Community Development Financial Institution
Community Development Bank Resource Directory
This directory provides easy access to information for a sampling of organizations that can provide resources to banks interested in investing in Community Development (CD) Banks or Community Development Financial Institutions (CDFIs). It also provides materials of interest to banks considering converting to a national CD Bank or organizations considering forming a CD Bank. The activities are organized under the following categories:
Guidance to Prospective Community Development Bank Organizing Groups This OCC memo provides a general discussion of the chartering process for community development national banks, including the licensing and operational issues facing bank organizers. It also outlines the criteria the OCC uses in granting a CD bank charter, explains the assistance OCC provides to organizers of CD banks, and states the factors the OCC considers to be critical to the success of any de novo CD bank. Please see our current list of nationally chartered CD banks.
Guide To Tribal Ownership of a National Bank This guide was developed to assist federally recognized Indian tribes in exploring entry into the national banking system by establishing or acquiring control of a national bank. The publication provides a high level overview of the process of chartering a national bank and may also be useful to individuals and groups considering the formation of a Community Development Bank.
Community Development Corporations, Community Development Projects, and Other Public Welfare Investments Regulation(12 CFR Part 24) governs national bank investments designed to promote the public welfare. National banks may make investments in CD banks and CDFIs under the provisions outlined in the regulation.
Bank Enterprise Act (BEA) Program recognizes the key role played by traditional financial institutions in community development lending and investing. It provides financial incentives for banks and thrifts to invest in CDFIs and to increase their financial services, lending, and investments in distressed communities. This BEA Program example provides a simple explanation of how of a bank might qualify for a BEA Program award.
Core/Intermediary Program provides financial and technical assistance to financial intermediaries actively involved in community development. CDFI Core funding applicants must be a certified CDFI, or demonstrate the ability to become a certified CDFI, for the purpose of creating community development impact, in markets that are economically distressed. CDFI Intermediary funding applicants target financial products and services to other CDFIs or emerging CDFIs. The CDFI Fund maintains a state-by-state listing of CDFI Fund awardees.
Native American CDFI Technical Assistance In 2001, the CDFI Fund launched the Native American CDFI Technical Assistance (NACTA) Component, a program designed to help strengthen and create CDFIs in Native American, Alaska Native, and Native Hawaiian communities. NACTA provides technical assistance grants to Native American tribes exploring the feasibility of establishing a CDFI or CD bank.
New Markets Tax Credit Program permits taxpayers to receive a credit against Federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). Substantially all of the qualified equity investment must in turn be used by the CDE to provide investments in low-income communities. The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year credit allowance period. The CDFI Fund maintains a state-by-state listing of CDFI Fund certified CDEs.
National Credit Union Administration (NCUA) is an independent federal agency that supervises and insures over 6,500 federal credit unions and insures more than 4,000 state-chartered credit unions. Over 800 of these entities have been designated as "low-income" credit unions in that they serve primarily low-income members in distressed and financially underserved areas. NCUA manages a Revolving Loan Fund and provides technical assistance grants to low-income designated credit unions. Low income credit unions can receive capital treatment for secondary capital loans . NCUA’s Credit Union Data webpage allows for a search of all low-income credit unions.
Federation of Community Development Credit Unions (NFCDCU) helps community development credit unions (CDCUs) provide affordable loans, secure savings, basic financial education and other vital services to low-income and minority consumers. NFCDCU serves as an intermediary for banks and thrifts interested in making deposits in CDCUs.
Capital Association (NCCA) is a national membership organization of CDFIs. NCCA's membership includes community development credit unions, community development venture capital funds, and micro-enterprise lenders. NCCA manages a revolving loan fund for institutional investors interested in providing financing to performance-based CDFIs nationally. NCCA also maintains a national directory of CDFIs.
Investment Fund (NCIF ) is an independent, nonprofit trust that invests equity and debt in depository CDFIs. NCIF works with entities interested in investing in CDFIs to underwrite and structure their investments and assess the potential financial and development impact. The NCIF Web site outlines criteria for institutions in which it will invest and the types of financial assistance available. NCIF offers training on the BEA Program to its members and investors.
Reinvestment Fund (CRF) is a non-profit organization which provides a secondary market for community development loans originated by CDFIs. CRF also provides loan servicing and portfolio management services, as well as lender training and technical assistance to community-based lenders.
Community Development Bankers Association (CDBA)is a national trade association focused on the specialized needs of CD banks. CDBA promotes growth of the industry though: (1) identification of best practices in the industry the sharing of information about CD banking, and (2) providing training and educational opportunities for lawmakers, regulators, investors, and government agencies about the issues facing the CD banking industry. CDBA may be reached by contacting Jeaninne Jacokes at (202) 289-2636.
Enterprise Opportunity (AEO) is a member organization which is
dedicated to the promotion of microenterprise in the U.S. AEO provides its members with a forum,
information, and a voice to promote microenterprise for people and communities
with limited access to economic resources. AEO maintains a national listing of
microenterprise organizations on their Web site.
Federal Microenterprise Resource Guide provides information on: (1) Federal programs and how to access these resources; (2) the work of successful microenterprise development organizations through case studies; and (3) common definitions used by Federal agencies administering microenterprise support programs.
Corporation for Enterprise Development
(CFED) promotes microenterprise finance to expand access to business training, technical assistance and capital in low-income communities. Current CFED work in development finance includes the creation of an information intermediary for the CDFI field as well as consulting and training services to communities and institutions in all sectors. CFED operates the National Fund
for Economic Development which is a certified CDFI that invests in state-based
microenterprise intermediaries. NFED works nationally to help these
intermediaries attract new funding available for microenterprise and track
microenterprise development outcomes in their states.
provides access to credit for low- and moderate-income small businesses owners.
ACCION partners with traditional financial institutions to provide business
loans and other support services in 30 cities and towns in the United States.
The average size loan by ACCION in the United States is about $6,000.
Capital Association is a trade
association that represents the venture capital industry. Its membership
consists of venture capital firms and organizations that manage pools of risk
equity capital designated to be invested in young, emerging companies.
Development Venture Capital Association (CDVCA) promotes the use
of venture capital to create jobs, entrepreneurial capacity, and wealth. CDVCA
accomplishes these goals through training programs, publications, networking
opportunities, and direct consulting services. CDVCA’s website contains a
description of and links to community development venture capital funds
throughout the country.
Association of Seed and Venture Funds (NASVF) is an organization
of private, public and nonprofit organizations focused on facilitating
investments in local entrepreneurs. NASVF’s website provides links to seed and
venture capital organizations as well as information on upcoming training
sessions and seminars.
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