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A community development financial institution (US) or community development finance institution (UK) - abbreviated in both cases to CDFI - is a financial institution that provides credit and financial services to underserved markets and populations, primarily in the USA but also in the UK. A CDFI may be a community development bank, a community development credit union (CDCU), a community development loan fund (CDLF), a community development venture capital fund (CDVC), a microenterprise development loan fund, or a community development corporation. CDFIs are certified by the Community Development Financial Institutions Fund (CDFI Fund) at the U.S. Department of the Treasury, which provides funds to CDFIs through a variety of programs. The CDFI Fund and the legal concept of CDFIs were established by the ''Riegle Community Development and Regulatory Improvement Act of 1994.'' Broadly speaking, a CDFI is defined as a financial institution that: has a primary mission of community deve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Institution
Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institutions: # Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies; # Contractual institutions – insurance companies and pension funds # Investment institutions – investment banks, underwriters, and other different types of financial entities managing investments. Financial institutions can be distinguished broadly into two categories according to ownership structure: * Commercial banks * Cooperative banks Some experts see a trend toward homogenisation of financial institutions, meaning a tendency to invest in similar areas and have similar business strategies. A consequence of this might ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boston, MA
Boston (), officially the City of Boston, is the capital city, state capital and List of municipalities in Massachusetts, most populous city of the Commonwealth (U.S. state), Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th-List of United States cities by population, most populous city in the country. The city boundaries encompass an area of about and a population of 675,647 2020 U.S. Census, as of 2020. It is the seat of Suffolk County, Massachusetts, Suffolk County (although the county government was disbanded on July 1, 1999). The city is the economic and cultural anchor of a substantially larger metropolitan area known as Greater Boston, a metropolitan statistical area (MSA) home to a census-estimated 4.8 million people in 2016 and ranking as the tenth-largest MSA in the country. A broader combined statistical area (CSA), generally corresponding to the commuting area and includ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Southern Bancorp
Southern Bancorp is a community development financial institution headquartered in Arkadelphia, Arkansas. It was founded in 1986 as Southern Development Bancorporation, and is often referred to simply as "Southern". With 43 locations, the organization focuses most of their work in the Arkansas Delta and Mississippi Delta. Southern's community-development work in these areas has directly improved various aspects of resident's lives through different projects such as the Delta Bridge Project,Official websiteDelta Bridge Project/ref> The Arkadelphia Promise,Official websiteArkadelphia Promise/ref> and numerous other sponsorships and projects. Origin In 1986, then Arkansas Governor Bill Clinton William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ... partnered with the Winthrop Rockefell ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Initiatives Support Corporation
The Local Initiatives Support Corporation (LISC) is a US non-profit community development financial institution (CDFI) that supports community development initiatives across the country. It has offices in nearly 40 cities and works across 2,100 rural counties in 44 states. LISC was created in 1979 by executives from the Ford Foundation. LISC's affiliates include the National Equity Fund (NEF), the largest national syndicator of Low Income Housing Tax Credits (LIHTC), the New Markets Support Company, a national syndicator of New Markets Tax Credits, and immito, which specializes in SBA 7a lending. LISC and its affiliates support community development projects through grants, loans and equity investments as well as technical and management assistance. In the 2020 fiscal year, it reported grants, loans and investments totaling US$2 billion, leveraging $4.4 billion in total development and supporting over 700 partners across America. Since 1979, LISC has invested $24 billion into co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enterprise Community Partners
Enterprise Community Partners, formerly The Enterprise Foundation, is a national nonprofit organized around three central goals: to increase housing supply, advance racial equity and build resilience and upward mobility. Founded in 1982 by developer/philanthropist James W. Rouse and his wife Patty, Enterprise has worked with community-based nonprofit organizations to develop 781,000 homes, investing $44 billion throughout the United States. The organization works in more than 800 communities and in collaboration with thousands of partners in the nonprofit, public and for-profit sectors. Affordable housing advocate and attorney Priscilla Almodovar has served as president and CEO of Enterprise since 2019. History In 1972, three members of the Church of the Saviour—Terry Flood, Barbara Moore and Carolyn Banker—wanted to create low-income housing in the Adams Morgan neighborhood of D.C. With no development, financial or construction experience, they put down a non-refundable de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Community Loan Fund
Chicago Community Loan Fund (CCLF) is a certified community development financial institution (CDFI) that provides loans and grants to community development organizations engaged in affordable housing, social service and economic development initiatives in Chicago. Mission & Focus CCLF's mission, as stated on its website, is "to provide low cost, flexible financing to community development organizations... throughout metropolitan Chicago." Its focus is on providing loans to agencies engaged in planning and building affordable housing. It also lends money to other types of community development organizations and organizations that support environmental sustainability, such as Chicago's nonprofit car-sharing program, I-GO, Logan Square Kitchen, a commercial shared-use kitchen and 75-seat event space, and Whistler-Crossing in Riverdale, IL, the first LEED for Neighborhood Development (LEED-ND) in Illinois. The loan fund is distinguished from traditional banks by its track record ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Impact Partners
