Community Financial Institutions: A Corporate Partner in Community Development
Tune in for a livestream event next week to learn more about how companies can leverage CFIs to deploy social impact investments that make a real difference.
Community financial institutions (CFIs) like credit unions and community development banks are the go-to resource for banking services, loans and other financial tools in historically underserved communities across the U.S.
For businesses looking to invest through a social impact lens, CFIs are a proven way to make a positive impact. Investments in CFIs represent an opportunity for companies to direct funds where they can generate direct economic opportunities and expand financial inclusion in both urban and rural areas that have long been overlooked.
The decision to invest in, and partner with, CFIs is one that can result in many long-term benefits. These banks and credit unions have a long and successful track record of directing dollars into underserved communities to help address their challenges. Today, CFIs collectively manage more than $200 billion — which they lend locally to create jobs, support small businesses, expand affordable housing, and offer historically underserved people a chance to grow their financial health.
Technology can help deploy these funds faster and to more targeted individuals. The women-led impact investing platform CNote, for example, has been instrumental in transferring corporate investments to CFIs in underserved communities. CNote’s Impact Cash platform provides an easy-to-use and measurable tool for streamlining corporate investments in one interface.
One of CNote’s most recent partners, the science and technology company Merck KGaA, Darmstadt, Germany, made a $20 million investment on the platform — which will target underserved U.S. communities where the company does business.
Tune in for a livestream event next week to learn more about how companies can leverage CFIs to deploy social impact investments that make a real difference.
Mary Mazzoni, senior editor of TriplePundit, will sit down with Jeffrey Whitford, Head of Sustainability and Social Business Innovation for the Life Science business sector of Merck KGaA, Darmstadt, Germany, Renee Connolly, the company’s Chief Diversity, Equity & Inclusion Officer and Head of Innovation HR Engagement, and CNote CEO Catherine Berman.
Join us on Wednesday, December 14 at 1 p.m. ET (or catch a recording afterward) as we discuss the benefits of investing in CFIs and how other businesses can apply this novel model to meet their diversity, equity and inclusion goals. Register for this free webcast here.
