Community Development Financial Institutions (CDFIs)
Overview \
Support Organizations \ Models
& Best Practices
Research Resources \ Articles-Publications
ARTICLES-PUBLICATIONS
ARTICLES
Lynn Adler and Jim Mayer, “Interview: Martin Eakes,”
Faith, Hope and Capital. Produced by Tenth Street Media, Ideas in
Action, and Oregon Public Broadcasting. 2000.
http://www.pbs.org/capital/stories/martin-eakes-print.html
Lynn Adler and Jim Mayer. “Interview of Sister Mary Lucie
and Doris Gromley,” Faith Hope and Capital, San Francisco
and Portland: Tenth Street Media, Ideas in Motion and Oregon Public
Broadcasting, 2000.
http://www.pbs.org/capital/stories/sisters-print.html
Lynn Adler and Jim Mayer, “Interview: Richard Taub,”
Faith, Hope and Capital. Produced by Tenth Street Media, Ideas in
Action, and Oregon Public Broadcasting. 2000.
http://www.pbs.org/capital/stories/richard-taub-print.html
CDFI Coalition, “What are CDFIs?” Arlington, VA: CDFI Coalition,
no date.
http://www.cdfi.org/cdfi-info-1a.asp
*NEW*
Pedro Arce, “We Just Knock on Doors,” Communities & Banking, Boston, MA: Federal Reserve Bank of Boston, summer 2008, pp. 28-30.
article-arce.pdf (140KB)
Carole Carlson and Prabal Chakrabarti, “Venture Capital in New England
Secondary Cities,” New England Community Developments, Federal Reserve
Bank of Boston, issue 1, 2007.
article-carlson-chakrabarti.pdf
(264KB)
Brandy Curtis, “An Overview of the CDFI Industry,” New England
Community Developments, Boston, MA: Federal Reserve Bank of Boston, 2006, issue
2.
article-curtis.pdf
(226KB)
Chrissa Shoemaker Debree, “Creating Real Opportunity,” Bucks County
Courrier Times, March 4, 2007.
article-debree.pdf
(72KB)
Dona DeZube, “The Tragedy of Foreclosure: Community-Based Nonprofits Respond,”
NeighborWorks Bright Ideas, Washington, DC: NeighborWorks America, summer 2006,
pp. 6-14.
article-dezube.pdf (1.2MB)
Elaine L. Edgcomb, Written Statement to the House Committee on Small Business:
Hearing on SBA Microloan Program, Washington, DC: The Aspen Institute, June
14, 2007.
article-edgcomb.pdf
(120KB)
Katy Jacob and Malcolm Bush, “CRA and CDFIs Revisited: The Importance
of Bank Investments for the Community Development Financial Institutions Industry
and Implications for CRA Regulatory Review,” Reinvestment Alert, no. 20,
April 2003.
article-jacob.pdf
(42KB)
Michou Kokodoko, “Microenterprise development in the U.S.: Past, present,
and future— A conversation with Elaine Edgcomb, Director, Aspen Institute
Microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination,”
Community Dividend, Federal Reserve Bank of Minneapolis, issue 2, 2007.
article-kokodoko.pdf
(288KB)
Chuck Matthei: “The Value of Land in Economics,” “Faith
and Finance,” and “The Spirit of Work,” Sojourners. November
1993, December 1993, and March 1994
article-matthei.pdf
(313KB)
Ronald L. Phillips, “New Approaches in Social Investing,” Communities
& Banking, winter 2006, pp. 3-6.
article-phillips.pdf
(144KB)
Lisa Servon and Timothy Bates, “Microenterprise as an Exit Route from
Poverty,” Journal of Urban Affairs, Vol. 28, no. 4, pp. 419-441.
