I like my chair and have had it for some time. It wasn’t a frivolous acquisition but took a good deal of forethought and decisive action to obtain. It sits in a sunny area of the back room of my home and is perfect for relaxing and reading. Though it is appropriately worn, it fits just right. And because it is of a certain vintage, it is not subject to the spousal restrictions oft predicated on later model acquisitions.
Just like my chair, Finance Fund has been trying to find the right fit for gaining CDFI certification for almost a decade but have not been able to find that perfect connection until now. This month we have received word from the CDFI Fund that our Finance Fund Capital Corporation (FCAP) has been certified as a CDFI, and just like my chair this seems to be a perfect fit.
We have received an assortment of honors and certifications for meeting various standards of excellence, but this one brings with it potential unique to our needs. In addition to the honor of being recognized as meeting the criteria and standards of a community development financial institution, this award allows us to annually request federal resources to fund community partner’s projects and to apply for membership in the Federal Home Loan Bank. The latter, for reasons of scale and sustainability, brings with it exceptional opportunity for expansion of service to our community based clients. As an active FHLB member we, like other financial institutions, can access lending capital to match equity for investment in community projects.
Now, just like my chair, we look forward to a good and comfortable fit helping us to further the mission of helping people.
Tags: CDFI, Federal Home Loan Bank, FHLB, Finance Fund, Finance Fund Capital Corporation
