Community Development Financial Institutions (CDFIs)

Community First Credit Union of Florida

The Community First Credit Union of Florida was founded in 1935 and is a non-profit credit union based in Jacksonville serving seven counties in Northeast Florida with 16 branches. In 2011, the credit union loaned more than $700 million, held assets of more than $1 billion, and had more than 104,000 members. The credit union supports the community through raising funds for local community organizations and through financial education workshops.

West Elmwood Housing Development Corporation

Incorporated in 1970, West Elmwood Housing Development Corporation (WEHDC) is a not-for-profit organization offering economic, home ownership, and real estate development for the residents, business owners, and community groups in the West End neighborhood and other low- wage areas of Providence. This CDFI offers low income home buyers up to $5,000 in down payment grants, up to $20,000 in down payment loans for moderate income families, as well as loans limited to cash out for home repair or debt consolidation.  They also offer $6,000 in Foreclosure Prevention Loans, over $2,000 in Emergency Home Repair Loans, and flexible credit terms with rates as low as three percent.  They own 120 units- 73 affordable and 47 market rental units.

Providence Revolving Fund

The Providence Revolving Fund manages two capital funds: the Neighborhood Loan Fund, with over two million dollars in assets, has invested seven and a half million dollars in historically low- income Providence neighborhoods to restore 460 building, including the renovation of 46 previously abandoned buildings, and invested over 23 million dollars in additional financial assistance services.  The Downcity Fund, with over six million dollars in assets, has invested over seven million dollars in loans and $95,000 in matching grants to construct 100 new housing units, assisted 18 property owners with facade renovations, and provided gap financing for development projects for the commercial district in downtown Providence.  The fund has served as consultants to Smith Hill Community Development Corporation, West Elmwood Housing Development Corporation, along with many others.

Leading Community Loan Conference Convenes Next Month

Opportunity Finance Networks Holds 28th Annual Meeting

The 2012 OFN Conference – the leading conference on community loan funds - is one month away. OFN expects to have more than 1,000 industry professionals attend the Conference in San Antonio from October 15-18.

Read more about Leading Community Loan Conference Convenes Next Month...

Texas Association of Community Development Corporations

TACDC improves the lives of low and moderate income Texans by strengthening the capacity of community development organizations as well as generating resources and relationships that enhance and sustain the community development industry in Texas.The Texas Association of Community Development Corporations (TACDC) is a non-profit statewide membership association of CDC's and related non-profit, government and for-profit entities.TACDC provides a broad range of programs and services to help our members do their work more effectively. Read more about Texas Association of Community Development Corporations...

Harbor Bank of Maryland

Opened in 1982, Harbor Bank of Maryland was the first minority-owned, full-service bank in Baltimore.  With assets of $233 million as of 2015, the bank aims to serve as a catalyst for economic development by offering small and mid-size business loans, directing a non-profit community development corporation, and lending in distressed areas.  As a CDFI, the bank is credited with directly leveraging approximately $800 million in Baltimore—investments that have indirectly initiated more than $1.5 billion dollars of new development in the area.

Faith Fund

Faith Fund is a community development financial institution (CDFI) providing loans and technical assistance to support the development of affordable housing, microenterprises and small businesses, and community facilities in the Baltimore region's underserved markets The Faith Fund received a $200,000 grant from the U.S. Department of the Treasury in 2003 and raised the rest of its start-up money from religious groups, local foundations, and individuals. Read more about Faith Fund...

Baltimore Community Lending

A nonprofit community loan fund, Baltimore Community Lending (BCL) provides financing to develop affordable housing, community facilities, and mixed used developments in underserved Baltimore neighborhoods.  Established in 1989 and certified as a CDFI in 2002, BCL is credited with leveraging nearly $160 million to produce 3,750 affordable homes and 450,000 square feet of commercial and community facility space. It has also helped Baltimore households threatened by predatory lending by providing the capital needed to refinance $3.5 million into affordable loan mortgages, and by administering training and technical assistance to homeowners to complete $2.7 million in repairs so that they could preserve their homes.

Northeast Community Federal Credit Union

Established in 1981, the National Community Federal Credit Union (NECFCU) is a non-profit, member-owned, federally insured community development credit union serving mainly the Chinatown, Tenderloin, and South of Market Branch neighborhoods in San Francisco. The credit union stimulates grass-roots community development by fostering financial stability, promoting small business development, and supporting home ownership. As of 2014, NECFCU had 1,517 members and assets of $11 million. Read more about Northeast Community Federal Credit Union...