*NEW*
Bárbara J. Robles, “Latina Microenterprise and the U.S.- Mexico Border Economy,” The Estey Centre Journal of International Law and Trade Policy, vol. 3, no. 2, 2002, pp. 307-327.
article-robles.pdf (580KB)
Peter Skillern and Tanya Wolfram, “Transforming Trailers into Assets,”
Popular Government, winter 2005, pp. 4-11.
article-skillern.pdf
(632KB)
Gregory M. Stanton, Unblocking Obstacles to Capital Markets for
Community Economic Development Lenders. Manchester, NH: Southern
New Hampshire University (School of Economic Development), June
2003.
article-stanton.pdf
(665KB)
Kathy Stearns, “CDFI Investing Made Easy with CARS,” Partners
in Community and Economic Development, vol. 16, no. 3 (2006).
articles-stearns.pdf
(88KB)
Michael Stegman, “Payday Lending,” Journal of Economic Perspectives,
vol. 21, no. 1, winter 2007, pages 169-190.
article-stegman.pdf
(116KB)
*NEW*
Jon Swan, “Native American Bank: Banking the Unbanked,” Communities & Banking, Boston, MA: Federal Reserve Bank of Boston, summer 2008, pp. 20-23.
article-swan.pdf (370KB)
Marva Williams and Tim Westrich, Bibliography: Alternative Financial Institutions,
Chicago: Woodstock Institute.
article-williams.pdf
(109KB)
BOOKS
The Aspen Institute, 2002 Directory of U.S. Microenterprise Programs.
Washington, D.C.: The Aspen Institute, 2002.
John Kretzmann and John McKnight, Building Communities from the
Inside Out. Chicago: ACTA Publications, 1993.
PAPERS
Adina Abramowitz , Bryony Edwards, and Genevieve Melford, Community Development
Finance in Los Angeles Challenges and Responses, Philadelphia, PA: Opportunity
Finance Network, July 2006.
paper-abromowitz-et-al.pdf (3.94MB)
Lehn Benjamin, Julia Sass Rubin, and Sean Zielenbach, “Community Development
Financial Institutions: Current Issues and Future Prospects.” Seeds of
Growth: Sustainable Community Development: What Works, What Doesn’t and
Why. Washington, D.C.: The Federal Reserve Systems’ Third Community Affairs
Research Conference, March 27-28, 2003.
paper-benjamin.pdf
(203KB)
Federal Reserve Chairman Ben S. Bernanke, Community Development Financial Institutions:
Promoting Economic Growth and Opportunity, Washington, DC: address to the Opportunity
Finance Network’s Annual Conference, November 1, 2006.
paper-bernacke.pdf
(112KB)
Ricardo Borgos, Prabal Chakrabarti, and Julia Reade, Understanding Foreclosures
in Massachusetts, Community Affairs Discussion Paper 07-1, Boston, MA: Federal
Reserve Bank of Boston, March 2007.
paper-borgos-et-al.pdf
(304KB)
Anne Claire Broughton, assisted by Elizabeth Irons, Jessica Thomas, and Jennifer
Pawlowski, Beyond Paycheck to Paycheck: Wealth-Building Strategies for Venture
Capital Funds to Use With Portfolio Companies and Their Employees, Durham, NC:
SJF Ventures, 2004.
paper-broughton.pdf
(2MB)
Community Development Venture Capital Alliance, The New Markets Venture Capital
Program: Providing Equity Capital and Expertise to Entrepreneurs in Low-Income
Urban and Rural Communities, New York, NY: CDVCA, July 2006.
paper-cdvca.pdf
(119KB)
Center for Financial Services Innovation, Marrying Financial Transactions with
Asset-Building Opportunities, Chicago: CFSI, July 2005.
paper-cfsi.pdf
(244KB)
*NEW*
Kristi Coker, Innovation Guide: Citizen Potawatomi Community Development Corporation: The Employee Loan Program, Philadelphia, PA: Opportunity Finance Network, March 2008.
paper-coker.pdf (1.6MB)
James DeFilippis, “On Community, Economic Development and Credit Unions,”
paper presented on COMM-ORG: The On-Line Conference on Community Organizing
and Development.
http://comm-org.wisc.edu/papers2001/defilippis2.htm
Paul Davidson, Policy Note: How to Solve the U.S. Housing Problem and Avoid
a Recession: A Revived HOLC and TRC, New York, NY: Schwartz Center for Economic
Policy Analsyis, New School for Social Research, January 2008.
