CDFIs create impactful changes in communities and provide catalytic growth and changes which provide jobs, particularly in low and moderate in come areas.
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 create impactful changes in communities and provide catalytic growth and changes which provide jobs, particularly in low and moderate in come areas.
CDFIs are a vital source of capital for the small and micro businesses in our communities, businesses that typically aren’t at the scale to be served by the large banks. They create jobs, generate taxes and keep our communities and economy vibrant and strong.
Supporting Community Development Financial Institutions (CDFIs) is crucial for economic growth and access to capital in underserved areas. CDFIs provide essential financial services, stimulating local economies by offering affordable loans to small businesses and nonprofits. Increased funding for CDFIs ensures expanded outreach and impact, promoting economic stability and development. Enhanced budgetary support for CDFIs is a strategic investment that benefits the nation’s economic infrastructure.
CDFIs fill a critical void in funding the development of affordable housing. They provide below market interest rates, have flexible terms, and can respond to critical funding needs with more flexibility than a traditional bank/credit union.