The Community Development Bankers Association was honored to attend the U.S. Department of the Treasury’s roundtable on September 25th, focused on how financial institutions can better serve small businesses, particularly women-owned and minority-owned enterprises. As mission-driven institutions, CDFIs play a critical role in ensuring access to capital for historically underserved communities. This discussion, led by Deputy Assistant Secretary Jeanette Quick, addressed the unique challenges small businesses face in accessing capital and explored potential solutions for fostering a more inclusive and competitive marketplace. We believe CDFIs are at the forefront of addressing these disparities, providing the financial services needed to create equitable opportunities for small businesses to thrive. Thank you to the Treasury for facilitating this important dialogue. #CDFI #SmallBusinessFinance #InclusiveEconomy #WomenOwnedBusinesses #MinorityOwnedBusinesses #CommunityDevelopment
Community Development Bankers Association
Banking
Washington, District of Columbia 1,692 followers
The national trade association of community development banks. We are the voice & champion of mission-focused banks.
About us
Community Development Bankers Association (CDBA) is the national trade association of the community development bank sector. We are the voice and champion of banks and thrifts with a mission of serving low and moderate income communities. CDBA is located in Washington, D.C. and strives to provide our member banks with exceptional representation in the nation's Capitol.
- Website
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http://www.cdbanks.org
External link for Community Development Bankers Association
- Industry
- Banking
- Company size
- 2-10 employees
- Headquarters
- Washington, District of Columbia
- Type
- Nonprofit
Locations
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Primary
1444 I Street
Washington, District of Columbia 20005, US
Employees at Community Development Bankers Association
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Brian A. Blake
Chief Public Policy Officer at Community Development Bankers Association
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Brian Argrett
President & Chief Executive Officer, City First Bank
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Kent Curtis
President & CEO at First Southwest Bank
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Kat Taylor
Works in service of restoring social justice and environmental well-being to build a more equitable and inclusive world.
Updates
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The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded $60 million in Financial Assistance (FA) to 43 community development banks and bank holding companies through the FY 2024 CDFI Program and Native American CDFI Assistance (NACA) Program. Of the total $408.2 million in awards this year, 37 CDBA members received 91% of the funding allocated to depository institutions, with 11 members receiving their first FA awards. In addition, $43.2 million NACA Program awards were disbursed to 25 CDFI organizations, and eight Native CDFIs received $4 million in PPC-FA awards. This includes two banks, both of which are CDBA members. This funding will enable mission-driven banks to continue delivering essential capital and financial services, supporting small business lending, affordable housing, and revitalization efforts in underserved communities. CDBA member banks are driving long-term economic resilience and laying the groundwork for sustained growth in communities across the country. Learn more about how CDBA members are making an impact: www.cdbanks.org. #EconomicOpportunity #CDFIFund #CommunityDevelopment #FinancialInclusion
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Our CEO, Jeannine Jacokes, participated in a key conversation at the Clinton Global Initiative on the future of mission-driven capital. As the Community Development Financial Institutions Fund (CDFI Fund) celebrates 30 years, this dialogue reinforced the vital role CDFIs play in driving investment to underserved communities and building a stronger, more inclusive economy.
Today I participated in a roundtable discussion at the Clinton Global Initiative on The Future of Mission-Driven Capital, which brought together long-time colleagues, friends, and new faces from the CDFI sector, including: • Pravina Raghavan, Community Development Financial Institutions Fund (CDFI Fund) Director • Janis Bowdler, U.S. Treasury • Nancy Santiago, Clinton Global Initiative • Jan Piercy, Southern Bancorp • Chrystal Corneilius, Oweesta Corporation • Cathie Mahon, Inclusiv • Donna Gambrell, Appalachian Community Capital • Airan Simone, Fearless Fund • Harold Pettigrew, Jr., Opportunity Finance Network The conversation highlighted the vital role of the CDFI Fund in driving resources to underserved communities—especially meaningful as the Fund celebrates its 30th anniversary this week. The Clinton Global Initiative event also featured inspiring appearances from Prince Harry, President Joe Biden, President Bill Clinton, and renowned humanitarian José Andrés, spotlighting the ongoing efforts to create lasting social and economic impact. #CDFI #MissionDrivenCapital #CommunityFinance #CDFIFund30 #CGI2024
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As we commemorate 30 years of the Community Development Financial Institutions Fund (CDFI Fund), we reflect on the incredible impact it has had on underserved communities across the nation. In our office hangs a signed copy of the Riegle Act—the historic legislation that established the CDFI Fund, authorized in 1994. This copy was gifted to our CEO, Jeannine Jacokes, by Sen. Don Riegle, who was serving as Chairman of the Senate Banking Committee at the time, in recognition of her role as lead Senate staff on the CDFI Fund’s authorizing statute. It stands as a powerful reminder of the vision and leadership that brought the CDFI Fund into existence and the transformative work it has enabled. Since its creation, the CDFI Fund has awarded more than $3.8 billion in grants, loans, and equity investments, helping create jobs, build affordable housing, and promote economic growth. Through this partnership, CDBA and its member banks, which began in 2002, have leveraged these resources to extend critical financial services to communities historically excluded from the financial system. The Fund’s support has enabled mission-driven banks to direct billions of dollars back into disenfranchised communities, creating real and lasting change. As we look to the future, CDBA remains committed to expanding access to capital and empowering underserved communities, ensuring that the next 30 years of the CDFI Fund are as impactful as the first. #CDFIFund #CommunityDevelopment #FinancialInclusion #EconomicOpportunity #Leadership
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As we approach the 30th anniversary of the Community Development Financial Institutions Fund (CDFI Fund), we wanted to reflect on how crucial this program has been in driving economic inclusion and financial equity across our nation. The founding of the Community Development Bankers Association (CDBA) in 2001 was a direct response to the need for greater support for mission-driven banks serving low-income and underserved communities. And, with the support of the CDFI Fund, our member banks have been able to provide the capital, services, and resources necessary to reach underserved people, promote equity, and spur economic development and resilience in areas often left behind by traditional finance. Looking to the future, CDBA remains dedicated to advancing the goals of the CDFI Fund. We are committed to continuing our work with policymakers and stakeholders to ensure that mission driven banks have the resources they need to serve the people and places that need them most. As we celebrate this important milestone, we’d like to share a message from Secretary of the Treasury Janet Yellen, who recently highlighted the lasting impact of the CDFI Fund. Read her full statement here ---> https://lnkd.in/dsXmyRHy As we continue to move forward, CDBA will remain a steadfast advocate for the CDFI Fund’s mission, working to build a more inclusive financial system that benefits all. Thank you for your continued partnership and support as we work to expand opportunities for those who need them most.
