Redbud Financial Alternatives and HDA, Inc. to Operate Independently Beginning July 1
HAZARD, Ky. (July 1, 2026) – Redbud Financial Alternatives, Inc. (Redbud) and Housing Development Alliance, Inc. (HDA) announced today that, effective July 1, 2026, Redbud will begin operating as an independent 501(c)(3) nonprofit organization.
For years, Redbud has worked alongside HDA to expand opportunity for families in Eastern Kentucky. Originally launched under HDA as part of its broader community development work, Redbud has grown into a certified Community Development Financial Institution (CDFI) serving people across the region with fair consumer loans, debt consolidation, and one-on-one financial counseling.
Together, the two organizations have helped hundreds of East Kentuckians build credit, reduce debt, and move toward greater financial stability – often taking important steps toward long-term homeownership.
Leaders from both organizations said the transition reflects Redbud’s growth and will allow each organization to deepen its impact.
As an independent nonprofit, Redbud will have greater flexibility to expand its fair-lending and credit-building services across Breathitt, Knott, Leslie, Perry, and surrounding counties. At the same time, HDA will continue focusing on its core mission as an affordable housing developer – building new homes, managing rental properties, and completing critical home repairs, especially as long-term flood recovery continues across the region.
“Our deep-rooted relationship with HDA has been fundamental to Redbud’s success,” said James Caudill, Executive Director of Redbud Financial Alternatives. “Together, we have helped clients avoid hundreds of thousands of dollars in predatory fees and high-interest debt. As Redbud begins this next chapter as a fully independent CDFI, we are excited to grow our lending and financial education services and help even more working families across Central Appalachia build lasting financial independence.”
HDA leaders said the transition is a natural next step and a sign of Redbud’s strength.
Both organizations emphasized that the change will not interrupt services.
Existing Redbud loan terms, servicing agreements, and counseling appointments will remain unchanged. Clients, partners, and investors can expect business to continue as usual. Because Redbud and HDA remain closely connected by geography and mission, the two organizations will continue to maintain a strong referral relationship to help families move from financial stabilization toward homeownership.
Redbud’s office is located at 825 High Street in Hazard and can be reached at 606-716-6100. For more information about the transition or about services offered by each organization, visit redbudloan.org and hdahome.org
About Redbud Financial Alternatives, Inc.
Redbud Financial Alternatives, Inc. is a 501(c)(3) nonprofit and certified Community Development Financial Institution (CDFI) based in Hazard, Kentucky. Redbud is dedicated to fostering economic development in underserved and economically distressed communities across Eastern Kentucky by providing fair personal, auto, and debt-consolidation loans paired with comprehensive financial counseling.
