Discussion Paper

Taking Stock of Community Development Financial Institutions

Abstract: Community development financial institutions (CDFIs) are mission-driven organizations that expand financial product and service options to lower-income households, small businesses, and communities. The Community Reinvestment Act of 1977 created the Federal Reserve's community development function, which is tasked with promoting economic growth and financial stability for low- to moderate-income communities. Because CDFIs support access to credit in low- and moderate-income areas, the Federal Reserve has a direct interest in understanding CDFIs' role in capital access and the landscape of the industry. To accomplish this, the Federal Reserve Banks run a biennial survey of CDFIs led by the Richmond Fed that asks questions related to: Certification status Types of CDFIs and classifications Funding sources Primary and secondary business lines Demand for services

Keywords: CDFI Survey; Financial Institutions and Regulation; Community Development Finance;

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Regional Matters

Publication Date: 2025-03-13