Community Development Financial Institutions (CDFIs)

North Country Federal Credit Union

Based in Burlington, North County Federal Credit Union is a credit union open to anyone who lives, works, studies, or worships in northern Vermont.  As of 2014, North Country had nearly 34,000 members and held over $454.7 million in assets.  Committed to the community, North Country underwrites college scholarships, supports community events, and funds quality childcare for single, low-income parents re-entering the workplace.

Making the Case for Linking Community Development and Health

Edmonds et al

This report, published in partnership by the Center on Social Disparities in Health, the Build Healthy Places Network, and the Robert Wood Johnson Foundation, is a "resource for those working to improve low-income communities and the lives of the people living in them." Despite growing recognition that social and economic conditions are the primary drivers of health, the fields of community development and public health remain siloed. This new report from the Robert Wood Johnson Foundation’s Build Healthy Places Network outlines specific opportunities to integrate the two fields and overcome barriers to collaboration. It also includes recommendations on how to measure the impact of cross-sector collaborations and refine programs accordingly.  

Colorado Enterprise Fund

The Colorado Enterprise Fund is a Community Development Financial Institution (CDFI) that finances small businesses in Colorado. We are involved in a number of community wealth building efforts, including healthy food access and local food systems, supporting local entrepreneurs and co-ops, and the Community Wealth Building Network of Metro Denver. Read more about Colorado Enterprise Fund...

Broad-Based Ownership Models as Tools for Job Creation and Community Development

Marjorie Kelly, Steve Dubb and Violeta Duncan

As cities wrestle with the growing challenge of wealth inequality, more and more leaders are looking to broad-based ownership models as tools to create jobs and build community wealth. These models are highly effective, with a positive impact for low- and moderate-income individuals and communities. This report looks at six such models—ESOPs, Worker Cooperatives, CDFIs, Social Enterprises, Municipal Ownership, and Emerging Hybrids—with examples of best practices, and explores how these models can be used in community economic development.

New Community Federal Credit Union

Founded to provide financial services to low and moderate-income and minority communities bypassed by traditional banks and credit unions, the New Community Federal Credit Union aims to serve the financial needs of current and former New Community Corporation (NCC) employees and their families, NCC residents, and parents of children at NCC schools.  Established in 1984, the credit union now has over 4,000 members.  It also provides homebuyer workshops and financial literacy training to its members and the surrounding community. Read more about New Community Federal Credit Union...

The Intersect Fund

Based in Newark, The Intersect Fund provides microloans, business training, and coaching to low-income, minority, and women-owned business owners throughout New Jersey.  Established in 2009 by two Rutgers students with just $1,000 in seed capital, it has provided to date more than 300 loans totaling more than $800,000, as well as technical assistance to more than 1,000 businesses. Read more about The Intersect Fund ...

Greater Newark Enterprises Corporation

Greater Newark Enterprises Corporation (GNEC) is a community development corporation and a certified CDFI that provides financial services to low-income families and finances job creation, community facilities, and small business growth and development. Since it was established in 2005, GNEC has provided approximately $5 million in financing to small businesses, creating nearly 400 jobs.  Since 2007, GNEC has provided entrepreneurial training and technical assistance to more than 500 prospective and existing business owners in the Greater Newark area each year through its Urban Entrepreneurs Development Institute (UEDI).

City National Bank

City National Bank is a minority-owned and managed bank focused on building economic strength and improving the quality of life within the communities it serves. Catalyzed in 1971 when a group of African-American community leaders recognized the need for a Newark-based financial institution to serve people whose access to credit and banking services was historically limited, it now has around $2.9 million in assets.  Established to bolster economically challenged communities, its City National Urban Fund (CNUF) provides financial support to socially conscious projects that strengthen urban areas in New Jersey and New York.

Genesee Co-op Federal Credit Union

Founded in 1981 by a group of area residents dissatisfied by corporate banking, Genesee Co-op Federal Credit Union now has more than 2,600 member owners with savings of $8 million.  The Co-op runs a Micro-enterprise Development Program, which provides micro-business loans, lines of credit, business training, and referrals.  The Co-op also offers free financial education services to its members. Read more about Genesee Co-op Federal Credit Union...

ESL Federal Credit Union

Founded in 1920 as Eastman Savings and Loan Association, ESL Federal Credit Union is now one of the largest independent credit unions in the country with $5 billion in assets, 325,000 members, and more than 680 employees.  Recognized as both a member- and employee-focused organization, ESL has been selected by Rochester Choice Awards as Rochester's favorite place to bank since 2002. Read more about ESL Federal Credit Union...

Advantage Federal Credit Union

Established in 1931, Advantage Federal Credit Union (AFCU) currently serves over 20,000 members in the Rochester region and holds over $200 million in assets.  Focused on helping the community, AFCU funds and supports numerous foundations, nonprofits, and initiatives in the Rochester area, including student-run credit unions at local high schools and student scholarships.  The credit union also provides free financial literacy counseling and workshops to individuals, schools, employers, and community groups. Read more about Advantage Federal Credit Union...

Indianapolis Neighborhood Housing Partnership

Established in 1988, Indianapolis Neighborhood Housing Partnership (INHP) aims to increase affordable and sustainable housing opportunities for individuals and families and serve as a catalyst for the development and revitalization of area neighborhoods.  To do so, INHP offers homeownership education, financial and mortgage advisory services, and a variety of affordable mortgage and loan options for those buying or improving homes.  In 2012, INHP invested in or helped leverage more than $22 million in mortgage financing; closed 376 mortgages or grants for home purchase, improvement or repair; and graduated over 3,000 people from its classes.

Financial Center Federal Credit Union

Established in 1953 and headquartered in Indianapolis, Financial Center Federal Credit Union serves over 54,000 residents of Central Indiana.  With over $500 million in assets, the credit union offers its members free financial education seminars and discounts at local stores, and has a Latino Advisory Council to help ensure it meets the needs of Greater Indianapolis’ Latino community. Read more about Financial Center Federal Credit Union...

CRA Investment Handbook

Center for Community Development Investments

NCRC Annual Conference

March 25th, 2015 to March 28th, 2015
Washington, DC

NewCorps

Founded in 1995, NewCorp aims to serve as an economic development catalyst in the Greater New Orleans region by providing technical and financial assistance to small and emerging businesses.  In addition to operating several loans funds to support small businesses and promote economic development, NewCorp offers a range of services including certification assistance, strategic planning, accounting consultation, financial assistance, marketing assistance, software training, and management counseling.  Since its formation, the CDFI has provided technical assistance to over 4,500 clients and Read more about NewCorps...

CD Capital

Established in 2000 in response to the rapid growth of blighted properties across New Orleans, CD Capital aims to revitalize communities, provide affordable housing, bring properties back into use, improve the tax base, and strengthen the local economy of New Orleans and Louisiana.  To do so, the CDFI finances the development of multi-family, commercial and mixed-use real estate, and the creation and preservation of housing, particularly affordable housing.  Since its formation, CD Capital has created a loan pool of roughly $1.7 million and supported the development of over 1,500 affordabl Read more about CD Capital...

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...