliance as the Assistant Director, where he has has assisted families in securing over $36.5 million in loan and grant funding. He has functioned as a loan originator, processor, and underwriter at varying times to help these families get approved for these funds.
Neil Bedwell

Neil Bedwell

Director of Finance

Neil also works with Housing Development Alliance as the Director of Finance where he manages the finances of the organization.
Nikki Hurley

Nikki Hurley

Servicing

Nikki Hurley, has served as receptionist for the Housing Development Alliance, Inc. since 2012. Within that time she has worked closely with the Finance Department as well as Redbud Financial Alternatives, Inc. She provides administrative support and aide in payment processing. Disbursing payments, entering in new clientele, call support and other essential miscellaneous tasks such as adding late fee charges, contacting clients regarding their payment.
Hunter Brashear

Hunter Brashear

AmeriCorps Service Member

Hunter is a member of AmeriCorps. He is serving with Redbud through Homes for All - Homeless and Housing Coalition of Kentucky (HHCK). He was born and raised here in Hazard, KY and he knows how helpful and important an organization like Redbud is to rural Appalachia.
redbud financial
We envision an Eastern Kentucky where everyone has the chance to:
  • Gain financial literacy
  • Access affordable credit
  • Build financial independence
  • Live a full life despite unexpected life and financial events

We primarily serve people who live and work in Breathitt, Knott, Leslie, and Perry County. Check out our Products and Services for more information about our programs, eligibility, and restrictions.

Check out our three-year strategic plan.

2019

-Redbud reaches $300,000 in originations.
-Mining company Blackjewel abruptly closes its mines and claws back miners' paychecks. Redbud creates the Blackjewel Response Loan to help miners cover expenses while they fight for their pay.
-Glenmary Home Missioners invests $100,000 in Redbud's loan fund.
-Redbud becomes a member of the Credit Builders Alliance and is approved to begin reporting to the credit bureaus.

2018

-Redbud receives its first investment from a private individual.
-$6,000 raised in Redbud's first grassroots fundraiser - a crawfish boil!
-CDFI Fund certifies Redbud as a Community Development Financial Institution.
-Catholic Campaign for Human Development supports Redbud's continued operations.
-Redbud hosts a Homeless and Housing Coalition of America AmeriCorps service member.
-Redbud formalizes financial action planning for all clients.
-Redbud's lending portfolio reaches $100,000 with a 0% default rate.
-Redbud participates in the Perry County Community Foundation's Run For the Hills fundraising campaign, raising over $11,000 total - including $5,000 to start Redbud's permanent endowment.
-CDFI Fund awards Redbud Financial Assistance award of $125,000 in grant to the loan fund.
-Redbud's lending portfolio reaches $200,000!

2017

-Redbud hires its first full-time staff person to run the day-to-day operations of the organization.
-Redbud begins offering Credit Rescue, Payday Rescue, and HDA Home Repair loans.
-Redbud's lending portfolio reaches $50,000 and 20 clients.
-Redbud begins referral relationships with community organizations and businesses.
-Perry County Community Foundation and the Duff Family Coal Fund provide generous support for Redbud's start-up operations.

2016

-After a couple years of building a community board, researching best practices, and drafting policies and procedures, Redbud makes its first loan in fall 2016. HDA grants the start-up capital.
-Redbud receives a Technical Assistance Award from the CDFI Fund of the US Treasury that supported Redbud's operations during its start-up period.

2014

In Hazard, Kentucky the early 2010's, Housing Development Alliance, Inc. (HDA) - a Community Housing Development Organization with a mission to build safe, decent, and affordable homes in Eastern Kentucky - did an internal study on the folks coming to HDA for housing services. They noticed that almost 90% of people seeking HDA housing services did not qualify, largely because of credit-related issues like low credit scores and high debt loads.

Market research in the area showed two things: 1. there weren't many resources for people struggling to tackle their credit and debt issues and 2. a Community Development Financial Institution could be that resource.

HDA founded Redbud Financial Alternatives as a wholly controlled subsidiary in the fall of 2014 to be a bridge for people to move out of high-cost debt cycles and onto a pathway towards building personal assets.

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