News and Events Type: News

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  

The Community Builders of Color Coalition (the Coalition), led by the African American Alliance of CDFI CEOs, welcomes and applauds President Biden’s recent executive order, “Revitalizing Our Nation’s Commitment to Environmental Justice for All.” Environmental injustice has long plagued our country, with low-income communities often suffering disproportionately from the impacts of climate change and pollution. This order is an important step towards addressing these disparities and the latest in a series of pronouncements from the Administration that reinforce their commitment to ensuring every community, regardless of socioeconomic status or background, has access to clean air, clean water, and a healthy environment.

The Coalition is particularly encouraged by the Biden-Harris Administration’s whole-of-government approach, which recognizes the pursuit of environmental justice as a duty of all federal agencies. By directing federal agencies to prioritize environmental justice in their decision-making processes, this order ensures that the federal government’s efforts are coordinated, comprehensive, and effective in addressing the systemic challenges faced by communities disproportionately impacted by pollution and climate change.

The Coalition applauds the Biden-Harris Administration’s efforts to advance environmental justice through the Justice40 Initiative, the new Environmental Justice Scorecard, and new steps to combat plastic pollution. These initiatives demonstrate a genuine commitment to addressing the needs of disadvantaged communities and advancing equitable outcomes in environmental policy. We also commend the focus on scientific research, data, and transparency. By promoting the latest science, identifying, and addressing gaps in research, and making information more accessible to the public, the administration is intentionally encouraging the development of innovative technologies and practices that benefit not only the environment but also the communities that have been most adversely affected by pollution.

We commend President Biden for his leadership and vision in promoting environmental and climate justice in our country. The efforts of the administration to prioritize environmental justice will have positive, far-reaching effects for years to come, and the Coalition looks forward to being a valued partner of government as we strive to advance environmental and racial equity across the U.S.

We are excited to share that 39 Alliance members have been awarded grants with an economic impact of $101,230,406 through the CDFI Equitable Recovery Program in response to the economic impacts caused by the COVID-19 pandemic.  

The CDFI Equitable Recovery Program aims to address the disproportionate impact of the pandemic on communities of color, low-income populations, and disadvantaged communities. As recipients of these funds, members will be able to sustain and broaden their initiatives towards enhancing access to capital, promoting affordable housing, boosting internal staff capabilities, providing technical assistance, and fortifying their financial position. As a result, they will help generate employment opportunities, stimulate economic growth, and aid in the revival of low-income and marginalized communities that have been severely impacted. 

We want to extend our warmest congratulations to the 39 recipients for their outstanding achievements and tireless efforts to uplift their communities. We are proud to have you as part of the African American Alliance of CDFI CEOs, and we look forward to witnessing the transformative impact of your work in the coming months and years. 

Please join us in celebrating this milestone and acknowledging the vital role that Black-led CDFIs play in the ongoing recovery and revitalization of our communities. 

Once again, congratulations on this well-deserved recognition! 

CDFI Equitable Recovery Program Award Recipients: 

Bronze Valley Corp, People Trust, Southern Bancorp Capital Partners, AmPac Tri-State CDC Inc., Pacific Coast Regional, Small Business Development Corp., Vermont-Slauson LDC, Inc., Washington Area Community Investment Fund, True Access Capital Corporation, Black Business Investment Fund, Inc., Albany Community Together, Inc., The Chicago Community Loan Fund, Greenwood Archer Capital, Inc., The Housing Partnership Fund, Inc., Baltimore Community Lending, Inc., Enterprise Community Loan Fund, Inc., Prosperus Detroit Micro Lending, Neighborhood Development Center, Hope Enterprise Corporation, Hope Federal Credit Union, Institute Capital, Inc., Omaha 100, Incorporated, Greater Jamaica Local Development Company, Inc., Harlem Entrepreneurial Fund, LLC, Local Initiatives Support Corporation, Nonprofit Finance Fund, TruFund Financial Services, Inc., Upper Manhattan Empowerment Zone Development Corporation, Tulsa Economic Development Corporation, CommunityWorks, River City Capital Investment Corporation, Appalachian Community Capital Corporation, Capital Impact Partners, Virginia Community Capital, Inc., Legacy Redevelopment Corporation, Northwest Side Community Development Corporation, New Jersey Community Capital, Metropolitan Economic Development Assoc.

I am thrilled to announce that we recently welcomed two talented individuals to our team. Deneine Powell as the Environmental & Climate Program Director supporting our environmental/climate justice work, and Ariana Miller as our Black Renaissance Fund Director. Their expertise and passion for our mission make them valuable additions to our team. 

