Community Development Financial Institutions (CDFIs)

Community Development Financial Institutions (CDFIs)

Alternatives Federal Credit Union

Alternatives Federal Credit Union was founded by the Alternatives Group, which brought together community groups, cooperatives, and worker-owned enterprises. It has over $51 million in assets. In addition to providing consumer loans, the credit union also operates an individual development account program, a student credit union, and provides business loans. Read more about Alternatives Federal Credit Union ...

Bethex Federal Credit Union

Serving more than 5,000 members, Bethex is a small community development credit union based in the Bronx that has come up with an innovative way of dealing with competition from check cashers: partnering with them to enable customers at their point-of-banking terminals - more than 130 sites across the city - to make free loan payments and deposits into their credit union accounts. Read more about Bethex Federal Credit Union...

Boston Community Capital

Founded in 1984, Boston Community Capital (BCC) is one of the most innovative and successful community development financial institutions in the nation.  It has lent more than $1 billion and leveraged almost 1.5 billion in private investment. In addition to broadening access to healthy food finance, BCC has helped to prevent more than 500 foreclosure-related evictions, renovate 1.6 million square feet of real estate, finance more than 15,000 units of affordable housing, and create 4,440living-wage jobs. Read more about Boston Community Capital...

Chicago Community Loan Fund

Chicago Community Loan Fund (CCLF) provides low-cost, flexible financing to nonprofit community development organizations for affordable housing, commercial development, and nonprofit facility initiatives. Since 1991, CCLF has grown from an initial investment of $200,000 to over $40 million in total capital under management.  To date, it is credited with closing more than $95 million in community development financing, which has or will leverage an additional $1 billion in public and private sector financing for Chicago-based development projects. Read more about Chicago Community Loan Fund...

City First Bank

Part of a family of companies that work together to serve the needs of low and moderate income residents of the DC metro area, City First Bank is a nationally chartered community development bank with assets of $214 million, deposits of $171 million, and loans of $152 million, 80 percent of which are made to businesses in low-income communities.  Since its establishment in 1998, the bank has financed more than 5,371 units of affordable housing and helped create or retain over 4,368 jobs. Read more about City First Bank...

Community First Fund

Founded in 1992, Community First's service area has expanded from its initial base in Lancaster County to a thirteen-county region in south central Pennsylvania with a population of over 3.5 million. To date, Community First Fund has made over $19 million in loans. Community First has helped preserve 1,300 jobs, develop 120 new affordable housing units, and finance 150,000 square feet of commercial space, primarily in lower income urban neighborhoods. Read more about Community First Fund...

Community Reinvestment Fund

Minneapolis-based Community Reinvestment Fund works to raise capital on behalf of community development lenders through the secondary market for loans. Started in 1989, the group has injected hundreds of millions of dollars into low-income and economically disadvantaged communities across the country to help stimulate job creation and economic development, provide affordable housing, and construct community facilities.  Its work is credited with creating or retaining 73,000 jobs, developing 19,000 units of affordable housing, and directly benefiting 1.7 million people.

Cooperative Fund of New England

Founded in 1975, the Cooperative Fund of New England has grown to have $5.5 million in assets under management. To date, the loan fund has provided $14.7 million to fund 411 loans to cooperative businesses and community-oriented nonprofits around the region, helping to create or retain more than 5,000 jobs and finance the building or improvement of over 2,000 homes. Read more about Cooperative Fund of New England...

Ecotrust

With a focus on creating economic opportunity, promoting social equity, and ensuring environmental well-being, Ecotrust accomplishments include co-founding the world's first environmental bank with now more than $300 million assets and receiving $50 million in New Markets Tax Credits to start the world's first ecosystem investment fund.  Since its founding in 1991, Ecotrust has helped create more than $300 million in capital for the people, communities and businesses of the West Coast, including Alaska. Read more about Ecotrust...

Florida Community Loan Fund

Intending to create a new financing organization to support nonprofits with access to credit and technical assistance, in 1996, a local religious group pooled its pension funds to provide the initial investment for Florida Community Loan Fund (FCLF). To date, the state’s first statewide certified CDFI has made over 180 loans for a total of over $140 million to over 100 organizations throughout Florida. In 2014, more than $62 million, about one third of FCLF 2014 lending, was deployed within the Fort Lauderdale-Miami region. Read more about Florida Community Loan Fund...

