The African American Alliance of CDFI CEOs (AAACDFI) announced it received a $75,000 grant from Truist Financial Corporation to provide program and operational support.
“We’re so grateful for the generous support of Truist,” said Lenwood V. Long, Sr., CEO of AAACDFI. “The grant will help fund part of a larger effort to implement our strategic plan, which will lay out an ambitious endeavor of the Alliance over the next several years to address the racial wealth gap.”
The AAACDFI is the only organization leveraging African American CDFI CEOs’ decades of expertise, relationships, and intellectual capital to change the odds and outcomes for African Americans in underserved communities across America.
“We’re pleased to partner with the African American Alliance of CDFI CEOs to increase the capacity and sustainability of Black-owned businesses through community development financial institutions,” said Anthony Weekly, Chief Community Reinvestment Act and Community Development Officer at Truist. “At Truist, we believe all people should have equitable opportunities to thrive, and we specifically invest in communities that have been historically overlooked to help bridge the wealth gap.”
About African American Alliance
The African American Alliance of CDFI CEOs is a coalition of 52 CEOS of Black-led CDFI loan funds, credit unions, and venture capital funds. Since 2018, AAACDFI represents all 50 states and the District of Columbia. We are the only organization leveraging African American CDFI CEOs’ wealth of expertise, relationships, and intellectual capital to change the outcomes for African Americans in under-served communities across America. Our members are uniquely positioned to address issues related to housing and access to capital for African American populations and communities.
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has a leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business, and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $518 billion as of March 31, 2021. Truist Bank, Member FDIC. Learn more at Truist.com.