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Who’s Funding Appalachia’s Transition from Coal? - Inside Philanthropy
Philanthropy can't match the government’s numbers, but Appalachia’s troubles have prompted activity from foundations. Previous coverage in IP highlighted Appalachian Community Capital, a collaborative effort between private and nonprofit actors to invest in the region. Its funders include the Calvert Foundation, which raised over $15 million to support Appalachian small business, and the Ford Foundation.
2016  article  CDFIs  finance  coal  Appalachia 
august 2016 by jatrimar
MACED receives $2M to support transition in eastern Kentucky | Harlan Daily Enterprise
The Appalachian Regional Commission announced a $2 million grant to the Mountain Association for Community Economic Development (MACED) to implement a new economic development program in eastern Kentucky with the help of several partners. This investment was made possible through the Obama Administration’s Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative. The POWER Initiative was created to support coalfield communities facing economic transition. This multi-agency effort is also supported by the Economic Development Administration.

“We need to create a new post-coal economy in eastern Kentucky that is more diverse, sustainable and equitable,” MACED President Peter Hille said. Creating a new economy requires strengthening the entrepreneurial ecosystem — the networks and resources needed to support entrepreneurs in a wide range of sectors, including energy, healthcare, tourism, local foods, sustainable forestry and the creative economy.
pressrelease  2016  coal  CDFIs 
august 2016 by jatrimar
Ron Grzywinski and Mary Houghton | community bankers - US News
"There was a general bias in dealing with minorities," says Grzywinski, a Chicago native and chairman of ShoreBank, "and a bias that this was the role of the government, not the private sector."
CDFIs  history  article  2007 
april 2016 by jatrimar
Bachus: More Oversight of CDFI Program Needed | House Committee on Financial Services
"My interest in the CDFI Fund program dates back to my days as the Chairman of the Committee's Oversight and Investigations Subcommittee in the late 1990s, when our Oversight Subcommittee uncovered serious irregularities and conflicts of interest in the Fund's process for awarding grants. That investigation resulted in the resignations of the agency's two top officials, and led Treasury to adopt a number of reforms to address the abuses identified by the Subcommittee."
CDFIs  critical  2010  pressrelease  republican 
april 2016 by jatrimar
Too Good to Fail | Stanford Social Innovation Review
During its 37 years, ShoreBank Corporation became the United States’ leading social enterprise of its kind: its for-profit bank subsidiary was the largest certified Community Development Financial Institution (CDFI) in the nation. Its social impact was significant: more than $4.1 billion in mission investments and more than 59,000 units of affordable housing financed. In 2008, ShoreBank had more than $2.4 billion in assets and earned more than $4.2 million in net income. It had inspired a national movement of community development financial institutions, shaped federal community investment legislation, and served as a role model for dozens of progressive banks. The company also had influence abroad, overseeing social and economic development projects in more than 60 countries and working with Muhammad Yunus to capitalize Grameen Bank and administer microloans to the poor.
CDFIs  2011  article  Chicago  history 
april 2016 by jatrimar
Southern Bancorp 2014 annual report
Understanding and developing habits that positively impact your credit, as well as avoiding financial pitfalls that can create
barriers to achieving your financial goals, work together to build economic security and independence.
report  2014  MSBanks  CDFIs 
january 2016 by jatrimar
BEA FY2015 Application comment letter.pdf
See page 6 for details about Guaranty Bank's "New Horizons" program. Also good stuff about State Bank and Trust and Southern Bancorp.

"Over the past two years, 197 loans totaling $224,019 have been originated, with a charge off rate of 1.64%. A total of 927 individuals have participated in financial literacy classes and 703 (79%) completed the 5-week course. Of this group, 197
customers took out a New Horizon loan."
MSBanks  pdf  2015  CDFIs 
january 2016 by jatrimar
NMTC Investment Data Through 2010 in Mississippi
Great list of NMTC investment in private businesses up to 2010.
pdf  2010  NMTC  CDFIs 
january 2016 by jatrimar
HOPE: The Evolution of a Community Development Organization
Detailed history of HOPE Enterprise Corporation, by a Swarthmore economist. By John Caskey.
AcademicArticle  2013  CDFIs 
january 2016 by jatrimar
Strengthening Relationships Between Lenders and Farmers of Color
The MSU Center for Regional Food Systems (CRFS) and the National Sustainable Agriculture Coalition (NSAC), with representatives from the Opportunity Finance Network (OFN), convened a roundtable discussion that included representatives of farmers of
color networks (FOCNs) and Community Development
Financial Institutions(CDFIs).
2014  agriculture  CDFIs  race  report 
december 2015 by jatrimar
Community Development: CDFI Fund Can Improve Its Systems to Measure, Monitor, and Evaluate Awardees' Performance - 156245.pdf
This is the GAO's 1998 report about the CDFI Fund. It criticizes the Bank Enterprise Award. "Our evaluation of the 1996 assistance agreements revealed (1) an emphasis on measures of activity, such as the number of loans made, rather than on measures of accomplishment, such as the net number of jobs created or retained."
1998  GAO  CDFIs  banks  report  critical 
december 2015 by jatrimar
Treasury's Bank Enterprise Award Program: Impact on Investments in Distressed Communities Is Difficult to Determine, but Likely Not Significant - d06824.pdf
The Government Accountability office's 2006 report to Congress criticized the BEA program. "The BEA program’s performance measures likely overstate its impact, and GAO identified weaknesses in certain program internal controls."
CDFIs  2006  GAO  report 
december 2015 by jatrimar
Hope Credit Union adding Shaw, Drew to Delta network - Mississippi Business Journal
Hope Federal Credit Union is extending its reach into the Mississippi Delta with full-service branch openings in Drew and Shaw. The openings are the community development financial institution’s newest effort to reverse the state’s increase in “banking deserts,” a trend that has left 38.7 percent of Mississippi households unbanked or under-banked.
MSBanks  MS  MSDelta  2015  CDFIs 
december 2015 by jatrimar
an NCIF resource The Impact of the Reporting Banks and the Mission-Oriented Banking Industry
Results of a survey of 24 banks that invest in poor communities around the United States. Guaranty Bank and Trust from Belzoni is one of them.
2015  CDFIs  NCIF  report  pdf 
december 2015 by jatrimar
CDFI Fund Annual Report from 2000
Annual report of the CDFI Fund from the year 2000.
CDFIs  2000 
december 2015 by jatrimar
CDFI Year in Review FY 2013
The CDFI fund's annual report from 2013.
report  CDFIs  2013 
november 2015 by jatrimar
Appalachia's new region-wide CDFI : building local community with global capital?
By connecting Appalachia's small businesses to large external investors, will this CDFI bring more community development capital into the region, and help alleviate poverty? Or, as the neoliberal era deepens into the "Age of Austerity", is this but the latest use of market logic to attempt to solve public, political problems, fraught with the shortcomings of such an approach? I argue that the new CDFI may bring capital into the region. But because it does so using market logic, it cannot ensure that the money will go to the neediest areas, or that it will be invested in a manner which actually creates jobs for existing residents, in locally owned businesses (thereby keeping profit in the region), or in sustainable industries.
CDFIs  critical  2014  MIT 
october 2015 by jatrimar

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