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.
NeighborGood Partners became certified as a CDFI by the U.S. Treasury in 2004 and since then, the Loan Fund has lent a total of $180.4 million in 294 loans for affordable housing, community facilities, and neighborhood revitalization. The fund averages about 20 loans a year, with its staff of five managing over $30 million in assets, which represents a 3000% growth in assets since 2004.
CDFIs can provide financial tools tailored to the needs of their communities. As a non-profit CDFI serving low-income rural communities, this is very valuable.
As a founding board member (1982) and original board member of this community development credit union, I urge you to continue funding CDFIs that have a vital role in our community with its current housing crisis.
Community based CDFIs are vital sources of private capital to areas most in need of investment and jobs.