Redbud Financial opens stand-alone office to serve Perry County

Hazard officials on Jan. 14 marked the opening of Redbud Financial Alternatives’ new stand-alone office at 825 High Street, a move intended to make community financial services more accessible across Perry County. Redbud, a certified community development financial institution, completed the building purchase in September and moved operations into the space in December before the ribbon-cutting.

The relocation ends Redbud’s shared-space arrangement inside the Housing Development Alliance office and creates a single, dedicated storefront for clients seeking small-business support, loan products, or financial counseling. Managing Director James Caudill said the change gives Redbud easier community access and a single location dedicated to serving clients.

For a rural county where physical proximity to services matters, a permanent office carries practical benefits. A dedicated location can increase walk-in traffic, simplify referrals from local social service agencies, and provide room for workshops or one-on-one counseling that are harder to host in split facilities. Those operational shifts matter because CDFIs are structured to serve low- and moderate-income communities that traditional banks may underserve, and a visible local presence can help close information and access gaps.

Economically, the opening is also a local development signal. Certified CDFIs can access federal and philanthropic capital that can be directed into small-business lending, home-repair loans, and technical assistance programs. While the immediate effects will depend on Redbud’s product rollout and capital availability, the office strengthens the infrastructure needed to deploy such funds and coordinate with housing and workforce partners in Hazard.

Community leaders framed the move as a win for economic development. A permanent office gives Redbud space to expand client-facing services and to coordinate more closely with other local organizations that are involved in housing, entrepreneurship, and workforce development—areas that drive local job creation and household stability over the long term.

Operationally, the timeline was swift: purchase completed in September 2025, move finished in December 2025, and ribbon-cutting in January 2026. That rapid transition suggests Redbud prioritized minimizing service disruption while establishing a public-facing hub.

What this means for Perry County residents is clearer access to a locally based CDFI that can steer financing and advice to households and small businesses. In the months ahead, watch for announcements about loan programs, counseling hours, and community workshops as Redbud leverages its new space to expand services and deepen its role in Hazard’s economic recovery and growth.