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.
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 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.
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 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.
CDFIs provide an important unique opportunity support communities by creating opportunities for underbanked companies and individuals to pull themselves up by their bootstrap by creating new businesses, housing and strengthening financial composites