March 17, 2016 Stories and Data

March 17, 2016 Stories

HealthWorks
Marshall White Center
Rivertree Academy
TreisD

March 17, 2016 Fact Sheet

Native CDFIs are a critical/integral part of the financing infrastructure in Native communities and they make the most important investments and achieve the most impressive impacts in Native communities. They are directly responsible for enhancing financial literacy/capability, for creating access to capital, for increasing homeownership and building homes, and for providing technical and financial support for entrepreneurs and businesses. Even when traditional banks operate in or near Native communities, they often lack the understanding of the Native culture and complexities of providing financial services in Indian Country. Native CDFIs have emerged to help address the credit and capital challenges and provide Native communities and residents with an alternative to mainstream banks. Our Native CDFI, Four Directions Development Corporation has been a tremendous asset to the Native communities in Maine. We started out with $250,000 in capital in 2002 and over the past twenty + years, Four Directions has lent out over $25 million in capital to first-time homebuyers, new and emerging entrepreneurs and businesses, for tribal community development such as tribal wellness centers, family housing, elder housing and community facilities and infrastructure. Native CDFIs are a fundamental aspect of tribal development, a critical strategic financing partner for building a robust and sustainable economy in Indian communities nationwide.

-Susan Hammond, Four Directions Development Corporation, Orono, ME

The Community Development Financial Institutions Fund (CDFI Fund) plays a vital role in building a strong economy! CDFIs are one of the country’s most effective examples of public-private partnership. They attract private capital to help families buy homes, schools and health centers expand, small businesses grow, and communities thrive – especially in places traditional investors don’t reach on their own. CDFIs are important partners in deploying tax credit programs, such as New Markets Tax Credits, which incentivize investments while reducing taxpayer burden. Some of America’s greatest achievements – from the moon landing (and even modern space exploration) to the birth of Silicon Valley – happened because government had the vision to catalyze private innovation and investment. CDFIs operate in that same spirit.   Every day we see how smart, targeted investments unlock opportunity and drive prosperity that benefits everyone. CDFIs are effective because they fuel American ingenuity in the places it exists, which is everywhere!

-Annie Donovan, Raza Development Fund, Phoenix, AZ

CDFIs are needed throughout the country to help people make their dreams come true by becoming a homeowner.

-Colleen Steele, Mazaska Owecaso Otipi Financial Inc., Pine, SD

Map of March 17, 2016 CDFI Branches and Stories