The Federal Reserve Bank of Richmond will present research that identifies and analyzes possible gaps in service areas for community development financial institutions in the Southeast at a conference Oct. 27.
The research, to be presented by Kimberly Zeuli, Community Affairs officer at the Richmond Fed, will show a map of CDFI coverage and assets to illustrate the reach of CDFIs in places that may have limited credit and investment resources.
The Richmond Fed is working with the Opportunity Finance Network, the Mary Reynolds Babcock Foundation and the U.S. Treasury's Community Development Financial Institutions Fund to host the Building Community Development Finance Capacity in the Southeast pre-conference session on Oct. 27, from 12 p.m. until 4 p.m., at the Charlotte Westin Hotel, in Charlotte, N.C. The session is being held in conjunction with the 2009 Opportunity Finance Network Conference and will focus on providing education about existing CDFI capacity and strategies for expanding service, especially in underserved markets. Community development financial institutions provide alternative access to capital, credit and financial services for low- and moderate- income communities that are underserved by traditional financial institutions. CDFIs are critical to maintaining capital flow in today's tight credit market however; preserving the gains made in revitalizing these communities remains a challenge.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.