Since its inception, the CDFI Fund has been a staunch supporter of CDFIs like MEDA whose mission is focused on rebuilding and stabilizing some of the most impoverished and underserved communities across the country.
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 its inception, the CDFI Fund has been a staunch supporter of CDFIs like MEDA whose mission is focused on rebuilding and stabilizing some of the most impoverished and underserved communities across the country.
As a CDFI, we support areas that have had historical underinvestment and see a transformative impact to those communities over time. The CDFI fund has an excellent private investment track record that accompanies the Treasury investment, leveraging the funds at an $8 or more for every $1 from the CDFI fund. This helps incentivize investment in these communities, bringing greater prosperity to all and putting all Americans to work that can access these programs.
CDFIs drive economic mobility in a way that positively transforms communities in many ways. It’s relevant for folks with a business/economy-first mentality to know: CDFIs create small businesses, develop financially stable households, and increase low-come families’ spending power. These are metrics that are meaningful to people of all political views. Investing in the CDFI Fund pays dividends to the broader economy. This is not a politically divisive line item in the budget. Fund the CDFI Fund!
CDFIs are a great, cost-effective way to support development in rural, suburban and urban communities in a public/private finance model heavily weighted to the private side. In our case in enabled locating our manufacturing plant in an area where people needed jobs.