At the Alliance, we are committed to promoting economic opportunity and prosperity in communities that have been historically marginalized. Our work is crucial to advancing economic justice, and we are proud to be at the forefront of this important work. As new members of our team join our organization, we continue to seize the opportunity to make a significant impact on Black-led CDFIs and the communities they serve. 

We are excited to welcome  Deneine and Ariana to our team, and we look forward to their contributions to our important work. We believe that they will help us to continue to elevate our work, and we are excited about what the future holds for the Alliance. 

Thank you for your continued support. 

Be Steadfast, 

Lenwood V. Long, Sr. 

For Immediate Release

March 27, 2023 

The African American Alliance of CDFI CEOs Welcomes Opportunity Finance Network to the Community Builders of Color Coalition

Opportunity Finance Network Joins 15-Member Coalition Dedicated to Urging the EPA to Prioritize Equity in Greenhouse Gas Reduction Fund 

ORLANDO, FL – The African American Alliance of CDFI CEOs (The Alliance) is proud to announce that Opportunity Finance Network (OFN) has joined the Community Builders of Color Coalition (The Coalition). Together, these organizations 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 GGRF is a first-of-its-kind program that will provide competitive grants to mobilize financing and private capital for clean energy and climate projects that reduce greenhouse gas emissions. The Coalition will play a crucial role in advocating for equitable access and effective implementation of GHGRF in underserved communities. 

“The Coalition is uniquely positioned to leverage the expertise of multiple organizations devoted to ensuring the greatest possible impact in low-income and disadvantaged communities,” said Lenwood V. Long, Sr., President and CEO of The Alliance. “OFN’s commitment to economic justice and advancing financial inclusion in underserved communities aligns with our mission, and we are thrilled to have them join.”

“We cannot squander this opportunity to unite economic justice and environmental justice,” said Beth Lipson, OFN Interim President and CEO. “OFN is pleased to join this coalition of allied organizations to advocate for equity in the Greenhouse Gas Reduction Fund.”

The growth of The Coalition is and will be vital to amplifying the voices of community financial institutions, such as CDFIs, MDIs, credit unions, and mission focused loan funds, and the communities they serve.  

To date, The Coalition is comprised of 15 organizations including: African American Alliance of CDFI CEOs, African-American Credit Union Coalition, The Chisholm Legacy Project, Community Development Bankers Association, 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 http://www.aaacdfi.org. 

About Opportunity Finance Network

Opportunity Finance Network (OFN) is a leading national network of more than 370 community development financial institutions (CDFIs), specialized lenders that provide affordable, responsible financial products and services in low-income rural, urban, and Native communities nationwide. As a trusted intermediary between CDFIs and the public and private sectors, OFN works with its partners – banks, philanthropies, corporations, government agencies and others – to create economic opportunity for all by strengthening and investing in CDFIs. Since its founding in 1986 and through 2020, the network has originated $91.2 billion in financing in rural, urban, and Native communities, helping to create or maintain more than 2.2 million jobs, start or expand 535,550 businesses and microenterprises, and support the development or rehabilitation of more than 2.2 million housing units and more than 13,270 community facility projects. Learn more about OFN and its programs at ofn.org.

Media Contacts:

Alisha Brown

The African American Alliance of CDFI CEOS

[email protected] / 901-849-0820

Lisa Chensvold

Opportunity Finance Network

[email protected] / 202-516-8238

On behalf of the African American Alliance of CDFI CEOs, I am delighted to extend our warmest congratulations to Harold B. Pettigrew Jr. on his appointment as the CEO of the Opportunity Finance Network (OFN). As an esteemed member of the African American Alliance of CDFI CEOs, Pettigrew’s exemplary leadership and commitment to community economic development have left a lasting impact on the communities he serves.

This is a pivotal moment for the CDFI industry, and we are extremely proud to see one of our own members assume the helm of OFN, a prominent organization dedicated to serving CDFIs across the nation while promoting economic and social justice. Pettigrew’s appointment signifies not only his outstanding capabilities but also the recognition of the vital role that CDFI leaders play in driving positive change in the financial sector.

Once again, congratulations to Harold B. Pettigrew Jr. on this well-deserved appointment.

We eagerly anticipate the positive impact his leadership will bring to OFN and the broader CDFI industry.

Be Steadfast! 

Lenwood V. Long, Sr.

