The Arvest Opportunity Fund, a wholly owned, non-bank subsidiary of Arvest Bank, has established a new advisory board to support the subsidiary’s mission of providing products, services and financial education opportunities to underbanked communities.
The new board is made up of six members across the bank’s four-state footprint. Hillis Schild, Little Rock-based executive director of the Arvest Opportunity Fund, serves as board chair. Other members include:
- Mary Beth Brooks, director of the Arkansas Small Business and Technology Development Center at the University of Arkansas in Fayetteville, Ark.
- Chris Benge, vice president of operations at OSU Institute of Technology
- Kate Bulger, vice president, business development, Money Management International
- Brennan Crawford, executive director of Community Housing of Wyandotte County in Kansas
- Algerian Hart, assistant to the President for Inclusive Engagement at Missouri State University in Springfield, Mo.
The Arvest Opportunity Fund was created in 2022 and began offering loans, lines of credit and lending-related financial education to small business customers that fall just below existing bank credit requirements. The programs act as a bridge that allows customers to move from their current state to a position in which they can fully access traditional bank products and services.
“We are excited to have such an experienced group of professionals be part of our first advisory board,” said Schild. “They have a deep understanding of the challenges the underbanked population faces, and their insight and guidance will be valuable as we continue our mission of helping people reach their full potential through finance and education.”
Board members will serve three-year terms and meet regularly throughout the year.
Since its creation, the Arvest Opportunity Fund has assisted 466 small businesses with $13.7 million in loans. The organization has introduced additional products and services such as the Arvest Homebuyer Advantage program, which was announced last year in partnership with Arvest Bank to provide first-time homebuyers with downpayment assistance. In March 2024, the organization launched EmpowerED, a free bilingual mobile-first financial education platform to provide consumers with resources to make informed financial decisions.
For more information, visit arvest.com/opportunity.