Jeannine Jacokes’ Post

🪂 As we enter into 2025, the National Bankers Association has developed a list of priorities for the year to support our vital work for mission-driven banks. We are calling them the 5️⃣ P's. 1. Policy Advocacy: We’ll continue advocating for policies that support MDIs and CDFIs, promoting capital access and sustainable growth. 2. Programs for Impact: Our programs, from the signature conference to our exclusive Coffee & Conversations series, will connect thought leaders, policymakers, and stakeholders, equipping them with the insights and resources to drive growth. 3. Profile Raising: We’ll amplify the voice of MDIs by sharing research and impact stories, highlighting their essential role in economic empowerment and financial access. 4. Strategic Partnerships: We’re focused on building partnerships across public, private, and philanthropic sectors to modernize and strengthen MDIs, unlocking new growth opportunities. 5. Profit & Sustainable Growth: Our priority is to help MDIs increase profitability, reduce costs, and invest in scalable solutions, ensuring they thrive and make a lasting impact in their communities. www.nationalbankers.org #NationalBankersAssociation #MissionDrivenBanks #PolicyAdvocacy #FinancialInclusion #CommunityDevelopment #EconomicEmpowerment #MDIs #CDFIs #SustainableGrowth #StrategicPartnerships

🎉 Celebrating 30 Years of CDFI Impact! 🎉 This week, we proudly celebrate the 30th anniversary of the CDFI Fund, a cornerstone of financial justice and opportunity in America, alongside our re-certification as a Community Development Financial Institution (CDFI). The bipartisan Riegle Community Development Act was signed into law thirty years ago, establishing the CDFI Fund. Since then, CDFIs have collectively invested $216 billion in communities, creating or retaining 5.3 million American jobs! 💼 At Access Plus Capital, our re-certification reaffirms our commitment to these impactful initiatives. As the Central Valley’s CDFI, we’ve deployed over $60 million to more than 1,000 small businesses from Bakersfield to Sacramento, empowering entrepreneurs in historically underserved communities to turn their dreams into reality. 🌟 Our mission is clear: to eliminate economic barriers and provide fair, equitable investment in the communities that need it most. As we look ahead, we are more dedicated than ever to advancing financial opportunity and justice for all. Here’s to the next 30 years of empowering communities, creating jobs, and fostering economic growth! 💪 #FirstToBelieve #FinanceJustice #OpportunityForAll #CDFIFund #CDFI #ImpactInvesting #CreateJobsForUSA #OpportunityEconomy #AccessPlusCapital

In 1994, Congress created the CDFI Fund within the U.S. Department of Treasury to provide critical funding and legitimacy to CDFIs. This marked a transformative shift in how federal programs supported community development, investing directly in CDFIs to grow their balance sheets and operational capacity. By 1996, the Fund awarded $48.3 million to 69 organizations, laying the groundwork for CDFIs to scale and address the unique needs of underserved communities. This innovative approach empowered local solutions, allowing CDFIs to drive real economic revitalization at the community level. Watch CDFIs Making History which highlights the efforts and intentions behind creating the CDFI Fund, from the perspectives of early CDFI leaders. https://lnkd.in/egMUmxVs #40DaysToOFN40

Today marks the 30th anniversary of the Community Development Financial Institutions Fund (CDFI Fund), a significant milestone in the effort to promote economic inclusion for underserved communities. In our office hangs a signed copy of the Riegle Act—the legislation that authorized the CDFI Fund in 1994. This copy was given to our CEO, Jeannine Jacokes, by Sen. Don Riegle, Chairman of the Senate Banking Committee at the time, in recognition of her leadership as the lead Senate staffer on the CDFI Fund’s authorizing statute. It represents both the legacy of the Fund and the ongoing need for inclusive financial services. The CDFI Fund has played a critical role in revitalizing low-income communities, deploying billions of dollars to create jobs, finance affordable housing, and support small businesses. Partners for the Common Good, founded in 2002, has worked closely with the CDFI Fund to leverage these resources, funding over $201 million in loans to help finance community facilities, affordable housing, and local businesses. Looking ahead, we remain steadfast in our commitment to fostering inclusive growth and ensuring that all communities, regardless of geography or economic standing, have access to the capital they need to thrive. #CDFIFund #EconomicInclusion #CommunityDevelopment #FinancialEquity #Partnership #Impact

Our community development financial institution (CDFI), Fondo Adelante, is honored to be the recipient of a generous grant and capital investment from the Opportunity Finance Network Finance Justice Fund to help support more Latino-owned and ran small businesses in San Francisco’s Mission District. The Finance Justice Fund is a socially responsible investment aiming to bring $1-billion in capital from corporate and philanthropic partners to individuals and communities in America’s most underestimated and underserved by mainstream finance. Fondo Adelante is a vehicle for MEDA to provide access to capital to small-business owners who cannot get a loan through a traditional bank with service areas across all nine Bay Area counties (Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma). CDFIs have a pivotal role to play in advancing social, economic, and racial justice. More information on Fondo Adelante -> https://lnkd.in/gYBJwDJm More information on Opportunity Finance Network Finance Justice Fund -> https://lnkd.in/gxfznGky #MEDA #SanFrancisco #SmallBusiness #FondoAdelante #CDFI #FinancialJustice