paper-davidson.pdf (130KB)
Penelope Douglas, Beth Sirull, and Pete November, Development Investment Capital:
Three Steps to Establishing an Asset Class for Investing in Underserved Markets,
San Francisco, CA: Pacific Community Ventures, May 2006.
paper-douglas-et-al.pdf
(260KB)
*NEW*
Rebecca Dunn and Mary O’Hara, Innovation Guide: Cooperative Fund of New England and Cooperative Capital Fund: An Equity/Debt Package to Grow the Cooperative Economy, Philadelphia, PA: Opportunity Finance Network, November 2007.
paper-dunn-ohara.pdf (1.5MB)
Gary A. Dynaki, “New Markets” or Old Constraints?” Financing
Community Development in the Post-“War on Poverty” Era. Paper presented
for the National Economics Association conference, Philadelphia, PA, January
7-9, 2005.
paper-dynacki.pdf
(198KB)
Elaine Edgcomb, Joyce A. Klein, and Tamra Thetford, Pursuing Sustainability
in the Microenterprise Field: Findings from a Literature Review by Field, Washington,
DC: Microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination,
The Aspen Institute, March 2007.
paper-edgcomb-et-al.pdf
(684KB)
*NEW*
Bryony Edwards, Predatory Mortgage Lending and the Current Foreclosure Crisis: Market Challenges and Opportunity Finance Responses, Philadelphia, PA: Opportunity Finance Network, June 2008.
paper-edwards.pdf (2MB)
Ren S. Essene and William Apgar, Understanding Mortgage Market Behavior: Creating
Good Mortgage Options for All Americans, Cambridge, MA: Joint Center for Housing
Studies, Harvard University, April 25, 2007.
paper-essene-apgar.pdf
(284KB)
Matt Fellowes and Mia Mabanta, Banking on Wealth: America’s New Retail
Banking Infrastructure and Its Wealth-Building Potential, Washington, DC: Brookings
Institution, Metropolitan Policy Program, January 2008.
paper-fellowes-mabanta.pdf (1.7MB)
Matt Fellowes and Mia Mabanta, Borrowing to Get Ahead, and Behind: The Credit
Boom and Bust in Lower-Income Markets, Washington D.C., Metropolitan Policy
Program, The Brookings Institution, May 2007.
paper-fellowes-mabanta.pdf
(2.4MB)
Pamela Friedman, “Banking the Unbanked: Helping Low-Income Families
Build Financial Assets,” Strategy Brief, Washington, D.C.: The Finance
Project, September 2005.
paper-friedman.pdf
(68KB)
Carrie Hammerman, Brian Tell, David Black and Elaine Edgcomb, Making Every Business
Count: Findings from a Study of Michigan’s Microenterprise Field, Ann
Arbor, MI and Washington, DC: Corporation for a Skilled Workforce and The Aspen
Institute, April 2007.
paper-hammerman-et-al.pdf
(488KB)
Amy L.W. Hosier with Artem Gonopolskiy, Caroline McCarthy, and Sonya Ravindranath,
Corporate Civic Investment Funds: New Models for Community Development Finance?
Fairfax, VA: ICF Consulting, March 2003.
paper-hosier-et-al.pdf (406KB)
Andrea Levere, Bill Schweke, and Beadsie Woo, Development Finance and Regional
Economic Development, Washington, DC: CFED, July 2006.
paper-levere-et-al.pdf
(356KB)
*NEW*
Gary Lindner, Gustavo Lasala, Nelly Rojas-Moreno, and David Gonzalez, Innovation Guide: Acción Texas: Automated Risk Rating and Integrated Portfolio Management, Philadelphia, PA: Opportunity Finance Network, March 2008.
paper-lindner-et-al.pdf (2MB)
Kirsten Moy and Alan Okagaki, “Changing Capital Markets and their Implications
for Community Development Finance.” Capital Xchange. The Brookings Institution
Center on Urban and Metropolitan Policy and Harvard University Joint Center
for Housing Studies, July 2001.
