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CDFI
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 credit union, 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 co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Development Entities
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 credit union, 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 co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Markets Tax Credit Program
The New Markets Tax Credit (NMTC) Program is a federal financial program in the United States. It aims to stimulate business and real estate investment in low-income communities in the United States via a federal tax credit. The program is administered by the US Treasury Department's Community Development Financial Institutions Fund (CDFI Fund) and allocated by local Community Development Entities (CDEs) across the United States.''US Department of Treasury: Community Development Financial Institutions Fund.'' History The New Markets Tax Credit Program was established as part of the[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Development Financial Institutions Fund
The Community Development Financial Institutions Fund (CDFI Fund) promotes economic revitalization in distressed communities throughout the United States by providing financial assistance and information to community development financial institutions (CDFI). An agency of the United States Department of the Treasury, it was established through the Riegle Community Development and Regulatory Improvement Act of 1994. Financial institutions, which may include banks, credit unions, loan funds, and community development venture capital funds, can apply to the CDFI Fund for formal certification as a CDFI. As of September 1, 2005, there were 747 certified CDFIs in the U.S. The CDFI Fund offers a variety of financial programs to provide capital to CDFIs, such as the Financial Assistance Program, Technical Assistance Program, Bank Enterprise Award Program, and the New Markets Tax Credit Program. One of the oldest nonprofit loan funds in the United States, Enterprise Community Loan Fund - a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Development Bank
Community development bank (CDB) or Community Development Financial Institution (CDFI) is a development bank or credit union that focus on serving people who have been locked out of the traditional financial systems such as the unbanked or underbanked in deprived local communities. They emphasize the long term development of communities and provide loans such as micro-finance or venture capital. In the United States these became popular after 1994 when the US Congress created community development banks and allowed them to get funding at very low rates from the US treasury. In the United States In the United States, community development banks are commercial banks that operate with a mission to generate economic development in low- to moderate-income (LMI) geographical areas and serve residents of these communities. In the United States, community development banks are certified as such by the Community Development Financial Institutions Fund, a department within the U.S. De ... [...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] |
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] |
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] |
Urban Partnership Bank
Urban Partnership Bank was a U.S. Federal Deposit Insurance Corporation-insured, full-service community development bank in the United States with $1.4 billion in assets. It was established August 20, 2010 when it acquired the deposits and some of the assets of ShoreBank from the FDIC. It was headquartered in Chicago, Illinois. After chronic losses, it was acquired by on Jan 30, 2019 by Providence Bank & Trust (Illinois), Providence Bank & Trust. The bank's stated mission was to build vibrant urban neighborhoods, promote economic and environmental sustainability in distressed and underserved areas of Chicago, Cleveland, and Detroit. Its customers ranged from individuals to small businesses, nonprofits, foundations, and Faith-based organization, faith-based organizations. The bank placed a special emphasis on serving Underbanked populations. Origin Urban Partnership Bank was founded in 2011 by the former management of the failed, but politically connected, ShoreBank ShoreBan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ShoreBank
ShoreBank was a community development bank founded and headquartered in Chicago. At the time of its closing it was the oldest and largest such institution, and in 2008 had $2.6 billion in assets. It was owned by ShoreBank Corporation, a regulated bank holding company. ShoreBank had branches in Chicago's South Side (Chicago), South and West sides, Cleveland, and Detroit. Between 2000 and 2006, ShoreBank issued nearly $900 million in loans to citizens in Chicago, Detroit, and Cleveland. ShoreBank and its affiliated companies have projects in 30 countries. ShoreBank incorporated environmental conservation into its mission during the 1990s, helping develop a triple bottom line approach to banking, equally prioritizing profits, impact on people, and the impact of a project on the environment. At that time it established ShoreBank Pacific based in Portland, Oregon. ShoreBank accepted mission-based deposits from across the country through its Development Deposits program, launched in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OneUnited Bank
OneUnited Bank is an African-American-owned and managed Massachusetts-chartered trust company headquartered in Boston, Massachusetts. It is also registered by the Federal Deposit Insurance Corporation (FDIC), and certified as a community development financial institution (CDFI) by the United States Department of Treasury. As of April 30, 2018, OneUnited Bank maintained $661.2 million in total assets. History Beginnings The bank was founded in 1968 as Unity Bank & Trust Company with $1.2 million in capital in the then-Dudley Square (now Nubian Square) neighborhood of Boston, aiming to revitalize the area by lending exclusively to local businesses and homeowners. Unity Bank failed after nine years of operations, and a newly organized bank, Bank of Boston Commerce, was formed. Boston Bank of Commerce expanded the model of community development to include partnerships with large corporations and government agencies. Its chairmen included United States Senator Edward Brooke. With tot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Center For Community Self-Help
Self-Help is a national community development financial institution headquartered in Durham, North Carolina. Between the years of 1980-2017, Self-Help reportedly provided over $7 billion in financing to 146,000 families, individuals and businesses. It aims to drive economic development and strengthen communities by providing financial services, lending to individuals, small businesses and nonprofits. It also aims to develop real estate and promote fair financial practices across the nation. Through its credit union network, Self-Help serves 150,000 members in North Carolina, California, Illinois, South Carolina, Virginia, Wisconsin and Florida. In recent years, Self-Help's credit union network has expanded. In North Carolina, Self-Help Credit Union has merged with more than 10 community-focused credit unions—locally rooted institutions that sought to stabilize their operations and increase output. More recently, Self-Help has had mergers with community credit unions in Florida ... [...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] |
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