Remove Community Development Remove Finance Remove Poverty
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What Does Finance for the People Look Like?

NonProfit Quarterly

Public bankscreated by governments and chartered to serve the public interestoffer a powerful model to advance racial equity, public accountability, and community self-determination. A recent report by the Office of the State Comptroller found that Rochester has the fifth-highest child poverty rate of any US city.

Finance 136
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What’s Next for CDFIs? The Challenge and Opportunity of Place

NonProfit Quarterly

Image Credit: Brian Koellish on iStock Nearly a third of US communities are CDFI deserts. In these turbulent times, many leaders of the nations growing network of community development financial institutions (CDFIs)which now collectively manage $468 billion in assets, a 615 percent increase over the past decadehave high hopes.

Finance 105
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Ending Persistent Poverty in Rural America: The Role of CDFIs

NonProfit Quarterly

This article introduces a new series, titled Eradicating Rural Poverty: The Power of Cooperation. For decades, community development financial institutions have delivered capital into communities and regions that otherwise suffer from disinvestment. This is true in urban areas and, critically, rural communities.

Poverty 131
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Impact over Equity: How the Feds Reinforced Inequality in Community Finance

NonProfit Quarterly

Cliff Rosenthal was the executive director of the National Federation of Community Development Credit Unions (now called Inclusiv ) from 1983 until 2012. The federation is a national association of credit unions largely run and owned by people of color serving low-income and primarily BIPOC communities.

Finance 107
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Making Policy Work for Rural Communities: The Value of Community Voice

NonProfit Quarterly

This article is the second in the series Eradicating Rural Poverty: The Power of Cooperation. Public funding programs often include conditions that exceed the capabilities of high-poverty areas, such as requiring matching funds that these areas do not have. A different approach that centers community voice is sorely needed.

Values 129
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Housing Innovation in Rural America

NonProfit Quarterly

This article concludes the series : Eradicating Rural Poverty: The Power of Cooperation. Fortunately, a new approach to rural housing that pairs a flexible form of modular housing with community-based finance shows considerable promise. Studies show that secure housing is critical to reducing generational poverty.

Poverty 118
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How to Help People of Color Become Homeowners: Data from Philadelphia

NonProfit Quarterly

In our 2023 study, our researchers found that the four lowest-cost market categories had median sale prices ranging from $45,000 to $154,000compared to a city median of about $250,000and above-average poverty rates ranging from 23 to 49 percent in a city with the unfortunate distinction of being the poorest big city.