paper-moy.pdf (58KB)
National Community Reinvestment Coalition and Woodstock Institute, A Lifetime
of Assets —Asset Preservation: Trends and Interventions in Asset Stripping
Services and Products, Washington, DC and Chicago, IL: NCRC and Woodstock, September
2006.
paper-ncrc-woodstock.pdf
(185KB)
Mark Pinsky. “Taking Stock: CDFIs Look Ahead After 25 Years of Community
Development Finance.” Capital Xchange. Harvard University, Joint Center
for Housing Studies and The Brookings Institution, Center on Urban and Metropolitan
Policy, December 2001.
paper-pinsky.pdf
(295KB)
Janneke Ratcliffe, North Carolina Consumers after Payday Lending: Attitudes
and Experiences with Credit Options, Chapel Hill, NC: Center for Community Capitalism,
The Frank Hawkins Kenan Institute of Private Enterprise, Kenan-Flagler Business
School,k University of North Carolina, November 2007.
paper-ratcliffe.pdf
(1.2MB)
Julia Sass Rubin, Community Development Venture Capital: A Double-Bottom Line
Approach to Poverty Alleviation.” Paper presented at Changing Financial
Markets and Community Development conference, Washington, D.C.: Federal Reserve
April 4-6, 2001, pp. 121-154.
paper-rubin.pdf
(255KB)
Lester M. Salamon with Stephanie L. Geller, Investment Capital: The New Challenge
for American Nonprofits, Communiqué No. 5, Baltimore, MD: The Listening
Post Project, Center for Civil Society, Institute for Policy Studies, Johns
Hopkins University, 2006.
paper-salamon-geller.pdf
(584KB)
Arjan Schütte, Innovative Trends in Nonprofit Financial Services to the
Underbanked, Chicago, IL; Center for Financial Services Innovation, September
2005.
paper-schutte.pdf
(289KB)
Ellen Seidman, The New Markets Tax Credit: A Valuable Tool for Economic Development,
New York, NY: Living Cities, April 22, 2007.
paper-seidman.pdf
(128KB)
Joshua Silver, Milena Kornyl, Geoff Smith,Greg Bischak, Ray Daffner, and William
Grant, Access to Capital and Credit For Small Businesses in Appalachia, Washington,
DC: National Community Reinvestment Corporation and Appalachian Regional Commission,
May 2007.
paper-silver-et-al.pdf
(944KB)
Jon Spader, Janneke Ratcliffe and Michael A. Stegman, Latino Lending: Analysis
of the Consumer Loan Portfolio of North Carolina’s Cooperativa Communitaria
Latino de Crédito, Chapel Hill, NC: Center for Community Capitalism,
The Frank Hawkins Kenan Institute of Private Enterprise, Kenan-Flagler Business
School,k University of North Carolina, September 21, 2005.
paper-spader-et-al.pdf
(228KB)
Michael A. Stegman, Allison Freeman, and Jong-Gyu Paik, The Portfolios and Wealth
of Low-Income Homeowners and Renters: Findings from an Evaluation of Self-Help
Ventures Fund’s Community Advantage Program, Community Development Working
Paper, San Francisco, CA: Federal Reserve Bank of San Francisco, October 2007.
paper-stegman-et-al.pdf
(1.5MB)
John Taylor, NCRC's John Taylor Testifies Before House Financial Services Committee,
Washington, DC: National Community Reinvestment Coalition, October 25, 2007.
paper-taylor.pdf
(220KB)
Jennifer Tescher, Edna Sawady, and Stephen Kutner, The Power of Experience in
Understanding the Underbanked Market, Chicago, IL: Center for Financial Services
Innovation, June 2007.
paper-tescher-et-al.pdf
(380KB)
Sally K. Ward, Charlie French, Kelly Giraud, and Paul Bradley, Affordable
Housing and Asset Development: The Role of Land Ownership in Mobile Home Parks,
Durham, NH: Carsey Institute, University of New Hampshire, September 6, 2006,
paper prepared for presentation in Phoenix, AZ: CFED Assets Learning Conference—A
Lifetime of Assets: Building Families, Communities & Economies, Sept. 21,
2006.
