Community development financial institution

United Bancorporation of Alabama receives capital investment from Department of the Treasury

Retrieved on: 
Wednesday, July 13, 2022
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ATMORE, Ala., July 13, 2022 /PRNewswire/ -- United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country United Bank and UB Community Development, has received a $123 million investment from the U.S. Department of the Treasury under its Emergency Capital Investment Program, or ECIP.

Key Points: 
  • ATMORE, Ala., July 13, 2022 /PRNewswire/ -- United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country United Bank and UB Community Development, has received a $123 million investment from the U.S. Department of the Treasury under its Emergency Capital Investment Program, or ECIP.
  • The new capital is intended to be used by United to further increase lending efforts for borrowers in underserved, low-income and minority communities.
  • United Bancorporation of Alabama, Inc. (OTCQX: UBAB) is a $1.2 billion financial holding company that primarily serves Southwest Alabama as well as Northwest Florida.
  • United operates three subsidiaries: United Bank, Town-Country United Bank and UB Community Development.

Crossroads Impact Corp Announces $180 Million Equity Investment from Funds Managed by P10 and Conversant Capital and Expanded Relationship with Enhanced Capital Group to Accelerate Growth

Retrieved on: 
Tuesday, July 12, 2022
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DALLAS, July 11, 2022 (GLOBE NEWSWIRE) -- Crossroads Impact Corp (OTCQX: CRSS), the parent company of leading Community Development Financial Institution (CDFI) and Certified B Corp, Capital Plus Financial, has announced the expansion of its strategic relationship with Enhanced Capital Group LLC (“ECG”), the Impact investment solution of P10, Inc. (NYSE: PX), and a new strategic investment from Conversant Capital LLC (“Conversant”).

Key Points: 
  • Crossroads is finalizing a new $150 million debt facility led by Texas Capital Bank (Texas Capital), which is attractively priced at BSBY + 300bps.
  • This facility builds upon the existing relationship with Texas Capital, a bank dedicated to providing capital to underserved areas.
  • Enhanced Capital looks forward to creating additional economic vitality and strengthening community development across the country with Crossroads at an even larger scale."
  • For more information on Enhanced Capital, please visit www.enhancedcapital.com
    Conversant Capital LLC is a private investment adviser founded in 2020.

Crossroads Impact Corp Announces $180 Million Equity Investment from Funds Managed by P10 and Conversant Capital and Expanded Relationship with Enhanced Capital Group to Accelerate Growth

Retrieved on: 
Monday, July 11, 2022
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DALLAS, July 11, 2022 /PRNewswire/ -- Crossroads Impact Corp (OTCQX: CRSS), the parent company of leading Community Development Financial Institution (CDFI) and Certified B Corp, Capital Plus Financial, has announced the expansion of its strategic relationship with Enhanced Capital Group LLC ("ECG"), the Impact investment solution of P10, Inc. (NYSE: PX), and a new strategic investment from Conversant Capital LLC ("Conversant").

Key Points: 
  • Investment funds managed by P10 and managed by Conversant are investing a combined $180 million of equity capital in Crossroads at $10.76 per share, with the ability to commit up to an additional $310 million of total equity capital at the same price within the next 120 days.
  • Crossroads is finalizing a new $150 million debt facility led by Texas Capital Bank ("Texas Capital"), which is attractively priced at BSBY + 300bps.
  • This facility builds upon the existing relationship with Texas Capital, a bank dedicated to providing capital to underserved areas.
  • Enhanced Capital looks forward to creating additional economic vitality and strengthening community development across the country with Crossroads at an even larger scale."

CDBA Announces New $1 Billion CDFI Tax Credit Bill to Boost Main Street Investment in Underserved Communities

Retrieved on: 
Thursday, July 7, 2022
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On June 16, 2022, The Community Development Bankers Association (CDBA) announced a new tax credit bill with U.S. Sen. Mark R. Warner (D-VA), joined by Sens.

Key Points: 
  • On June 16, 2022, The Community Development Bankers Association (CDBA) announced a new tax credit bill with U.S. Sen. Mark R. Warner (D-VA), joined by Sens.
  • In July of 2020, Warner teamed up with a bipartisan group of Senators to introduce the Jobs and Neighborhood Investment Act .
  • As the national trade association for community development banks, Community Development Bankers Association (CDBA) is proud to have led the advocacy efforts for the new CDFI Tax Credit Investment Act.
  • This tool will be a game changer by attracting private capital to Main Street where its needed most.''

Community Reinvestment Fund, USA Announces CEO Transition

Retrieved on: 
Tuesday, July 5, 2022
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Founded in 1988, CRF pioneered the development of a secondary market for community and economic development loans.

Key Points: 
  • Founded in 1988, CRF pioneered the development of a secondary market for community and economic development loans.
  • I am incredibly proud of CRFs contributions and remain committed to our important work while facilitating a smooth leadership transition process.
  • Founded in 1988, Community Reinvestment Fund, USA (CRF) is a national non-profit organization with a mission to improve lives and strengthen communities through innovative financial solutions.
  • CRF has injected more than $3.5 billion to stimulate job creation and economic development and support community facilities.

