This article summarizes the lessons Community development financial institutions (CDFIs) have learned over the past two and a half decades, and outlines the strategies they might pursue to best meet the needs of underserved people and markets in the year
Over the past twenty-five years, Community development financial institutions (CDFIs) have worked from the margins to help finance thousands of successful businesses and projects in low-income and minority markets. During this time, they have also constantly striven to change mainstream ideas and assumptions about financing community development. In the midst of continuing shifts in the financial services industry, CDFIs today stand at a crossroads. As they look toward the future, industry professionals are grappling with how they can better relate to conventional systems and structures, develop new and innovative products and services, and expand their role as effective intermediaries and advocates. Mark Pinsky discusses these issues, and offers recommendations on how CDFIs can remain viable and best serve the needs of low income and minority communities in the years to come.
Thanks to Kurt Sommer
FULL STORY: Taking Stock: CDFIs Look Ahead After 25 Years of Community Development Finance
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