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Vol. I - Issue 10

Making Change: NYS CDFIs Pledge to Address Economic Inequity

From 246 years of chattel slavery to the Black Codes of the Jim Crow Era to redlining, opportunities to build and pass on wealth have historically been limited for many families.

While the civil rights reforms of the 1960s were an important step in the right direction, the public policies, institutional practices, and cultural representations of structural racism continue to block the road to true economic equity.

Community Development Financial Institutions across New York State are ready to lead the way.

  • With more than thirty years of documented success in providing capital to low income communities, we have a legacy of success to draw upon.
  • As the need for our work becomes more evident than ever, we are striving to keep up with the expectations of our clients and the needs of the underserved.
  • Through the power of collaboration, we have the potential to transform our state as well as the lives of the people who work and live here.

A global pandemic and social unrest have brought this country’s wealth gap into sharp focus. 

New York State’s CDFIs are poised to provide innovative financing to foster vibrant, healthy and just communities across the state.

Over the next few days, we'll be reaching out to members of the NYS CDFI Coalition for help in drafting a pledge to address economic inequity. We hope you'll join us in developing a meaningful statement and a plan to manifest it in our respective institutions. 

Not a member? 
Please consider joining the
NYS CDFI Coalition today! 

PPP Has Reopened - New Deadline August 8 

As of last week, about $130 billion remained of $660 billion approved so far for the subsidy program, which provides direct aid to businesses harmed by the coronavirus pandemic, which slammed the economy as consumers and workers were forced to stay at home through much of spring.

The subsidies come in the form of federal loans that can be forgiven if businesses follow rules such as utilizing 60% of the loan for payroll costs. The loans have been a lifeline to more than 4 million businesses.

Shelterforce Seeks CEO/Publisher

Flexible location; Montclair, New Jersey region preferred

Shelterforce seeks a Chief Executive Officer/Publisher (CEO/Publisher) to advance its mission, grow its capacity, audience, and influence, and strategically and sustainably guide the organization through an evolving and dynamic media landscape.

About Shelterforce

Shelterforce is the nation’s leading source of reporting on the affordable housing and community development field. Launched in 1975, Shelterforce is a digital publication with a growing and devoted readership. A nonprofit 501(c)3 independent media organization, Shelterforce has a mission to realize a society where everyone is able to live in a healthy, just community with access to sufficient opportunity to realize their potential. Shelterforce supports those working toward healthy, just communities by publishing independent content that informs them, challenges them, connects them, inspires them, and advocates for their work to others.

For more information visit https://shelterforce.org/job/publisher/

Share Your Events! 

Many NYS CDFIs have served as Financial First Responders during the COVID-19 pandemic. Now, as we begin to #BuildBackBetter, the NYS CDFI Coalition has launched an Event Calendar to help support our members, borrowers and communities. 

We're providing links to online workshops, webinars and panel discussions presented by experts around the state and country.

Don't worry if you missed a live session, many are archived on video so you can watch when it's convenient to you!

Upcoming events include (starting today at noon!) a 4-part series called "Money Talks," focused on personal finance and credit, financial organization and routines, financial independence, being your own boss, and leaving a legacy for your family. 

Want to share your event with the CDFI Community? Send a link to info@nyscdfi.org for consideration. 

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Our Mission

Our mission is to position CDFIs as the most effective strategy and policy tool to address issues of financial inclusion, housing access and economic opportunity in New York State. Please visit our website to learn more.
 
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