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Community Finance Innovation Fund

Community Finance Innovation Fund

The Community Finance Innovation Fund supports the growth of the nonprofit community finance sector, with a focus on Community Development Financial Institutions (CDFIs) that work to advance financial inclusion and financial health in low-income communities across the U.S.

Only 30% of Americans are financially healthy today. The Citi Foundation believes that Community Development Financial Institutions (CDFIs) have an important role to play in the financial services ecosystem by providing individuals and families across the U.S. with access to responsible and affordable financial products, as well as tools and services that catalyze greater financial health for all, including closing the racial wealth gap. 

 In 2022, the Citi Foundation established the Community Finance Innovation Fund to enable CDFIs to meet increased demands for capital and address economic challenges brought by the COVID-19 pandemic. It is continuing its support for the nonprofit community finance sector by funding a new cohort with innovative solutions to advance financial inclusion and financial health in low-income communities. 

Meet the First Cohort Grantees

The organizations in the first Community Finance Innovation Fund cohort were selected following a competitive Request for Ideas process in 2022.

The selected organizations and projects are:  

  • Technology and Operational Efficiency

    • Aeris Insight
    • California Association for Microenterprise Opportunity (CAMEO)
    • Credit Builders Alliance
    • National Bankers Community Alliance

  • Human Capital

    • African American Alliance of CDFI CEOs Inc.
    • Inclusiv
    • Local Initiatives Support Corporation (LISC)
    • National Association for Latino Community Asset Builders (NALCAB)
    • Opportunity Finance Network (OFN)

  • Research and Thought Leadership

    • University of New Hampshire’s Center for Impact Finance

  • Financial and Risk Sharing

    • Calvert Impact Capital
    • Capital Impact Partners

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