Community development financial institution

Micron Partners with Clarity Credit Union to Boost Access to Capital for Local Idaho Communities

Retrieved on:

Lunedì, Giugno 10, 2024

Today’s announced deposit will help Clarity Credit Union offer products, services and financial literacy education to members in the state’s rural areas who may lack access to conventional financial services.

Key Points:

Today’s announced deposit will help Clarity Credit Union offer products, services and financial literacy education to members in the state’s rural areas who may lack access to conventional financial services.
This includes broadening rural and underrepresented communities’ access to capital and critical financial services.
“Clarity Credit Union is grateful to Micron for their $4 million CDFI deposit.
Clarity Credit Union’s mission is to provide specialized and affordable financial services to low-income and underserved communities.

Seattle Credit Union Selects Upstart for Personal Lending

Retrieved on:

Mercoledì, Maggio 29, 2024

Software, Payments, Finance, Artificial Intelligence, Banking, Professional Services, Technology, Fintech, Seattle Credit Union, Credit union, Partnership, Senior, CDFI, Community development financial institution, Community development, Artificial intelligence, Multimedia, Bank

View the full release here: https://www.businesswire.com/news/home/20240529628093/en/

Key Points:

View the full release here: https://www.businesswire.com/news/home/20240529628093/en/
“Seattle Credit Union is dedicated to serving the financial needs of our community and making prosperity a reality for our members,” said Lee Pierce, Chief Lending Officer at Seattle Credit Union.
With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Seattle Credit Union’s credit policies will receive tailored offers as they seamlessly transition into a Seattle Credit Union-branded experience to complete the online member application and closing process.
“We welcome Seattle Credit Union to the Upstart family of lending partners,” said Michael Lock, Senior Vice President of Lending Partnerships at Upstart.
“As part of the Upstart Referral Network, Seattle Credit Union is expanding access to affordable credit for more members in its community looking for a personal loan on Upstart.com.”
To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video .

Excite Credit Union Partners with The Healing Place of New Hanover County to Provide Transitional Assistance Program for Addiction Recovery Clients

Retrieved on:

Mercoledì, Maggio 22, 2024

CDFI, Partnership, Transport, Community development financial institution, Community development, Housing, Food, Head, Hope, Financial services

The Healing Place of New Hanover County provides food, shelter, and recovery services at no cost to clients, removing barriers to achieving and maintaining sobriety.

Key Points:

The Healing Place of New Hanover County provides food, shelter, and recovery services at no cost to clients, removing barriers to achieving and maintaining sobriety.
As clients exit the care of THPNC, many struggle with securing housing, transportation, utilities, and other essentials.
Our alliance with Excite Credit Union allows us to help our clients break the cycle of addiction, giving them new financial tools and hope for a better future.”
Excite Credit Union's partnership with The Healing Place of New Hanover County (THPNC) is the beginning of a transformative program.
This initiative aims to provide vital financial aid and resources to THPNC clients, bolstering their journey towards stability and independence.

Heartland BancCorp Elects Diana L. Turoff, CPA to Board

Retrieved on:

Mercoledì, Maggio 22, 2024

Bachelor of Science, Heartland Bank, Housing, Certified Public Accountant, CDFI, Community development financial institution, Community development, Environment, Knowledge, Franklin University, Management

WHITEHALL, Ohio, May 22, 2024 (GLOBE NEWSWIRE) -- Heartland BancCorp (“Heartland” and “the Company”) (OTCQX: HLAN), parent company of Heartland Bank (“Bank”), today announced that at the company’s annual meeting, Diana L. Turoff was duly elected as director of the company, effective May 21, 2024.

Key Points:

WHITEHALL, Ohio, May 22, 2024 (GLOBE NEWSWIRE) -- Heartland BancCorp (“Heartland” and “the Company”) (OTCQX: HLAN), parent company of Heartland Bank (“Bank”), today announced that at the company’s annual meeting, Diana L. Turoff was duly elected as director of the company, effective May 21, 2024.
She was also elected to the Board of Directors of Heartland Bank in March of 2024.
With over 25 years of experience in housing, real estate, finance and accounting leadership, Diana possesses a wealth of experience in both for-profit and nonprofit environments.
“Heartland is a thought leader in the community banking environment, providing intimate and specialized banking services to their clients.

Tricolor Issues $277M Social Bond to Support Physical Mobility and Expand Financial Inclusion in Underserved Hispanic Communities

Retrieved on:

Mercoledì, Maggio 22, 2024

Transport, FICO, Jules Kroll, Barclays, Class E, Sale, International Capital Market Association, AI, Framework, ABS, JPMorgan Chase, CDFI, Community development financial institution, Treasury, Community development, Artificial intelligence, S&P Global Ratings, ICMA

Tricolor is an award-winning fintech innovator that leverages artificial intelligence (AI) to successfully underwrite and extend affordable loans to credit invisible customers.

Key Points:

Tricolor is an award-winning fintech innovator that leverages artificial intelligence (AI) to successfully underwrite and extend affordable loans to credit invisible customers.
By providing deserving people with access to reliable, affordable transportation and moving them into the financial mainstream, Tricolor aims to reverse systemic financial inequality in America.
JPMorgan acted as the lead structuring agent with Barclays serving as Joint Bookrunner and Fifth Third Securities as Co-Manager.
“For more than 16 years, Tricolor has developed leading technology alongside a best practice discipline to help America’s most underserved communities overcome systemic financial and mobility challenges,” said Daniel Chu, founder and CEO of Tricolor.

