In Syracuse’s depressed economy, CDFIs have been a lifeline for aiding some of the most financially challenged residents and businesses. My credit union has leveraged CDFI funds to lift many households out of poverty, and we need this to continue.
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.
In Syracuse’s depressed economy, CDFIs have been a lifeline for aiding some of the most financially challenged residents and businesses. My credit union has leveraged CDFI funds to lift many households out of poverty, and we need this to continue.
CDFIs make banking accessible for entrepreneurs and small businesses that often lack the institutional knowledge and networks to feel confident in the lending space. CDFIs are a critical tool that helps diversify our economy.
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.
Our CDFI is housed in a non-profit dedicated to cultivating entrepreneurial leadership within underserved communities to increase their economic mobility. CDFIs are crucial to this work and bridging the gap to help entrepreneurs access funding before being able to approach a traditional lender for a myriad of reasons such as lack of credit history, being underbanked or never banking, lacking access to financial literacy resources and education around borrowing process. Being able to combine training resources with microlending support enables our org to further serve these populations in a way that best meets their needs and creates economic growth and jobs within our local communities.