paper-ward-et-al.pdf
(113KB)
Tim Westrich with John Taylor, David Berenbaum, Joshua Silver, and Anna Gullickson,
Are Banks on the Map? An Analysis of Bank Branch Location in Working Class and
Minority Neighborhoods, Washington, DC: National Community Reinvestment Coalition,
March 2007.
paper-westrich.pdf
(2.8MB)
Dafina Williams, The NEXT Opportunity: Leveraging Opportunity
Finance through State Legislation, Philadelphia, PA: Opportunity
Finance Network, November 2007.
paper-williams.pdf
(340KB)
*NEW*
Marva Williams, Financial Services for People of Modest Means: Lessons from Low-Income Credit Unions, Chicago, IL: Woodstock Institute, March 2004.
paper-williams04.pdf (800KB)
REPORTS
William Apgar et al., The 25th Anniversary of the Community Reinvestment Act:
Access to Capital in an Evolving Financial Services System, prepared for the
Ford Foundation, Cambridge, MA: The Joint Center for Housing Studies, Harvard
University, March 2002.
report-apgar.pdf
(1.7MB)
Debbie Gruenstein Bocian and Aracelis Gray, Enhancing Access to Community
Development Capital: Strategies for Strengthening Low and Moderate Income Communities,
Washington, DC: The Finance Project, January 2005.
report-bocian-gray.pdf
(680KB)
Michael Brostek, Kevin Daly, Thomas Gilbert, Evan Gilman, Tami Gurley-Calvez,
Katherine Harper, Stuart Kaufman, Summer Lingard, Don Marples, Donna Miller;
Ed Nannenhorn, Karen O’Conor, and Cheryl Peterson, New Markets Tax Credit
Appears to Increase Investment by Investors in Low-\Income Communities, but
Opportunities Exist to Better Monitor Compliance, Report 07-296, Washington,
DC: United States Government Accountability Office, January 2007.
report-brostek-et-al.pdf
(2MB)
*NEW*
CDFI Data Project, Community Development Financial Institutions: Providing Capital, Building Communities, Creating Impact, FY 2006 Data, Sixth Edition, Philadelphia, PA: Opportunity Finance Network, June 2008.
report-cdp-fy06.pdf (3MB)
Community Development Venture Capital Association (CDVCA), Report on the Industry
2002, New York: CDVCA, 2004.
report-cdvca.pdf
(544KB)
Development Finance Forum, Capital Plus: The challenge of development in development
finance institutions, Chicago, IL: Development Finance Forum, 2004.
report-development-finance.pdf
(932KB)
Sarah Dewees, Investing in Community: Community Development Financial Institutions
in Native Communities, Kyle, SD and Fredericksburg, VA: First Nations Oweesta
Corporation and First Nations Development Institute, April 2004.
report-dewees.pdf
(436KB)
Elaine L. Edgcomb and Joyce A. Klein. Opening Opportunities, Building Ownership:
Fulfilling the Promise of Microenterprise in the United States. Washington,
D.C.: The Aspen Institute, February 2005.
report-edgcomb.pdf
(1.2MB)
Elaine Edgcomb and Joyce A. Klein, Opening Opportunities, Building Ownership:
Fulfilling the Promise of Microenterprise in the United States, Washington,
DC: FIELD/The Aspen Institute, February 2005.
report-edgcomb-klein.pdf
(1.2MB)
Federal Reserve Bank of Chicago, “An Informed Discussion: Achieving
Sustainability, Scale, and Impact in Community Development Finance: A Conference
Summary,” Profitwise News and Views, Special Edition, December 2005.
report-fed-chicago.pdf
(1.1MB)
Arthur A. Garcia, Director, Performance and Accountability Report FY 2005, Washington,
DC: U.S. Department of Treasury, Community Development Financial Institutions
Fund, 2006.
report-garcia.pdf
(3.2MB)
Wei Li and Keith S. Ernst, The Best Value in the Subprime Market: State Predatory
Lending Reforms, Durham, NC: Center for Responsible Lending, Feb. 23, 2006.
