December 2012 Invest FROM PAGE 1


my earnings, why not take some of it and invest in myself?”


Investing in his own talent has


proven to be a great choice for Parrish. Not only because of his entrepre- neurial accomplishments, but also because of the difference his company has made in the communities it has served. “I am able to see communities resurrected and given new life due to upgrades in infrastructure, such as transportation, medical campuses, retail and cultural activity centers, that have given its residents pride and created a means of sustaining life-long natives born and raised in those very same communities,” Parrish states, when asked about the most rewarding part of his business.


Parrish attributes some of his


business acumen to early experiences growing up in Jamaica, Queens, a working class section of New York City. “My parents provided a stable home and foundation. My father, a bank executive for Chemical Bank and Manufacturers Hanover, also served on the firms’ sponsorship teams for such programs as 'Each One Teach One' and my mother, who was a credit manager for the black-owned oil company, Ebony Oil, was active with the Urban League. I was shown a consistent model for morals and ethics (in the home), which instilled the notion that I could legitimately do anything in this world, if I chose to pursue it,” says Parrish. “I also had some conflict and challenges outside of my home that have become assets in my current business role; as the environment required you to think fast on your feet, and solve conflicts on a daily basis.”


As a child, Parrish’s ambitions


were to become either an automotive designer or an architect. “I would spend much of my time at a family home in Harlem, New York where I gained a great appreciation for architecture and urban planning,” Parrish shares. However, when his parents made a sudden move to Long Island, Parrish gained a new appreciation for land development and real estate investing.


It was in New York that Parrish


was first exposed to entrepreneurial- ism. “In the 80's, there were HUD [Department of Housing and Urban Development] renewal programs in the Greater New York area for investors, that would mutually benefit the community and financially reward the investor for refurbishing what was known back then as ‘Handy-man specials,’” Parrish explains. “I began investing in real estate in my early twenties with two other friends.” Parrish went on to start a facilities management firm in 1991, which he sold in 1996.


These days, Parrish views every


hurdle put in front of his business as a challenge, and acknowledges that there have been a few. “Obviously, we don’t live in a perfect society, so some of us who have ethnic, minority or foreign backgrounds are typically put in a position to either accept or refuse the crumbs, or pittance of major projects within my industry,” admits Parrish. “This factor has made me


www.hamptonroadsmessenger.com


more determined than ever to eradicate barriers for those who desire to be entrepreneurs.”


Parrish and his team are working


on several projects at the moment, including a 300-acre land development project in the Caribbean that will have a total building area of over 1.5 million square feet, two hotels and a restaurant in Caroline County, Virginia, a flood mitigation design-work for FEMA (Federal Emergency Management Agency), as well as the planning and design of residential communities, and houses of worship in Virginia.


The end of the season marks


another successful calendar year for Parrish-Point, LLC. The New Year will bring new ventures for the Parrish-Point team, but first they will take some time to regroup and refocus. “After our year-end recap, we take a business retreat where we look at all of our projects and endeavors completed in 2012, and we will focus on becoming leaner and more efficient,” shares Parrish. “We will focus on improving management and organizational methods for executing and planning our work, thus adding more value to our service while saving money for our clientele.”


One of the ventures that


Parrish-Point, LLC will undertake next year involves something very dear to Jeffrey Parrish’s heart: education. In addition to writing and teaching courses for two Hampton Roads colleges, Parrish sits on advisory boards for three colleges throughout the country. It is only fitting for Parrish to officially bring education under his company’s extensive umbrella.


“When I created my business


plan, it included a not-for-profit component,” says Parrish. “I am a product of a family that realized much of our success is based on our ability to intellectually allow for it.” Starting June 2013, Parrish-Point, LLC will open enrollment for a new technical training program. The program is designed to provide this training to a segment of society that may have had challenges in the past. “We will be advertising for the enrollment of our first session in the Hampton Roads Messenger in the early spring of 2013,” Parrish adds. “So stay tuned for that.”


Just over three years ago, Jeffrey


L. Parrish took a chance; he invested in himself, and in turn, invested in the Hampton Roads community and enriched our economy. In those years, he has built a company and a legacy that promises to withstand the tests of time. On October 31, 2012, Parrish and his company were honored as 2012 Hampton Roads Messenger Community Development Award winners at the Small Businesses Thinking Big Conference and Community Development Awards Luncheon.


“It should be part of every


business model to give back, as it propels you into a greater opportunity to impact your environment,” states Parrish. “It creates a foundation for you and your employees to grow as professionals and leaders, because what you are doing is empowering and expanding the lives of others.”


