CDFIs are an important part of our finance ecosystem. In 2024 alone, the Western Reserve Community Fund (WRCF) distributed over $5M in funding to over 100 small businesses/non-profits in Summit County. CDFI’s, like WRCF, make such a difference in our community.
As a CDFI, we are able to provide loans and investments to borrowers for projects that improve the quality of life in our community’s low to moderate income census tracts. Frequently, these transactions are not supported by financial institutions directly under competitive terms and conditions that we as a CDFI can make.
We strongly support continued investment in CDFIs because they empower local economies, create pathways to homeownership and entrepreneurship, and help communities thrive. By ensuring the sustainability and growth of CDFIs, we can continue our mission to help members bank with dignity and build a stronger financial future for all.