IFF

IFF, formerly known as the Illinois Facilities Fund, provides loans and real estate consulting to nonprofits based in the Midwest, with a particular focus on those that serve low-income communities and special needs populations. It is the largest nonprofit CDFI in the Midwest and one of only a few nationally to earn the CARS AAA+1 rating Established in 1988, IFF now has assets of more than $305 million. Read more about IFF...

Kentucky Highlands Investment Corp.

KHIC was founded in 1968 to promote community economic development in southeastern Kentucky. In 1972, it became the country's first community development venture capital fund, a fund which has now grown to $40 million. Over the years KHIC has helped provide $178 million in financing to 220 businesses, thereby helping to create 9,900 jobs. Read more about Kentucky Highlands Investment Corp....

Lakota Fund

Founded in 1985, the Lakota Fund has promoted economic revitalization on the Pine Ridge Reservation community. The fund has financed the construction of affordable housing, made micro-enterprise and small business loans supporting the employment of over 500 people and has developed an Individual Development Account matched-savings program. Read more about Lakota Fund...

Low Income Investment Fund

Since the group's founding in the mid-1980s, LIIF has provided capital and technical assistance totaling $1.5 billion, which in turn leveraged an additional $6 billion, broadening economic opportunity for 1.7 million people. LIIF's investments helped to create 174,000 units of low income and special needs housing, 243,000 childcare spaces, and 72,000 educational facilities. Read more about Low Income Investment Fund...

Montana Community Development Corporation

Founded in 1989, Montana CDC serves, despite its “CDC” name, more as a Community Development Financial Institution (CDFI), with a focus on small business lending in five counties of western Montana. It also operates a Native American Fund (which makes micro loans to Native American-led businesses) and a Child Care Loan fund that helps childcare businesses expand facilities and improve programs. Between July 2004 and February 2005 alone, it disbursed over $500,000 in loan financing. Read more about Montana Community Development Corporation...

Native American Bank

Native American Bank was founded in 2001 by a group of Tribal Nations and Alaska Native Corporations. Based in Denver, the Bank provides affordable and flexible banking and financial services to Native American and Alaskan Native individuals, enterprises, and governments as a way to foster economic independence, development and sustainability. The only national American Indian owned community development bank in the country, as of 2015 it had more than $77 million in assets.

New Hampshire Community Loan Fund

New Hampshire Community Loan Fund was the first statewide community development loan fund in the country. NHCLF is nationally renown for its Manufactured Housing Park Program, a loan product that has enabled mobile home residents to purchase mobile home parks and run them as cooperatives. Read more about New Hampshire Community Loan Fund...

Nonprofit Finance Fund

The Nonprofit Finance Fund was established in 1980 and is now one of the nation's leading community development financial institutions (CDFIs), serving nonprofits in the Washington, D.C. Read more about Nonprofit Finance Fund...

Northcountry Cooperative Development Fund

Northcountry Cooperative Development Fund is a member-owned and governed community development loan fund and federally certified Community Development Financial Institution (CDFI). Structured as a cooperative assoication, NCDF is owned by more than 150 cooperatives in 30 states and finances producer, worker, consumer, and housing cooperatives through the US (except in New England – see Cooperative Fund of New England). Read more about Northcountry Cooperative Development Fund...

Opportunity Resource Fund

Created in 2004 out of a merger of two community development funds that date back to the 1980s, the Opportunity Resource Fund (formerly named the Michigan Interfaith Trust Fund) offers a variety of loan products, and underwrites projects for affordable housing, economic development, pre-development, and mixed-use development throughout the state of Michigan. To date, the fund has lent $21.9 million for affordable housing, leveraging an additional $73.7 million, and has helped develop nearly 2,000 housing units. Read more about Opportunity Resource Fund...

People's Community Partnership Federal Credit Union

Chartered in 2000 and open since 2001, People's Community Partnership is a community development credit union that is open to anyone who lives, works, worships or volunteers in the West Oakland flatlands. It is also the first banking institution to operate in West Oakland since the 1960s, providing area residents with an alternative to expensive check-cashing services and payday loans. Members can open an account with as little as a $25 and a one-time $5 fee. It has grown to have more than 2500 members with assets of more than $4.5 million. Read more about People's Community Partnership Federal Credit Union...

PeopleFund

Founded in 1994, PeopleFund provides loans to small businesses and nonprofits, and a range of business assistance services including one-to-one mentorship and educational workshops.  As of 2013, it had lent over $37 million to more than 445 small business owners and nonprofits, creating over 3,000 new jobs.  Nearly two-thirds of the businesses it supports are minority owned.

