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 have watched how CDFIs support small business owners and home owners where banks and credit unions could not. The amount banks charge is often above what people can pay, CDFIs that are nonprofits even the playing field for them by investing in the people and not company profits.
CDFIs fill a vital need in Michigan by supporting community and economic development in under-served areas. Continuing to fund CDFIs will allow them to provide financial support for communities that would otherwise be left behind.
[The CDFI Fund] provides a vital funding source which enables our organization to sustain and start-up businesses in our rural SD communities. Without that support, our rural communities would die because there would be nothing to keep our young families in the communities. The opportunities they need for their careers would be gone.
CDFIs fill an important financing gap to help meet the needs of Americans including housing development, community improvements, nonprofit and health infrastructure, and small business. The CDFI Fund is a critical investment in America’s future.