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.
I’ve been a member of a CDFI for 25 yrs and would never go back to a traditional bank, due to the good works that I’ve seen done by CDFI’s. I was also a board member for a few years at one, so I know the inner workings and understand the community missions they take on. My children and I have had a stable home for the past 18 years, partly due to the credit building assistance we received from a CDFI.
Bridge and other CDFIs support business creation and expansion as well as the construction and redevelopment of housing in low to moderate income neighborhoods. These are activities not offered or delivered by other financial institutions to extent provided by CDFI’s.
CDFIs have been essential vehicles for moving investment capital into communities that otherwise cannot access capital. We provide important technical assistance and financial support to grow businesses, finance projects, and revitalize communities thanks to investments from the CDFI Fund, which we then leverage with other private capital.
The CDFI FA/TA funding is critical to making projects happen and creating opportunities for employment. The NMTC program is critical to important real estate projects in areas like Opportunity Zones and other under invested areas.