Self-Help

Founded in 1980, Self-Help is a community development lender that has provided $6.08 billion through 74,548 loans to homebuyers, small businesses, and nonprofits nationwide. Self-Help has also been a leader in efforts to limit predatory lending policies of check cashing outlets and other "fringe" banking services. Read more about Self-Help...

SJF Ventures

SJF Ventures (originally known as the “Sustainable Job Fund”) is a community development venture capital fund. To date, SJF has invested $10.3 million in 18 companies, helping to retain 815 jobs and create an additional 702 jobs. Investment in a company is contingent on the company signing a covenant, with mutually agreed upon goals regarding job creation, facility location, and environmental impact. Read more about SJF Ventures ...

Southern Appalachian Fund

The Southern Appalachian Fund (SAF) is a $12.5 million community development venture capital fund formed to provide equity capital and operational assistance to qualifying businesses in southern Appalachia. SAF focuses specifically on companies in Kentucky, Tennessee, and the Appalachian counties of Georgia, Alabama, and Mississippi and makes investments in qualifying firms in amounts that range from $200,000 to $600,000. Through its investments, the fund aims to promote economic development, encourage wealth creation and increase job opportunities for individuals living in low-income geographic areas.

The Reinvestment Fund

Founded in 1985, TRF is an umbrella group that oversees a host of community development loan and venture funds that invest in the Mid-Atlantic region. As of 2007, TRF has managed over $700 million in capital. To date, TRF financing has helped create or preserve over 16,000 housing units, 420 businesses, 22,000 charter school slots, 35,000 jobs and 1.53 million MWh of clean energy, or enough power to run 150,000 homes for a year. Read more about The Reinvestment Fund...

Wisconsin Women’s Business Initiative Corporation

Since its founding in 1987, the Wisconsin Women's Business Initiative Corporation (WWBIC) has loaned more than $34 million to 3,500 business owners and has helped to create and retain 8,000 jobs. WWBIC supports entrepreneurship and home ownership amongst women, people of color, and low income communities through a range of services, including  business and financial education courses as well as individual development accounts. It has grown to become Wisconsin’s largest microlender.  Read more about Wisconsin Women’s Business Initiative Corporation...

Community Development Financial Institutions (CDFIs)

Alternatives Federal Credit Union

Alternatives Federal Credit Union was founded by the Alternatives Group, which brought together community groups, cooperatives, and worker-owned enterprises. It has over $51 million in assets. In addition to providing consumer loans, the credit union also operates an individual development account program, a student credit union, and provides business loans. Read more about Alternatives Federal Credit Union ...

Bethex Federal Credit Union

Serving more than 5,000 members, Bethex is a small community development credit union based in the Bronx that has come up with an innovative way of dealing with competition from check cashers: partnering with them to enable customers at their point-of-banking terminals - more than 130 sites across the city - to make free loan payments and deposits into their credit union accounts. Read more about Bethex Federal Credit Union...

Boston Community Capital

Founded in 1984, Boston Community Capital (BCC) is one of the most innovative and successful community development financial institutions in the nation.  It has lent more than $1 billion and leveraged almost 1.5 billion in private investment. In addition to broadening access to healthy food finance, BCC has helped to prevent more than 500 foreclosure-related evictions, renovate 1.6 million square feet of real estate, finance more than 15,000 units of affordable housing, and create 4,440living-wage jobs. Read more about Boston Community Capital...

Chicago Community Loan Fund

Chicago Community Loan Fund (CCLF) provides low-cost, flexible financing to nonprofit community development organizations for affordable housing, commercial development, and nonprofit facility initiatives. Since 1991, CCLF has grown from an initial investment of $200,000 to over $40 million in total capital under management.  To date, it is credited with closing more than $95 million in community development financing, which has or will leverage an additional $1 billion in public and private sector financing for Chicago-based development projects. Read more about Chicago Community Loan Fund...

City First Bank

Part of a family of companies that work together to serve the needs of low and moderate income residents of the DC metro area, City First Bank is a nationally chartered community development bank with assets of $214 million, deposits of $171 million, and loans of $152 million, 80 percent of which are made to businesses in low-income communities.  Since its establishment in 1998, the bank has financed more than 5,371 units of affordable housing and helped create or retain over 4,368 jobs. Read more about City First Bank...