Feeding America Announces New Members Elected to National Board of Directors

Retrieved on: 
Friday, July 1, 2022
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CHICAGO, July 1, 2022 /PRNewswire/ -- Feeding America, the nation's largest domestic hunger-relief organization, announced the election of new members to the Feeding America National Board of Directors.

Key Points: 
  • CHICAGO, July 1, 2022 /PRNewswire/ -- Feeding America, the nation's largest domestic hunger-relief organization, announced the election of new members to the Feeding America National Board of Directors.
  • Mensah was previously elected to fill an unfinished six-month term on Feeding America's National Board and has now been elected to serve a full two-year year term.
  • As their two-year terms begin, the new Board members will be welcomed by Feeding America's new incoming National Board Chair Kelvin H. Taketa , who has served on the Board since 2016.
  • The Feeding America Board of Directors is made up of a diverse group of individuals from both private corporations and non-profits.

Nonprofit Finance Fund Selects Aisha Benson as CEO and President

Retrieved on: 
Wednesday, June 29, 2022
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NEW YORK, June 29, 2022 /PRNewswire/ --Nonprofit Finance Fund is thrilled to announce Aisha Benson as its next CEO and President.

Key Points: 
  • NEW YORK, June 29, 2022 /PRNewswire/ --Nonprofit Finance Fund is thrilled to announce Aisha Benson as its next CEO and President.
  • She will be NFF's third permanent CEO and President in its 42-year history.
  • Benson serves on several key industry boards, including the Opportunity Finance Network, NMTC Coalition (Board Chair) and New York CDFI Coalition (founding member and Vice President).
  • Nonprofit Finance Fund (NFF) is a nonprofit lender, consultant, and advocate.

Wells Fargo Foundation Aims to Grow Diverse Housing Developers with $40 Million Donation

Retrieved on: 
Wednesday, June 29, 2022
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To help address this gap, the Wells Fargo Foundation announced Growing Diverse Housing Developers, a $40 million grant initiative focused on expanding the growth and success of real estate developers of color, including Black- and Latino-owned firms.

Key Points: 
  • To help address this gap, the Wells Fargo Foundation announced Growing Diverse Housing Developers, a $40 million grant initiative focused on expanding the growth and success of real estate developers of color, including Black- and Latino-owned firms.
  • View the full release here: https://www.businesswire.com/news/home/20220629005256/en/
    Real estate developers Dr. Gina Merritt and Julissa Carielo join the Wells Fargo Foundation Growing Diverse Housing Developers program.
  • Through Growing Diverse Housing Developers, we can help strengthen diverse housing developers, enabling them to grow their businesses, and at the same time, offer communities more affordable options for renters and homeowners.
  • With a $10 million grant from Wells Fargo, RDF launched the J. Tommy Espinoza Growing Diverse Housing Developers Fellowship , a four-year professional development program for Latino and Black-led real estate firms.

Excite Credit Union, Latino Business Foundation Silicon Valley, and SOMOS Mayfair Celebrate Grand Opening of Community-Serving Hub

Retrieved on: 
Monday, June 27, 2022
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SAN JOSE, Calif., June 27, 2022 (GLOBE NEWSWIRE) -- Excite Credit Union (Excite), Latino Business Foundation Silicon Valley (LBFSV), and SOMOS Mayfair (SOMOS) will participate in the grand opening of Quetzal Gardens on Wednesday, June 29.

Key Points: 
  • SAN JOSE, Calif., June 27, 2022 (GLOBE NEWSWIRE) -- Excite Credit Union (Excite), Latino Business Foundation Silicon Valley (LBFSV), and SOMOS Mayfair (SOMOS) will participate in the grand opening of Quetzal Gardens on Wednesday, June 29.
  • Coming together for this grand opening is an opportunity to celebrate the neighborhoods culture and history and to be part of the vibrancy of East San Jose, said John Hogan, Vice President of Community Relations for Excite Credit Union.
  • Excite Credit Unions La Esquina de Quetzal branch will offer a full range of financial services, including checking, saving, personal loans, retirement planning, business services, and more.
  • The Latino Business Foundation of Silicon Valleys mission is to provide empowering resources to existing and future leaders in the business community through long-lasting learning and support.

Oportun named to the 2022 Greater Bay Area Top Workplaces

Retrieved on: 
Monday, June 27, 2022
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SAN CARLOS, Calif., June 27, 2022 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-drivenfintech and digital banking platform, today announced that it has been named to the 2022 Greater Bay Area Top Workplaces by San Francisco Bay Area Top Workplaces and the San Francisco Chronicle.

Key Points: 
  • SAN CARLOS, Calif., June 27, 2022 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-drivenfintech and digital banking platform, today announced that it has been named to the 2022 Greater Bay Area Top Workplaces by San Francisco Bay Area Top Workplaces and the San Francisco Chronicle.
  • Oportun has been named a top place to work by regional or national publications in each of the last eight years.
  • The Greater Bay Area Top Workplaces list is based solely on employee feedback gathered through a survey that measures multiple aspects of workplace culture, including alignment, execution, and connection.
  • Oportun employees throughout its Bay Area offices and retail locations participated in the survey.