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.
Since 2008, CDFI Sustainable Neighborhoods has lent over $600 million to New York State homeowners at risk of losing their homes to foreclosure. Our lending programs have stabilized tens of thousands of households, thus preventing family displacement that leads to personal financial hardship and expenditures of substantial government funding needed to prevent or address homelessness across New York’s rural, suburban, and urban regions.
CDFIs assist businesses and individuals that often cannot access bank capital. Especially in rural SD access to capital is difficult and the # of small banks have been reduced.
I represent Northwest Access Fund, a CDFI serving Washington, Oregon, and Idaho. NWAF offers people with disabilities customized loans, financial coaching, and other resources to promote access to assistive technology, independence, financial resilience, and life opportunities. We are helping people with disabilities and seniors who lack the ability to secure financing to afford crucial assistive technologies and modifications – hearing aids, dentures, wheelchairs, adaptive vehicles, and home modifications. We could not to this vital work without the investment from the CDFI Fund.
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.