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CDFI Fund announces FY 2024 Bank Enterprise Awards (BEA) recipients. Treasury awarded more than $40 million in total to CDFI banks. In this funding round: - 98% of available dollars went to certified CDFIs. - Of the 171 CDFI banks that received awards, 89 (52%) were CDBA members. - 63% of CDBA members received the maximum grant of $280,369. - The average award size was $234,357. The average award size to CDBA members was $244,896. Congratulations! Your hard work has made a difference, and it's crucial to keep advocating for continued funding for the CDFI Fund and BEA programs to ensure the future success of CDFI banks. Read more at ---> https://lnkd.in/eTnz9jc9
CDFI Fund Awards $40.1 Million to Banks Investing in Severely Distressed Communities
cdfifund.gov
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CY 2023 New Market Tax Credit Recipients Announced Today, the Community Development Financial Institutions Fund (CDFI Fund) announced the CY 2023 New Market Tax Credit (NMTC) recipients. Below is a summary of the awardees. - Treasury awarded $5 billion in tax credits to 104 Community Development Entities (CDEs). - 7 CDBA banks, bank holding companies, and bank-affiliated CDEs received NMTC allocations: PB Community Impact Fund, LLC (Peoples Bank); Carver Financial Corporation (Carver State Bank); Harbor Bankshares Corporation (The Harbor Bank of Maryland); SB New Markets CDE, LLC (Sunrise Banks); CBKC CDC, LLC (Central Bank of Kansas City; Locus Impact Fund (Locus Bank); and UB Community Development, LLC (United Bankshares, Inc.). - These 7 banks received awards totaling $365 million. - A total of 196 organizations applied for the CY 2023 round requesting $14.8 billion in tax credit allocation authority. - The $5 billion awarded in the CY 2023 round brings the total NMTC allocations to $81 billion across 20 rounds. - For every $1 invested by the federal government in this program, $8 of private capital is generated and dedicated to economic growth in low-income urban and rural communities across the nation. - Through the end of fiscal year 2023, NMTC Program award recipients deployed more than $66.6 billion in investments in low-income communities and businesses. The success of these programs is directly tied to the strong advocacy efforts of CDBA members. Thank you for all of your work this year. Read more here: https://lnkd.in/dd5i4pxq
The U.S. Department of the Treasury Announces $5 Billion in New Markets Tax Credits
cdfifund.gov
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In the latest Regions Bank CDFI Convening, CDBA member banks Friend Bank and Southern Bancorp were featured for their leadership in community development. John Olaimey, CEO of Southern Bancorp, discussed the critical role CDFIs play in balancing margin and mission, while Friend Bank executives Charlie Breedlove and Lawrence Johnson shared their expertise in innovative underwriting practices. ---> Read more here: https://lnkd.in/dmdcC3AX #CDFI #CommunityDevelopment #Banking #FinancialInclusion #CDBA
'We Have a Vested Interest in Helping Communities Grow'
accesswire.com
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Community Development Bankers Association reposted this
Our letter addressing the disposition of Federal pandemic - era investments into mission focused banks: Policy can support industry growth, in line with Congressional intent.
CDBA recently submitted a letter to the U.S. Treasury providing detailed feedback on the proposed guidelines for the Emergency Capital Investment Program (ECIP). The letter highlights concerns about performance thresholds, fairness in disposition options, and the need for clear guidance on capital treatment. Read the full letter to learn more about CDBA’s recommendations for improving the ECIP guidelines and ensuring long-term success for CDFIs and MDIs. ---> Read the letter here: https://lnkd.in/dmz52A-M
Advocacy Letters | Community Development Bankers Association
cdbanks.org
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CDBA recently submitted a letter to the U.S. Treasury providing detailed feedback on the proposed guidelines for the Emergency Capital Investment Program (ECIP). The letter highlights concerns about performance thresholds, fairness in disposition options, and the need for clear guidance on capital treatment. Read the full letter to learn more about CDBA’s recommendations for improving the ECIP guidelines and ensuring long-term success for CDFIs and MDIs. ---> Read the letter here: https://lnkd.in/dmz52A-M
Advocacy Letters | Community Development Bankers Association
cdbanks.org