President & CEO, African American Alliance of CDFI CEOs 

Supporting the national Fund’s mission to promote economic equity & create catalytic impact

Orlando, Florida | [February 22, 2023] – The African American Alliance of CDFI CEOs (The Alliance) announced that it has received $5 million in funding from The Rockefeller Foundation to support the Black Renaissance Fund (BRF), a national fund providing patient capital to Black-led Community Development Financial Institutions (CDFIs) and long-term operating support for the Alliance. By enabling Black-led CDFIs to increase their assets with credit enhancements that help fortify their financial position, expand their lending capacity, and reduce interest rates, the Black Renaissance Fund is a vehicle for ensuring more affordable capital reaches Black communities. 

“We are grateful for The Rockefeller Foundation’s support in our mission to advance economic equity and opportunity for Black-led CDFIs,” said Lenwood V. Long, Sr., President & CEO of The Alliance. “The Black Renaissance Fund is crucial in addressing systemic barriers and fosters an ecosystem for increased investments in affordable housing, high- quality job creation, small business support, and community facilities development in marginalized communities served by Black-led CDFIs.” 

While CDFIs have been a vital source of capital for underserved communities for decades, Black communities have historically been underrepresented. Launched in September 2022, the Black Renaissance Fund aims to level the playing field for Black communities.  By providing below market interest rate loans to members of The Alliance at a time when national borrowing rates are already up and could continue to rise, this national loan fund is focused on building wealth and racial equity in Black communities across the United States.  

“CDFIs empower populations underserved by traditional lenders. Despite their critical services, Black-led CDFIs still experience inequitable access to capital, capacity-building resources, and technical assistance,” said Gregory Johnson, Managing Director of the Equity & Economic Opportunity initiative at The Rockefeller Foundation. “Studies have shown that from 2014 to 2017, the assets of white-led CDFIs grew by $21.8 billion, while those of minority-led CDFIs grew by just $682.5 million. This is why support for organizations like The African American Alliance of CDFI CEOs is so critical.”  

The $5 million grant from The Rockefeller Foundation is part of its commitment to the White House Economic Opportunity Coalition, which aims to strengthen the capacity of CDFIs. 

To date, the BRF has raised $17.5 million in funds. The Black Renaissance Fund is currently open to additional investments from other funders.  For more information on how to invest in the Fund, please contact Amber Bond at [email protected] or visit www.aaacdfi.org. 

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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 80+ 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 has represented 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 http://www.aaacdfi.org.     

About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to health care and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.

Media Contacts:

Janice Dsouza

The African American Alliance of CDFI CEOs

[email protected]

+ 910-635-0034

Davina Dukuly

The Rockefeller Foundation

[email protected]

+1 212-852-0000

This Black History Month we are recognizing the contributions of Black Americans and reflecting on the ongoing struggle for racial equity, particularly in the wealth gap. Black communities continue to face discrimination and barriers to economic opportunity. Let’s use this time to educate ourselves, support Black-led organizations and businesses, and work towards closing the racial wealth gap and creating a more equitable society for all.

Stay tuned for how we’re celebrating the past, present and future of Black America this month.

We’ll be spotlighting Alliance members on social media, which can learn more about below.

Kenya McKnight-Ahad: Founder & CEO of the Black Women’s Wealth Alliance

Kenya McKnight-Ahad is the founder and CEO of the Black Women’s Wealth Alliance, a public benefit corporation that focuses on increasing the economic stability and prosperity of historically black women and girls.

Black Women’s Wealth Alliance is a culturally specific agency providing Black Women with wealth education, business support services, financial assistance and incubation space to operate their businesses. BWWA leads and innovates wealth creation work with Black Women in Minnesota since 2014 and has served more than 4,500 Black Women business owners, students and career professionals in Minnesota to start & maintain businesses, complete college, advance careers, purchase homes and to remove core barriers to building wealth. Additionally, BWWA has provided over $2 million in small capacity grants & facilitated lending and works in partnership across the business and wealth ecosystem. In 2021 BWWA purchased a commercial building that is now called ZaRah and is home to 20 businesses within the holistic wellness, retail and food industries- 16 businesses are owned and led by African American Women.  ZaRah targets mid-stage African American Women owned businesses & entrepreneurs, providing them with core services to further Black wealth through our wrap around support services that foster critical business skills, revenue, affordable operational space, and overall growth & strengthening within industry marketplaces.   

Under McKnight-Ahad’s leadership, BWWA has served more than 4,000 black women across Minnesota to date, investing over $2m in small-capacity grants. As a resident of North Minneapolis for 35 years, McKnight started her career as a public and charter school educator. Since 2007, she has served in key leadership roles across the economic development sector in metro Minnesota, including on community development boards, commissions, and related initiatives. Additionally, she has extensive experience as a direct business service provider, facilitating lending and technical support to more than 400 micro businesses, leading business legal & marketing clinics, and youth entrepreneurship programs. 