report-li-ernst.pdf
(436KB)
National Community Reinvestment Coalition, CRA Commitments, Washington, DC:
NCRC, summer 2005.
report-ncrc.pdf
(462KB)
National Community Reinvestment Coalition, with The Opportunity Agenda and
the Poverty & Race Research Action Council, Homeownership and Wealth Building
Impeded: Continuing Lending Disparities for Minorities and Emerging Obstacles
for Middle-Income and Female Borrowers of All Races, Washington, DC and New
York, NY: NCRC, The Opportunity Agenda, and PRRAC, April 2006.
report-ncrc-et-al.pdf
(264KB)
New Markets Tax Credit Coalition, The New Markets Tax Credit—Progress
Report 2006, Washington DC: NMTC Coalition, May 2006.
report-nmtc-coalition.pdf
(1.5MB)
Anna Paulson, Audrey Singer, Robin Newberger, and Jeremy Smith, Financial Access
for Immigrants: Lessons from Diverse Perspectives, Chicago, IL and Washington,
DC: Federal Reserve Bank of Chicago and The Brookings Institution, May 2006,
report-paulson-et-al.pdf
(1.8MB)
Gregory A. Ratliff and Kirsten S. Moy with Laura Casoni, Steve Davidson, Cathie
Mahon, and Fred Mendez, “New Pathways to Scale for Community Development
Finance,” Profitwise News and Views. Chicago: U.S. Federal Reserve, December
2004.
report-ratliff.pdf
(811KB)
Bob Rapoza, Alison Feighan, Keith Bisson, and Jonathan Halpern, New Markets
Tax Credits: A Progress Report, Washington, DC: New Markets Tax Credit Coalition,
May 2005.
report-rapoza-et-al.pdf
(430KB)
Nicolas P. Retsinas, editor, Building Assets, Building Credit: Symposium Proceedings,
Cambridge, MA: Joint Center for Housing Studies, Harvard University, November
2003.
report-retsinas.pdf
(540KB)
Amaad Rivera, Brenda Cotto-Escalera, Anisha Desai, Jeannette Huezo, and Dedrick
Muhammad, Foreclosed: State of the Dream 2008, Boston, MA: United for a Fair
Economy, January 2008.
report-rivera-et-al.pdf (684KB)
Julia Sass Rubin, “Community Development Venture Capital: A Report on
the Industry.” New York: CDVCA, 2001.
report-rubin.pdf
(248KB)
Tracy Fernandez Rysavy, editor, Investing in Communities. Washington DC: Social
Investment Forum and Co-op America, fall 2002.
report-rysavy.pdf
(778KB)
Josh Silver, Fair Lending Helps Community Prosperity: An Analysis of Fair Lending
DisparitiesIn the Baton Rouge Metro Area, reported prepared for the Louisiana
Community Reinvestment Coalition by the National Community Reinvestment Coalition,
with the support of United for a Fair Economy, Washington, D.C.: NCRC, June
2007.
report-silver.pdf
(944KB)
Joshua Silver with Kip Brown, CRA Commitments, Washington, DC: National Community
Reinvestment Coalition, September 2007.
report-silver-brown.pdf (418KB)
Social Investment Forum, 2005 Report on Socially Responsible Investing Trends
in the United States: 10 Year Review, Washington DC: Social Investment Forum,
Jan. 24, 2006.
report-social-investment.pdf
(356KB)
Glenn Yago, Betsy Zeidman, and Bill Schmidt, Creating Capital, Jobs and Wealth
in Emerging Domestic Markets: Financial Technology Transfer to Low-Income Communities,
Santa Monica, CA and New York, NY: Milken Institute and Ford Foundation, January
2003.
report-yago-et-al.pdf
(3.2MB)
Glenn Yago, Betsy Zeidman, Teresa Magula, and Jon Sederstrom, Emerging Domestic
Markets: Increasing Capital by Improving Data, Santa Monica, CA: Milken Institute,
April 2007.
report-yago-et-al.pdf
(1.4MB)
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