CDFIs and Credit Unions help people of modest means when other FI’s do not. We are the last bastion of hope in banking for the little guy.
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.
CDFIs and Credit Unions help people of modest means when other FI’s do not. We are the last bastion of hope in banking for the little guy.
As a founding board member (1982) and original board member of this community development credit union, I urge you to continue funding CDFIs that have a vital role in our community with its current housing crisis.
CDFIs provide financial services, education and loans to support economic growth and development for families and small businesses. Many qualify, but are unable to secure needed funding through mainstream, traditional financial sources. The work of CDFIs enriches our communities and the quality of life for residents.
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.