Kenya shares why she’s a member of the Alliance:

“I’m a member of the Alliance because it offers me the opportunity to grow, learn and share with other leaders across the country doing amazing work to build upper mobility in our communities which is very important to me. The Alliance is helping BWWA broader our strategies and grow capacity to be a CDFI, we’re grateful and Angela is amazing to work with.” – Kenya McKnight-Ahad

Visit the BWWA’s website here to learn more.

Kevin Daniels: President & Chairman of Array Community Development Corporation and Chief Operating Officer of Array Strategies

Kevin Daniels is the President and Chairman of Array Community Development Corporation and Chief Operating Officer of Array Strategies.  Kevin resumed this position after taking a leave of absence to serve as the Director of External Engagement with the North Carolina Community College System.  In his previous role, he served as Director of Community and Constituent Affairs for North Carolina Governor Pat McCrory.  He was tasked with the coordination of the outreach activities to support the Governor’s key initiatives, in conjunction with non-profit organizations, the business community, trade associations, Federal, State and local government agencies. Several initiatives include increasing contract opportunities for small and minority businesses, Anti-Human Trafficking, Historically Black Colleges and Universities summer internships, workforce development and public safety. Kevin also served as the Governor’s Liaison to the International Visitors Leadership Program, a US State Department sponsored initiative to increase mutual understanding between the people of the United States and the people of other countries by means of educational and cultural exchange. In his previous role, Kevin served as the State Director for the AmeriCorps, administering a $4.4 million grant and overseeing day to day operations for 16 non-profit organizations that spanned 70 counties with nearly one thousand members.

For generations, the Black Community living in coastal areas has had a proud heritage of commercial fisherman.  However, over the past few decades, there’s been a significant decline in the number of thriving black owned businesses in this industry.  Along with their strategic partners, Array launched a loan fund and technical assistance initiative to boost minority commercial fishing.  The state of North Carolina has a goal of creating a $100 million oyster industry supported by 1,000 jobs.  Their specialized program will work to ensure the Black community is included in this statewide goal.

Kevin shares why he’s a member of the Alliance:

“Array Community Development Corporation joined the Alliance for several reasons.  First, we support the mission and believe this is the premier organization to support African American-led CDFIs.  Secondly, Lenwood V. Long, Sr. has a stellar reputation in North Carolina as a champion for the Black-owned businesses and the communities in which they serve.  As a young organization, our board and executive team firmly believed we can benefit from the experience, relationships and leadership provided by the Alliance.” – Kevin Daniels

Visit Array CDC’s website to learn more.

The Community Builders of Color Coalition, led by The Alliance, is working to ensure Black and Brown CDFIs, MDIs, and Community Economic Development Organizations are positioned to help small businesses and underserved communities.

We are heartbroken and overwhelmed by the tragic and wholly unnecessary beating and death of Tyre Nichols.  

Tyre Nichols was a young, healthy Black man. He was a father to his four-year-old son and a great friend to many. Tyre worked alongside his stepfather at FedEx and during his downtime, enjoyed skateboarding and photography. Tyre’s life was special, layered, and cut short by senseless police brutality. A pattern that keeps repeating in the streets of America. 

For far too long, the Black community has been subjected to police brutality and racial profiling at an alarming and disproportionate rate. This has led to an increase in the number of deaths caused by law enforcement officers, the very people who pledged to protect us. We have not come far enough since the beating of Rodney King, the death of Breonna Taylor, or George Floyd’s killing. The system is broken, and we must collectively fight for humanitarian reform. We must act now before another life is taken away. 

When we talk about police brutality, it’s important to remember that this isn’t just a problem for Black people. It’s a problem for everyone who cares about justice and human rights. 

We all need to work together to callout and eliminate anti-Blackness in all aspects of law enforcement so that the system no longer devalues and criminalizes Black people, and instead protects and serves Black communities.    

At the Alliance, we are committed to addressing systemic oppression in order to ensure rights and life for Black people. We call on law enforcement, legislators, and policymakers to come together urgently to enact reforms that will preclude such tragedies from occurring in the future.  

We will not stop standing up and speaking up for economic and social justice for Black people and Black communities.   

Martin Luther King, Jr. stated “Law and order exist for the purpose of establishing justice and when they fail in this purpose, they become the dangerously structured dams that block the flow of social progress.” 

We will not stop fighting. 

Lenwood V. Long, Sr.