Yesterday, September 23, 2024, we recognized not only a special day but an important milestone for America. We celebrated the 30th anniversary of the creation of the Community Development Financial Institutions Fund (CDFI Fund). On September 23, 1994, President Clinton signed into law H.R. 3474, the Riegle Community Development Act, the bipartisan legislation that created the Fund. The CDFI Fund has been foundational to community development finance; since its inception, the Fund has awarded more than $7 billion to CDFIs and $76 billion tax credits to capitalize community development projects and community investment. Today, there are more than 1,400 certified CDFIs. Since 2015, CDFIs have invested at least $216 billion in communities across the country, helping to create or retain 5.3 million American jobs. As we celebrate 30 years of the CDFI Fund’s impactful investment, it’s also my honor to share my election as Chair of the Community Development Advisory Board, a 15-person federal advisory committee to the CDFI Fund. I thank my fellow Advisory Board members for their support and look forward to collaborating with them to provide key insights to the CDFI Fund for the continued success of CDFIs, the industry, and more importantly, the communities we serve. Read the announcement here: https://lnkd.in/geR4Sqzu U.S. Secretary of the Treasury Janet Yellen joined the Community Development Advisory Board meeting last week and spoke of the deep impact of, and need for, the CDFI Fund and community development finance. Read her remarks here: https://lnkd.in/gHjf__eF The future of the industry could not be more bright, and I could not be more excited for the future of the CDFI Fund under the leadership of Pravina Raghavan in charting the next 30 years. The creation of the CDFI Fund is a key moment for America and the history of our industry, a history that has made us for this moment and the road ahead. We appreciate the critical partnership of the CDFI Fund in advancing opportunity in communities that need it most. Opportunity Finance Network #OFN40 #CDFIFund #CDFI #CDFIs #ImpInv #ImpactInvesting

As we commemorate 30 years of the Community Development Financial Institutions Fund (CDFI Fund), we reflect on the incredible impact it has had on underserved communities across the nation. In our office hangs a signed copy of the Riegle Act—the historic legislation that established the CDFI Fund, authorized in 1994. This copy was gifted to our CEO, Jeannine Jacokes, by Sen. Don Riegle, who was serving as Chairman of the Senate Banking Committee at the time, in recognition of her role as lead Senate staff on the CDFI Fund’s authorizing statute. It stands as a powerful reminder of the vision and leadership that brought the CDFI Fund into existence and the transformative work it has enabled. Since its creation, the CDFI Fund has awarded more than $3.8 billion in grants, loans, and equity investments, helping create jobs, build affordable housing, and promote economic growth. Through this partnership, CDBA and its member banks, which began in 2002, have leveraged these resources to extend critical financial services to communities historically excluded from the financial system. The Fund’s support has enabled mission-driven banks to direct billions of dollars back into disenfranchised communities, creating real and lasting change. As we look to the future, CDBA remains committed to expanding access to capital and empowering underserved communities, ensuring that the next 30 years of the CDFI Fund are as impactful as the first. #CDFIFund #CommunityDevelopment #FinancialInclusion #EconomicOpportunity #Leadership

BMO's latest Real Financial Progress Index reveals that the spirit of giving remains strong in Canada despite the current economic conditions. Read advice from Lydia Potocnik, Head, Estate Planning & Philanthropic Advisory Services, BMO Private Wealth Canada on how working with a professional can help you develop a meaningful giving strategy: http://spr.ly/6006QZh9e #ProudToWorkAtBMO

Thanks to U.S. Department of the Treasury and Community Development Financial Institutions Fund (CDFI Fund) for hosting us on Monday to discuss the Access program and how states can leverage SSBCI funding to support our country's smallest small businesses. It was a great discussion with TruFund Financial Services’ James H. Bason, Goldman Sachs’ Sherry Wang, CDFI Fund’s Pravina Raghavan, and New Jersey Economic Development Authority (NJEDA)’s Christina Fuentes. As our CEO Jennifer Pryce shared: "It's kind of a program in a box. We've tried to make it as easy as possible for states to come in and hit go right away."  "We have four states with us right now and there is no limit to how many states we can have. This just scales and grows beautifully." Jenn also gave a shout out to our supporters, Citi Foundation and Wells Fargo Foundation: "I want to call out some critical support that came from Citi Foundation and Wells Fargo Foundation. It's unusual that you get grant money to just figure it out and they gave us that type of capital... So, we're really grateful for that moment in time because it let us all as developers of this program work together to get to where we are today." If you are looking to get a state-based program up and running, learn more about Access here and reach out to chat! https://bit.ly/483PWh8 #ImpactInvesting #SmallBusiness

At today’s Freedman’s Bank Summer Symposium, Self-Help Credit Union highlighted their work in supporting access to affordable childcare through small business lending, an outstanding example of the incredible impact of $2.2 billion in Emergency Capital Investment Program (ECIP) investments in community development credit unions. Treasury’s 2023 Investing for Impact Report released today shows that CDCUs that received ECIP investments made more than $4.3 billion in deep impact loans, reaching the most underserved people and communities in 2023, and made an additional $6.1 billion in loans benefitting low- and moderate-income people and communities as well as people and communities of color. For more on CDCUs and ECIP, check out Cathi Kim’s piece (https://ow.ly/HgKe50SAL9h) in CUES CU Management highlighting the work of two high-impact CDCUs and how ECIP helped them deepen their impact in their communities. Watch: https://ow.ly/sQJ550SAL9j