Capital Impact Partners, or simply Capital Impact, is a congressionally chartered, District of Columbia nonprofit and certified community development financial institution that provides credit and financial services to underserved markets and populations in the United States. S&P Global issued Capital Impact its first rating in 2017. Capital Impact was created in 1982 as the nonprofit arm of the National Cooperative Bank as part of the National Consumer Cooperative Bank Act. Capital Impact became independently certified as its own financial institution by the U.S. Department of the Treasury's Community Development Financial Institutions Fund in 2011. The company's president and CEO is Ellis Carr, the chief lending officer is Diane Borradaile, the chief financial officer is Natalie Gunn, and Amy Sue Leavens is the chief legal counsel. From 1994 until 2016, Terry Simonette served as president and CEO of Capital Impact until Ellis Carr was named as his replacement. The company is am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
AARP
AARP (formerly called the American Association of Retired Persons) is an interest group in the United States focusing on issues affecting those over the age of fifty. The organization said it had more than 38 million members in 2018. The magazine and bulletin it sends to its members are the two largest-circulation publications in the United States. AARP was founded in 1958 by Ethel Percy Andrus, a retired educator from California, and Leonard Davis, who later founded the Colonial Penn Group of insurance companies. It is an influential lobbying group in the United States. AARP sells paid memberships, and markets insurance and other services to its members. History According to the group's official history, AARP evolved from the National Retired Teachers Association (NRTA), which Dr. Ethel Percy Andrus had established in 1947 to promote her philosophy of productive aging, and to promote health insurance for retired teachers. In seeking group insurance coverage for retired teach ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NAACP
The National Association for the Advancement of Colored People (NAACP) is a civil rights organization in the United States, formed in 1909 as an interracial endeavor to advance justice for African Americans by a group including W. E. B. Du Bois, Mary White Ovington, Moorfield Storey and Ida B. Wells. Leaders of the organization included Thurgood Marshall and Roy Wilkins. Its mission in the 21st century is "to ensure the political, educational, social, and economic equality of rights of all persons and to eliminate race-based discrimination". National NAACP initiatives include political lobbying, publicity efforts and litigation strategies developed by its legal team. The group enlarged its mission in the late 20th century by considering issues such as police misconduct, the status of black foreign refugees and questions of economic development. Its name, retained in accordance with tradition, uses the once common term ''colored people,'' referring to those with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Predatory Lending
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as "imposing unfair and abusive loan terms on borrowers", though "unfair" and "abusive" were not specifically defined. Though there are laws against some of the specific practices commonly identified as predatory, various federal agencies use the phrase as a catch-all term for many specific illegal activities in the loan industry. Predatory lending should not be confused with predatory mortgage servicing which is mortgage practices described by critics as unfair, deceptive, or fraudulent practices during the loan or mortgage servicing process, post loan origination. One less contentious definition of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secondary Market
The secondary market, also called the aftermarket and follow on public offering, is the financial market in which previously issued financial instruments such as stock, bonds, options, and futures are bought and sold. The initial sale of the security by the issuer to a purchaser, who pays proceeds to the issuer, is the primary market. All sales after the initial sale of the security are sales in the secondary market. Whereas the term primary market refers to the market for new issues of securities, and " market is primary if the proceeds of sales go to the issuer of the securities sold," the secondary market in contrast is the market created by the later trading of such securities. With primary issuances of securities or financial instruments (the primary market), often an underwriter purchases these securities directly from issuers, such as corporations issuing shares in an IPO or private placement. Then the underwriter re-sells the securities to other buyers, in what is r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Durham, North Carolina
Durham ( ) is a city in the U.S. state of North Carolina and the county seat of Durham County, North Carolina, Durham County. Small portions of the city limits extend into Orange County, North Carolina, Orange County and Wake County, North Carolina, Wake County. With a population of 283,506 in the 2020 United States Census, 2020 Census, Durham is the List of municipalities in North Carolina, 4th-most populous city in North Carolina, and the List of United States cities by population, 74th-most populous city in the United States. The city is located in the east-central part of the Piedmont (United States), Piedmont region along the Eno River. Durham is the core of the four-county Research Triangle#Office of Management and Budget Definition, Durham-Chapel Hill Metropolitan Area, which has a population of 649,903 as of 2020 U.S. Census. The Office of Management and Budget also includes Durham as a part of the Raleigh, North Carolina, Raleigh-Durham-Cary Combined Statistical Area, com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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