For Immediate Release
May 1, 2023
Community Development Bankers Association joins the African American Alliance of CDFI CEOs Community Builders of Color Coalition
CDBA Advocates for Environmental Justice in Marginalized Communities
ORLANDO, FL – The African American Alliance of CDFI CEOs (The Alliance) is excited to announce that Community Development Bankers Association (CDBA) has joined the Community Builders of Color Coalition (The Coalition). Together with CDBA, The Alliance and other Coalition members will fight for equity in the EPA’s administration of the Greenhouse Gas Reduction Fund (GGRF), advocating that at least 40% of awarded capital benefit disadvantaged communities, mainly minority and low-income populations that have been disproportionately impacted by the effects of climate change.
The Coalition and CDBA serve as voices and champions of community financial institutions dedicated to ensuring communities of color have full and fair access to equitable financial tools to build prosperity and wealth. CDBA and Coalition members will work together to promote equitable access and efficient implementation of GGRF in disadvantaged communities as part of The Coalition.
“CDBA’s extensive national presence and unwavering dedication to promoting economic justice and enhancing financial inclusion in underprivileged communities resonates with our own mission and enriches the collective expertise of Coalition members,” said Lenwood V. Long, Sr., President and CEO of The Alliance.
“CDBA is excited to join the Community Builders of Color Coalition to help ensure the GGRH is inclusive, diverse, accountable, and fully deployed in service to the low-income and disadvantaged communities (LIDCs) and borrowers most negatively affected by climate change. Mission-focused, depository community lenders, such as CDFI-certified and MDI banks, are a large and well-scaled cohort with extensive experience and demonstrated accountability leveraging capital to meet the needs of LIDCs. CDFI, MDI and mission-focused banks will help advance the interests of the Coalition and accelerate the deployment of GHGRF dollars to achieve the goals of the Inflation Reduction Act (IRA),” said Jeannine Jacokes, CEO, CDBA.
The Coalition is comprised of 16 organizations including: African American Alliance of CDFI CEOs, African-American Credit Union Coalition, The Chisholm Legacy Project, Community Development Bankers Association, Hip Hop Caucus, Inclusiv, National Association for Latino Community Asset Builders, National Urban League, National Bankers Association, Native CDFI Network, National CAPACD, Prosperity Now, Oweesta Corporation, Opportunity Finance Network, US Black Chamber, and Urban Strategies, Inc.
To learn more about The Coalition and the Alliance’s Greenhouse Gas Reduction Fund advocacy efforts, please visit www.aaacdfi.org/greenhouse-gas-reduction-fund/.
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About The African American Alliance of CDFI CEOs
The African American Alliance of CDFI CEOs (The Alliance) is a coalition of more than 75 CEOs of Black-led Community Development Financial Institutions (CDFIs), comprising loan funds, credit unions, venture capital firms, and non-profit developers. Since 2018, The Alliance’s network collectively services all 50 states and the District of Columbia. As a result, members are uniquely positioned to address issues related to housing and access to capital for African American populations and communities. Learn more about The Alliance and its programs at www.aaacdfi.org.
Community Development Bankers Association
The Community Development Bankers Association is the voice and champion of the community development banking movement. CDBA and its member banks work to make the banking industry a force for good by collectively promoting financial inclusion and creating economic opportunity in the nation’s most economically distressed rural and urban communities. Visit www.cdbanks.org.
Media Contacts:
Alisha Brown
African American Alliance of CDFI CEOs
[email protected] / 901-849-0820
Brian Blake
Community Development Bankers Association
[email protected] / (202) 689-8935 ext. 225
