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Community Scope

2016, Issue 2

Geographic Reach of State and Local Respondent CDFIs

Map 1: Geographic Reach of State and Local Respondent CDFIs

Source: Survey results from the Federal Reserve Bank of Richmond’s 2015 Survey of CDFIs in the Southeast.

N=128 CDFIs

Geographic Reach of State and Local Respondent CDFIs 

To better understand the impact of state and local CDFIs, the remainder of our analysis will focus on this subset of CDFIs and exclude national CDFIs unless otherwise noted. State and local CDFIs in the Southeast largely operate solely within the region, although a number of respondent CDFIs indicated that they serve states outside of the Southeast. Map 1 gives a breakdown of the number of state and local respondent CDFIs by state, and indicates those states outside the Southeast that are served by respondent institutions headquartered in the Southeast. While respondent CDFIs indicated extending service to Northeast and Midwest states, including Delaware, Indiana, Michigan, New Jersey, Pennsylvania and Ohio, none indicated that they also serve markets in states west of the survey area. While the root causes of this pattern – if any – are unclear, it may indicate an opportunity for future research into the factors that influence geographic service provision, including barriers to cross-state service provision and the impact of existing community relationships.

Map 2: State Respondent CDFIs Operating in Southeast Counties

Source: Survey results from the Federal Reserve Bank of Richmond’s 2015 Survey of CDFIs in the Southeast.

N=66 CDFIs

To provide further insight into the breakdown of state and local CDFIs in the Southeast, Map 2 displays the number of respondent CDFIs that have multi-state or single state service areas and Map 3 displays the number of respondent CDFIs that have multi-county, single county, multi-city, single city, multi-census tract or single census tract service areas. The number of state CDFIs ranges from two in Arkansas and Kentucky to 12 in Virginia. There is a relatively high concentration of state respondent CDFIs that jointly serve the District of Columbia, Maryland and Virginia, with eight CDFIs (12.3 percent of the respondent CDFIs that operate at the state level) indicating activity in this geographic area.

The number of local CDFIs operating in counties throughout the Southeast ranges from zero to 11. Most counties in Arkansas, Alabama and Maryland have either no local respondent CDFIs operating in the county or just one local CDFI in operation. Louisiana has a relatively large number of local CDFIs, with each county in Louisiana having eight to 11 local CDFIs that operate in the area. On average, there are four local CDFIs operating in Southeast counties.

Map 3: Local Respondent CDFIs Operating in Southeast Counties

Source: Survey results from the Federal Reserve Bank of Richmond’s 2015 Survey of CDFIs in the Southeast.

N=62 CDFIs

While the gross number of CDFIs operating at the county level in the Southeast does lend some insight into CDFI activity, this analysis is limited by a lack of detailed information on the lending activity in each county and the degree to which respondent CDFIs provide non-lending services — such as financial education and housing counseling — to the geographies they serve.

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