EFFORTS TO INTENTIONALLY SABOTAGE THE PRINTING, DISTRIBUTION OR REPUTATION OF THIS PUBLICATION IS A VIOLATION OF THE US CONSTITUTION’S PROTECTION OF FREEDOM OF THE PRESS AND MAY CONSTITUTE A VIOLATION OF ANTITRUST LAWS. IF YOU KNOW OF ANYONE PARTICIPATING IN SUCH ACTIONS, PLEASE REPORT IT TO THE US JUSTICE DEPARTMENT.


L-R: Lyndon Remias, Auditor - City of Virginia Beach; Mary Ranta, Executive Assistant - SunTrust Bank Commercial Division; Andy Hindlin, Owner -Hindlin Broadcasting LLC (Selecta 1050); Don Roberts, WAVY 10; Sylvia Weinstein, Editor - Oyster Pointer; Angela Jones, Publisher - Hampton Roads Messenger; Mark Johnson, Community Development Manager/Co-Chair - SunTrust Bank Regional Diversity Council; Aubrey Wilson, Founder - Gladys Gatlin Foundations, Inc. Photo by David Hyman


(Norfolk, Virginia) – The Regional


Diversity Council of SunTrust Bank, Hampton Roads hosted the second annual “SunTrust Celebration of Diversity and Inclusion in the Greater Hampton Roads Community” on Thursday, November 29, 2012. The event was held at the d’Art Center at the Selden Arcade in Norfolk.


Leroy Abrahams, President and


CEO of SunTrust Hampton Roads said “SunTrust is proud of our efforts to promote Diversity and Inclusion within our organization. Our diversity efforts have been recognized by Fortune Magazine, the Urban Financial Services Coalition, the Human Rights Campaign and Diversity Inc Magazine. We’ve won the New Freedom Initiative Award from the U.S. Department of Labor for exemplary practices to support people with disabilities. Diversity is more than a slogan at SunTrust, it is integral to our way of doing business.”


Mr. Abrahams went on to say “The


SunTrust Celebration of Diversity and Inclusion in the Greater Hampton Roads Community gives us an opportunity to recognize and congratulate individuals and organizations in our community who are committed to those same ideals of Diversity and Inclusion and


Adding Others FROM PAGE 1


Becker explained, "the FDIC would have to look to state law to determine the ownership interest of each person and would provide deposit insurance coverage accordingly."


Becker noted that there is another,


better way to give someone limited access to a deposit account on an as-needed basis without granting ownership rights. That is to obtain a power of attorney — the written authorization for one or more people to represent or act on another’s behalf in financial affairs or other personal matters. Powers of attorney can be broad, allowing unlimited access, or narrow, limiting access to accounts.


Allowing others to access your safe


deposit box. The rules and procedures for safe deposit boxes can vary by state and by bank, so ask your bank about the options for granting someone access and what you would have to do if you later change your mind. "Remember that this person could go to the box


are creating a better place to live and work. As evident by the number of attendees at this year’s celebration, this event is continuing to grow into a signature recognition event and allows us to put the spotlight on even more efforts to celebrate.”


Awards were presented in five


broad categories. Awards were given in African American, Women’s Initiatives, Hispanic, Asian American and Military/Veterans categories. Recipients were: The Hampton Roads Messenger; Sylvia Weinstein, Editor – Oyster Pointer; Selecta 1050 AM; Lyndon Remias, Auditor, City of Virginia Beach, and the Gladys Gatlin Foundations, Inc.


SunTrust Teammate, Mary Ranta,


an Executive Assistant in SunTrust Commercial Banking was also honored for her efforts in partnering with Girls with Goals Alliance to deliver “Sole Connections – a global and community initiative that collected new and gently used shoes and donates them to under-served communities in West Africa, Ghana, Mexico and the Philippines.


Don Roberts from WAVY- TV 10


was the Master of Ceremonies for the second consecutive year.


and take anything out, without your approval," explained Edward Nygard, an FDIC Senior Consumer Affairs Specialist.


Adding co-owners vs. "authorized


users" to a credit card account. A co-owner is financially responsible for all debt incurred, including any charges by an authorized user. Depending on the cardholder agreement, authorized users may or may not be financially responsible for any debt on the card. A card owner also may be able to place restrictions on authorized users, such as limits on amounts that can be charged.


Think carefully before you


co-sign a loan. "If the other co-signer does not pay the debt, you will have to," Creamean said. "You may also have to pay late fees and collection costs, which increase the debt amount. Additionally, your credit rating could be affected if this person fails to pay or pays late."


Want more guidance about


adding names to accounts? Consider consulting an attorney, your banker or another advisor.


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Local Trailblazers Receive Awards for Diversity and Inclusion


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