Community First Fund

Founded in 1992, Community First's service area has expanded from its initial base in Lancaster County to a thirteen-county region in south central Pennsylvania with a population of over 3.5 million. To date, Community First Fund has made over $19 million in loans. Community First has helped preserve 1,300 jobs, develop 120 new affordable housing units, and finance 150,000 square feet of commercial space, primarily in lower income urban neighborhoods. Read more about Community First Fund...

Community Reinvestment Fund

Minneapolis-based Community Reinvestment Fund works to raise capital on behalf of community development lenders through the secondary market for loans. Started in 1989, the group has injected hundreds of millions of dollars into low-income and economically disadvantaged communities across the country to help stimulate job creation and economic development, provide affordable housing, and construct community facilities.  Its work is credited with creating or retaining 73,000 jobs, developing 19,000 units of affordable housing, and directly benefiting 1.7 million people.

Cooperative Fund of New England

Founded in 1975, the Cooperative Fund of New England has grown to have $5.5 million in assets under management. To date, the loan fund has provided $14.7 million to fund 411 loans to cooperative businesses and community-oriented nonprofits around the region, helping to create or retain more than 5,000 jobs and finance the building or improvement of over 2,000 homes. Read more about Cooperative Fund of New England...

Ecotrust

With a focus on creating economic opportunity, promoting social equity, and ensuring environmental well-being, Ecotrust accomplishments include co-founding the world's first environmental bank with now more than $300 million assets and receiving $50 million in New Markets Tax Credits to start the world's first ecosystem investment fund.  Since its founding in 1991, Ecotrust has helped create more than $300 million in capital for the people, communities and businesses of the West Coast, including Alaska. Read more about Ecotrust...

Florida Community Loan Fund

Intending to create a new financing organization to support nonprofits with access to credit and technical assistance, in 1996, a local religious group pooled its pension funds to provide the initial investment for Florida Community Loan Fund (FCLF). To date, the state’s first statewide certified CDFI has made over 180 loans for a total of over $140 million to over 100 organizations throughout Florida. In 2014, more than $62 million, about one third of FCLF 2014 lending, was deployed within the Fort Lauderdale-Miami region. Read more about Florida Community Loan Fund...

IFF

IFF, formerly known as the Illinois Facilities Fund, provides loans and real estate consulting to nonprofits based in the Midwest, with a particular focus on those that serve low-income communities and special needs populations. It is the largest nonprofit CDFI in the Midwest and one of only a few nationally to earn the CARS AAA+1 rating Established in 1988, IFF now has assets of more than $305 million. Read more about IFF...

Kentucky Highlands Investment Corp.

KHIC was founded in 1968 to promote community economic development in southeastern Kentucky. In 1972, it became the country's first community development venture capital fund, a fund which has now grown to $40 million. Over the years KHIC has helped provide $178 million in financing to 220 businesses, thereby helping to create 9,900 jobs. Read more about Kentucky Highlands Investment Corp....

Lakota Fund

Founded in 1985, the Lakota Fund has promoted economic revitalization on the Pine Ridge Reservation community. The fund has financed the construction of affordable housing, made micro-enterprise and small business loans supporting the employment of over 500 people and has developed an Individual Development Account matched-savings program. Read more about Lakota Fund...

Low Income Investment Fund

Since the group's founding in the mid-1980s, LIIF has provided capital and technical assistance totaling $1.5 billion, which in turn leveraged an additional $6 billion, broadening economic opportunity for 1.7 million people. LIIF's investments helped to create 174,000 units of low income and special needs housing, 243,000 childcare spaces, and 72,000 educational facilities. Read more about Low Income Investment Fund...

Montana Community Development Corporation

Founded in 1989, Montana CDC serves, despite its “CDC” name, more as a Community Development Financial Institution (CDFI), with a focus on small business lending in five counties of western Montana. It also operates a Native American Fund (which makes micro loans to Native American-led businesses) and a Child Care Loan fund that helps childcare businesses expand facilities and improve programs. Between July 2004 and February 2005 alone, it disbursed over $500,000 in loan financing. Read more about Montana Community Development Corporation...

Native American Bank

Native American Bank was founded in 2001 by a group of Tribal Nations and Alaska Native Corporations. Based in Denver, the Bank provides affordable and flexible banking and financial services to Native American and Alaskan Native individuals, enterprises, and governments as a way to foster economic independence, development and sustainability. The only national American Indian owned community development bank in the country, as of 2015 it had more than $77 million in assets.

