July 15, 2010

Richmond Fed and Opportunity Finance Network Hold CDFI Meeting

Richmond, Va.

The Federal Reserve Bank of Richmond and the Opportunity Finance Network will host the 2010 Opportunity Finance Network Southeast Regional Meeting on July 19 and 20 in Richmond. The one and one-half-day meeting will offer OFN members, emerging community development financial institutions, funders, investors and other stakeholders the chance to engage in an important regional collaboration and training opportunity in the Southeast.

The purpose of the meeting is to bring together CDFI stakeholders to discuss CDFI expansion and collaboration opportunities in the Southeast. OFN President and CEO Mark Pinsky will discuss the current state of the community development finance industry and participants will engage in dialogue about regional CDFI collaboration, capitalization and the regional economy. Breakout sessions will also be offered on how to apply for CDFI Fund certification, small business underwriting and affordable housing underwriting.

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.

The meeting will be held at the Federal Reserve Bank of Richmond, starting at 9 a.m. on July 19. Support for this meeting is provided by the Citi Foundation and the Mary Reynolds Babcock Foundation.

As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District — including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia — to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.

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