Community Development Financial Institutions (CDFIs)

Neighborhood National Bank

Established in 1997, Neighborhood National Bank (NNB) is the first nationally chartered bank designated as a CDFI.  NNB prioritizes investing local deposits into small and mid-sized San Diego businesses and providing banking products, services, and advisory support to businesses and people within San Diego’s underserved communities.

CDC Small Business Finance

Headquartered in San Diego, CDC Small Business Finance provides capital to small businesses so that they can expand and create jobs.  Since its establishment in 1978, the nonprofit is credited with creating or preserving 182,000 jobs by making over 11,000 loans totaling $13.8 billion to small businesses across California, Arizona, and Nevada.

Economic Opportunities Fund

Established by the Women’s Opportunities Resource Center (WORC) in response to the challenges its graduates experienced obtaining start-up capital, the Economic Opportunities Fund (EOF) is a CDFI focused on providing capital to low-income and underserved populations in the Philadelphia metropolitan area.  To ensure its borrowers’ financial success, EOF offers a range of support services including post-loan technical assistance and tax credit preparation.  Since its inception in 1999, EOF has made more than 350 loans, totaling over $1.2 million, that are credited with creating and retaining several hundred jobs.

PIDC Community Capital

Established in 1997 by PIDC, PIDC Community Capital aims to support community revitalization, improved quality of life, and business growth, particularly among Philadelphia’s African American-owned businesses.  To do so, the CDFI focuses on: 1) financing high impact projects in disadvantaged communities that create quality jobs, eliminate blight, and provide new goods and services; 2) deploying capital and technical support services to small, growing businesses; and 3) repositioning and transitioning underutilized real estate assets for productive use.  In 2016, PIDC Community Capital made 75 business loans, over 60 percent of which were made to minority or women-owned firms, and invested over $15 million in low-income communities.

St. Louis Community Credit Union/Prosperity Connections

Founded in 1942 and originally housed in the dining room of its first president, St. Louis Community Credit Union now has $250 million in assets, 15 branch locations, more than 175 full-time employees, and over 53,000 members.  To bring low-cost banking services to “financial deserts,” the credit union also operates three mini-branches within social service agencies.  In 2009, St. Louis Community Credit Union became a CDFI, a designation that has helped it secure more than $3.3 million to provide services to low-income, underserved populations.  In 2009, the credit union also established a separate nonprofit, Prosperity Connections, which provides free financial education and a nonprofit alternative to payday lending and check cashing services.  To date, the nonprofit has supported over 33,000 people.

First Independence Bank

Founded in 1970, First Independence Bank is a Detroit-based, black-owned CDFI.  As of 2016, First Independence held over $235 million in assets, operated three branches, and employed 81 full-time workers.  In addition to providing a full range of financial services, the CDFI provides affordable home improvement loans in distressed urban areas. Read more about First Independence Bank...

Pathway Lending

Based in Nashville, Pathway Lending is a CDFI focused on providing underserved small businesses in Tennessee with the capital and educational services they need to grow and succeed.  Since its establishment in 1999, the CDFI has made more than 915 loans totaling nearly $150 million and provided more than 32,000 hours of business advisory services. Read more about Pathway Lending...

Housing Fund

The Housing Fund finances affordable housing and neighborhood revitalization projects across Middle Tennessee.  Since its incorporation in 1996, the CDFI has lent over $66 million, which in turn has leveraged over $400 million in private financing to support more than 4,300 units of housing for low and moderate income families.

Local Enterprise Assistance Fund (LEAF)

The Local Enterprise Assistance Fund (LEAF) aims to promote human and economic development by providing financing and development assistance to cooperatives and social purpose ventures that create and save jobs for low-income people.  To date, LEAF has invested and leveraged over $106 million, resulting in the creation or retention of more than 7,800 jobs.  The CDFI is just one of three in the U.S. with a focus on supporting cooperative enterprises.

Banking On Justice

James Trimarco
Yes! Magazine

A Yes Special Report...In the poorest region of the nation’s poorest state, a tiny government program keeps money flowing through mom-and-pop financial institutions in the Mississippi Delta—changing lives....read more