New Report Highlights Work of CDFIs
The Richmond Fed’s newly authored report, CDFIs by the Numbers, provides findings from the 2019 Federal Reserve CDFI Survey.
The 2019 CDFI Survey was a collaborative effort by the Federal Reserve, the CDFI Fund, Opportunity Finance Network, First Nations Oweesta Corporation, NeighborWorks America and Inclusiv and was fielded from April through June 2019. This effort gathered information from 557 CDFIs in the continental United States, Alaska, Guam, Hawaii and Puerto Rico.
Select key findings include:
- In 2018, approximately 12,000 staff members from respondent CDFIs provided financial products and development services to over 1 million clients and communities nationwide.
- Demand for CDFI products and services grew. From April 2018 through April 2019, 73 percent of respondent CDFIs experienced increased demand.
- The portfolio of CDFI lending is relatively concentrated in the small business sector, followed by residential and commercial real estate. Respondent CDFIs reported that 41 percent of their aggregated loan funds are invested in small businesses, followed by 28 percent in residential real estate and 11 percent in commercial real estate.
The report also highlights the following special topics: workforce development, Opportunity Zones, modernization of the Community Reinvestment Act (CRA) and the impact of the 2018–19 partial federal government shutdown.
Read the report: CDFIs by the Numbers
See which CDFIs responded: National CDFI Directory