CDFIs are a critical link for many low-income communities and individuals for financing that is not available from conventional sources.
Thank you to our partners at Inclusive and CDBA for sharing data on CDFI Bank and CDFI Credit Union branch locations. In addition, about 100 of our CDFI Stories come from OFN’s story database.
CDFIs are a critical link for many low-income communities and individuals for financing that is not available from conventional sources.
CDFIs provide access to critical financial services and education in a way that’s accessible to and designed for low income and low wealth people and families. CDFIs help strengthen the US economy by expanding opportunities for homeownership, small business, and consumer credit., and federal grants to CDFIs are leveraged many times over by private capital. Due to the success of this work, the CDFI Fund has been sustained by broad, bipartisan support for 25 years.
CDFIs drive local economic growth by financing small businesses, creating jobs, and expanding affordable housing. They support rural and tribal communities, fund critical services like childcare and health clinics, and have invested $298 billion in underserved areas since 2010.
Thanks to the Bank Enterprise Award Fund, United is able to issue responsible credit and financial services to underserved customers… BEA is critical for offsetting the cost of running a small‑dollar loan program.