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 financing that banks won’t do. We have used CDFI funds for mobile home financing on older mobile homes. The portfolio has a 100% success rate with the funds coming back, revolving and helping another family with affordable housing option.
Funding through the CDFI fund is essential to our home ownership, home ownership preservation and multifamily housing development programs. CDFI funding provides flexible, low-cost funds that fill the financing gaps in projects that provide affordable, safe, and healthy housing to our clients.
CDFIs are an important part of our finance ecosystem. In 2024 alone, the Western Reserve Community Fund (WRCF) distributed over $5M in funding to over 100 small businesses/non-profits in Summit County. CDFI’s, like WRCF, make such a difference in our community.
The purpose of CDFI funds are critical to the communities to be able to support people and programs such as affordable housing and financial literacy to improve the wellbeing of the community.