60+ NYS CDFIs earn more than $80M as 
U.S. Treasury awards CDFI Rapid Response Program Funds  

The U.S. Department of the Treasury awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFIs). The grants will be made through Treasury’s CDFI Rapid Response Program (CDFI RRP) and will provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in underserved communities.

“In serving places that the financial sector historically hasn’t served well, CDFIs lift our whole economy up. We know that for every dollar injected into a CDFI, it catalyzes eight more dollars in private-sector investment, meaning that today’s announcement might lead to an additional $10 billion in investment,” said Secretary Janet Yellen. “The President and the Vice President ran on a very ambitious agenda – ‘Build Back Better,’ unwinding systemic racism, creating an economy that works for everyone. I believe this is what that looks like in practice. By channeling more capital into CDFIs, we are translating those ideals into reality.” 

View the list of NYS CDFIs funded.

 

NYS CDFI Investor Club - CDFI Friday, July 2

We're excited to present our second NYS CDFI Quarterly Investor Club event with our partner, Impact Finance Center, on Friday, July 2. This event differs from our monthly informational webinars in that we feature an investor panel, a CDFI panel, AND a series of quick pitches from NYS CDFIs.

This is a great opportunity for our members to highlight the work they're doing in front of an audience of prospective investors - those who watch in real time, as well as those who participate in Impact Finance Center's Impact Investing Institute. The non-profit Institute identifies, trains, and activates individuals and organizations to become impact investors, helping them better align their assets with their values. They are working to move more money to social ventures by creating the infrastructure for a Nationwide Impact Investing Marketplace by 2030 - and NYS CDFI Coalition members are on the list! 

Your support of the NYS CDFI Coalition helps us explore new ways of attracting capital to our members, and we're excited about some early interest from investors. We hope you can join us! If you have questions, drop me a line!

Be well,

Colleen M. Ryan
NYS CDFI Coalition
 

Investor Club 
https://www.eventbrite.com/e/new-york-state-cdfi-investor-club-tickets-144060247077

• 12:00 Welcoming remarks  
  • Colleen Ryan (New York State CDFI Coalition)
  • Dr. Stephanie Gripne (Impact Finance Center)  
• 12:15 Investor Panel 
  • Nwamaka Agbo, Kataly Foundation
  • Ben Bynum, Colorado Health Foundation
• 1:00 CDFI Panel - Western NY Special! 
  • Javier Zapata, PathStone (Rochester)
  • Kerry Quaglia Home Headquarters (Syracuse)
  • Yanush Sanmugaraja, WEDI (Buffalo)
  • Moderator: Brian Blake
    Public Policy Director, Community Development Bankers Assoc.
• 1:35 Fast Pitches from 7-9 NYS CDFIs
  • List in formation

Many Hands Make Light Work! 

Introducing a new resource for NYS CDFI Coalition Members

All Hands Zoom
Friday, July 16 
12:00 noon - 1:00 p.m.

During the pandemic, the NYS CDFI Coalition board got into a cadence of meeting by Zoom once a week at lunchtime.

These Friday Noon Zooms gave CDFI executives from across the state the chance to compare notes, express frustration, and collaborate on some of the biggest challenges of their careers.

At least one of them has noted that membership in the CDFI Coalition was a lot cheaper than therapy!

We thought it would be a good idea to extend this opportunity to our members, and convene a meeting every other month, where we could share business updates; celebrate milestones and the people who made them possible; and give everyone a chance to ask questions.

Members - please watch your inbox for the registration link, and we'll hope to see you on Friday, July 16 at noon on our first NYS CDFI Coalition All Hands Zoom. Let us know what you'd like to talk about with this short survey! 

Not sure if you're a member? Check your membership status here!