world of Community Development Financial Institutions (CDFIs) includes
three groups of people:
lenders, a new breed of grassroots bankers who are taking
risks that traditional financial institutions won't take.
borrowers, people who live in distressed and neglected communities
who want the chance to share in America's booming economy.
The investors, individuals and groups who lend their own
money to CDFIs so the CDFIs can, in turn, lend to people in need.
this Web site, you will have a chance to meet these people, and
learn how they work together toward the goals of helping poor
families create wealth and building healthy communities.
help poor families create wealth:
Wealth is the ownership of things that have permanent value. Wealth
gives people something to build onsuch as collateral to start
a businessand something to fall back on in times of economic difficulty
or illness. When predicting the future success of children, studies
show that family wealth is more important than family income. Even
if you make a lot of money, you don't have wealth if you spend it
all on entertainment and consumer goods. Most Americans build wealth
by buying a home or starting a business.
CDFIs help build healthy communities:
Individual wealth is only one measure of the health of a community.
Availability of health care, recreational facilities, day care centers,
and other social services are also important. Grassroots organizations
that can deal effectively with government, banks, and other powerful
institutions also contribute to a healthy community.
not about helping people expand their hobbies into more pin
money. We're about helping poor families create wealth. We
want whole families and multiple groups of families to be
supported by the businesses we help start."
Patty Grossman, Cascadia Revolving Fund