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.
The CDFI Fund generates economic opportunity in distressed rural and urban areas by leveraging private investment and expanding access to credit, capital, and financial services through the investment in and assistance to a nationwide network of Community Development Financial Institutions (CDFIs).
It has been proven over the decades that the CDFI industry has been mega critical to the flow of capital in this country, specifically in disinvested communities. By appropriating at least $354M for the CDFI Fund, this directly supports the deployment and capacity building of not only CDFIs but the millions of small businesses that hire and create jobs, erect infrastructure, rebuild neighborhood corridors, and partner across industries for improved quality of life. If we are serious about reducing the wealth gap for increased positive impacts, supporting CDFIs is extremely important.
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 are a key component of helping our communities thrive.