New Hampshire Community Loan Fund

New Hampshire Community Loan Fund was the first statewide community development loan fund in the country. NHCLF is nationally renown for its Manufactured Housing Park Program, a loan product that has enabled mobile home residents to purchase mobile home parks and run them as cooperatives. Read more about New Hampshire Community Loan Fund...

Nonprofit Finance Fund

The Nonprofit Finance Fund was established in 1980 and is now one of the nation's leading community development financial institutions (CDFIs), serving nonprofits in the Washington, D.C. Read more about Nonprofit Finance Fund...

Northcountry Cooperative Development Fund

Northcountry Cooperative Development Fund is a member-owned and governed community development loan fund and federally certified Community Development Financial Institution (CDFI). Structured as a cooperative assoication, NCDF is owned by more than 150 cooperatives in 30 states and finances producer, worker, consumer, and housing cooperatives through the US (except in New England – see Cooperative Fund of New England). Read more about Northcountry Cooperative Development Fund...

Opportunity Resource Fund

Created in 2004 out of a merger of two community development funds that date back to the 1980s, the Opportunity Resource Fund (formerly named the Michigan Interfaith Trust Fund) offers a variety of loan products, and underwrites projects for affordable housing, economic development, pre-development, and mixed-use development throughout the state of Michigan. To date, the fund has lent $21.9 million for affordable housing, leveraging an additional $73.7 million, and has helped develop nearly 2,000 housing units. Read more about Opportunity Resource Fund...

People's Community Partnership Federal Credit Union

Chartered in 2000 and open since 2001, People's Community Partnership is a community development credit union that is open to anyone who lives, works, worships or volunteers in the West Oakland flatlands. It is also the first banking institution to operate in West Oakland since the 1960s, providing area residents with an alternative to expensive check-cashing services and payday loans. Members can open an account with as little as a $25 and a one-time $5 fee. It has grown to have more than 2500 members with assets of more than $4.5 million. Read more about People's Community Partnership Federal Credit Union...

PeopleFund

Founded in 1994, PeopleFund provides loans to small businesses and nonprofits, and a range of business assistance services including one-to-one mentorship and educational workshops.  As of 2013, it had lent over $37 million to more than 445 small business owners and nonprofits, creating over 3,000 new jobs.  Nearly two-thirds of the businesses it supports are minority owned.

Self-Help

Founded in 1980, Self-Help is a community development lender that has provided $6.08 billion through 74,548 loans to homebuyers, small businesses, and nonprofits nationwide. Self-Help has also been a leader in efforts to limit predatory lending policies of check cashing outlets and other "fringe" banking services. Read more about Self-Help...

SJF Ventures

SJF Ventures (originally known as the “Sustainable Job Fund”) is a community development venture capital fund. To date, SJF has invested $10.3 million in 18 companies, helping to retain 815 jobs and create an additional 702 jobs. Investment in a company is contingent on the company signing a covenant, with mutually agreed upon goals regarding job creation, facility location, and environmental impact. Read more about SJF Ventures ...

Southern Appalachian Fund

The Southern Appalachian Fund (SAF) is a $12.5 million community development venture capital fund formed to provide equity capital and operational assistance to qualifying businesses in southern Appalachia. SAF focuses specifically on companies in Kentucky, Tennessee, and the Appalachian counties of Georgia, Alabama, and Mississippi and makes investments in qualifying firms in amounts that range from $200,000 to $600,000. Through its investments, the fund aims to promote economic development, encourage wealth creation and increase job opportunities for individuals living in low-income geographic areas.

The Reinvestment Fund

Founded in 1985, TRF is an umbrella group that oversees a host of community development loan and venture funds that invest in the Mid-Atlantic region. As of 2007, TRF has managed over $700 million in capital. To date, TRF financing has helped create or preserve over 16,000 housing units, 420 businesses, 22,000 charter school slots, 35,000 jobs and 1.53 million MWh of clean energy, or enough power to run 150,000 homes for a year. Read more about The Reinvestment Fund...

Wisconsin Women’s Business Initiative Corporation

Since its founding in 1987, the Wisconsin Women's Business Initiative Corporation (WWBIC) has loaned more than $34 million to 3,500 business owners and has helped to create and retain 8,000 jobs. WWBIC supports entrepreneurship and home ownership amongst women, people of color, and low income communities through a range of services, including  business and financial education courses as well as individual development accounts. It has grown to become Wisconsin’s largest microlender.  Read more about Wisconsin Women’s Business Initiative Corporation...