U.S. Treasury Grants CDFI Certification to UPI Loan Fund

Retrieved on:

Mercoledì, Maggio 1, 2024

UPI, Food, Social change, Housing, African Americans, Certification, Community development financial institution, Treasury, The Black Wall Street, Health, Crump, Private law, Community development, CDFI, MCC, NEST, Service, Drug

PHOENIX, May 1, 2024 /PRNewswire/ -- The UPI Loan Fund (UPILF) is pleased to announce its 2024 recertification as a Community Development Financial Institution (CDFI). This U.S. Department of Treasury designation recognizes UPI as a private financial institution providing low-cost consumer and business loans to underserved communities.

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PHOENIX, May 1, 2024 /PRNewswire/ -- The UPI Loan Fund (UPILF) is pleased to announce its 2024 recertification as a Community Development Financial Institution (CDFI).
The UPI Loan Fund was incorporated in 2004 and modeled on the Jewish Free Loan Program , which began in the 1940s.
"Because UPI Loan Fund takes social impact and community development into consideration, borrowers outline how their loan will benefit their community and contribute to positive social change," said Charmeachealle Moore, founder of ProLiving Inc .
"Through our CDFI certification and ever-expanding partnerships, UPI is working to close the racial wealth gap by cultivating financial empowerment within our community."

Excite Credit Union Opens Headquarters and New Branch in South San Jose

Retrieved on:

Martedì, Aprile 16, 2024

State, Community development financial institution, Credit union, SIB, School, Dykstra, CPA, Community development, CDFI, San Francisco Bay Area, Organization, SAN, Bank

SAN JOSE, Calif., April 16, 2024 (GLOBE NEWSWIRE) -- Excite Credit Union proudly announced the official ribbon-cutting for its newest branch on Bernal Road, San Jose, will take place April 26.

Key Points:

SAN JOSE, Calif., April 16, 2024 (GLOBE NEWSWIRE) -- Excite Credit Union proudly announced the official ribbon-cutting for its newest branch on Bernal Road, San Jose, will take place April 26.
President and CEO of the California and Nevada Credit Union Leagues, Diana Dykstra, will share remarks on the credit union difference and the impact Excite CU imparts on the local community.
It is the fourth Excite CU branch in San Jose, located in the same building as their California headquarters.
Unique across the Bay Area, Excite is a Community Development Financial Institution (CDFI), Low Income Credit Union (LICU), and Juntos Avanzamos-designated.

Alaska Power & Telephone Welcomes New Heat Pump Deployment Initiative to its Prince of Wales Island Service Area

Retrieved on:

Giovedì, Maggio 2, 2024

Alaska Power & Telephone Company (AP&T) is excited to announce that Spruce Root – a southeast Alaska non-profit and Community Development Financial Institution – was selected to receive a $2.5m US DOE grant for a heat pump deployment project for Prince of Wales Island.

Key Points:

Alaska Power & Telephone Company (AP&T) is excited to announce that Spruce Root – a southeast Alaska non-profit and Community Development Financial Institution – was selected to receive a $2.5m US DOE grant for a heat pump deployment project for Prince of Wales Island.
The project, titled “Decarbonizing the Tongass with Tribally Owned Heat Pumps,” will be a multi-year initiative to add 240 air source heat pumps to residential homes in Prince of Wales Island communities.
Prince of Wales has an abundance of hydropower provided by the Black Bear Lake, South Fork, and Híilangaay hydropower projects.
The project will help reduce emissions, improving air quality within Prince of Wales communities, and the Tongass National Forest.

On the Road Lending Announces Expansion into North Carolina

Retrieved on:

Mercoledì, Aprile 24, 2024

Other Consumer, Automotive, Finance, General Automotive, Banking, Professional Services, Philanthropy, Social Services, Consumer, Foundation, OTR, ROAD, Community development financial institution, Treasury, Road, Empowerment, Transport, Freedom, Community development

On the Road Lending, a nonprofit organization that launched in Dallas in 2013 to provide life-changing car loans, is expanding into North Carolina.

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On the Road Lending, a nonprofit organization that launched in Dallas in 2013 to provide life-changing car loans, is expanding into North Carolina.
“We are thrilled to bring our auto lending program to North Carolina,” said Michelle Corson, On the Road Lending’s founder and CEO.
On the Road Lending has already impacted one North Carolinian, Arnett G. He struggled to expand his business beyond local events without a car.
OTR FUND I, LLC is an impact investment fund that provides affordable loans to clients of On the Road Lending.

Boston Financial Ranked #1 Syndicator of Affordable Housing for Fourth Consecutive Year By NMHC

Retrieved on:

Mercoledì, Aprile 17, 2024

Professional Services, Residential Building & Real Estate, Finance, Construction & Property, Urban Planning, Banking, Investment, Housing, Community development financial institution, Partnership, LIHTC, NMHC, CDFI, Orix, Property management

Boston Financial, one of the longest-standing syndicators of Low-Income Housing Tax Credits (“LIHTC”) in the U.S., has once again been ranked the largest LIHTC multifamily housing syndicator for the fourth consecutive year by National Multifamily Housing Council (NMHC) .

Key Points:

Boston Financial, one of the longest-standing syndicators of Low-Income Housing Tax Credits (“LIHTC”) in the U.S., has once again been ranked the largest LIHTC multifamily housing syndicator for the fourth consecutive year by National Multifamily Housing Council (NMHC) .
“We are honored to once again be ranked as the largest syndicator of LIHTC homes by NMHC,” said Thomas Paramore, Head of Housing and Community Investments at Boston Financial.
“As the ongoing crisis in housing affordability continues to impact our communities, the need to develop impactful affordable housing has become even more immediate and critical.
In addition to a core Low-Income Housing Tax Credit syndication business, Boston Financial provides affordable housing preservation equity, impact funds, and U.S. Treasury-certified Community Development Financial Institution (CDFI) lending opportunities.