Industry & Member News

The LIDC and its sponsors are excited to announce the 5th annual Strategic Markets and Diversity Conference to be held in the Washington, DC area on May 5-7, 2010 at the Gaylord National Resort & Convention Center, National Harbor, Maryland. This is a one of a kind forum for candid discussions of the interplay of workforce diversity, multicultural marketing, and how mortgage lending strategies influence minority homeownership outcomes. Register Online at the the Early Bird special rate of $299!

CFED needs your support to push for a stronger Saver's Credit and achieve an important victory for working families. The Savings for American Families' Future Act now being debated in Congress would help workers build savings and promote adequate retirement and financial security for all Americans.

This is one of the most important financial security policies now before Congress, and CFED is nationally recognized as the key nonprofit organization advocating for its passage. We hope that as a friend of CFED, you will stand with us and the millions of low- and moderate-income Americans who will benefit from this legislation. Together, we can expand savings incentives for more than 50 million low- and moderate-income Americans.

New tools and datasets are now available! Whether you are a city official managing a housing or foreclosure program, a student conducting research for course work, a community lender looking to better understand your portfolio in this market, or a foundation making decisions with limited resources, these new tools and data allow you to visualize and incorporate market information into your work in simpler, more efficient ways.

MIT's Department of Urban Studies and Planning is researching how CDFIs and other economic development organizations are working with small businesses to address market opportunities or needs related to global climate change and the “green economy.” This means we need feedback from you and your organization about programming and activities. Please take 10 minutes to complete this brief, voluntary survey. Results will be shared with the OFN community and be made publicly available. The survey works well through Internet Explorer. Questions? Contact Karl Seidman at seidman@mit.edu or 617.253.3964, or Rebecca Economos at economos@mit.edu.

PeopleFund and Bank of America are proud to welcome Cecilia Estolano, Chief Strategist of State and Local Initiatives for Green for All, for an interactive discussion on “Rebuilding the Middle Class: The Clean Energy Economy as Engine for Social Equity”.

As Green Jobs take center stage in the national arena, the Clean Energy Economy has the potential to become a significant economic opportunity for low- to moderate-income communities. Ms. Estolano’s discussion will highlight how strategic, intentional and bold investments in clean energy and cleantech can not only get America back to work, but create career ladders to the middle class for low-income communities and people of color. Through strategic collaborations with sectors such as energy efficiency retrofits, renewable energy, transportation, waste and recycling, and urban manufacturing, the Clean Energy Economy offers promise for growth in well-paying, family-supporting jobs for underserved communities.

Officials at the U.S. Department of Agriculture (USDA) have approved a special set aside of $25 million in mortgage funds for low-income homebuyers in Central Appalachia through the Federation of Appalachian Housing Enterprises (FAHE) and its affiliates. Loans originated through this pilot program will feature payment assistance and interest rates as low as 1% to ensure affordable monthly payment. For those who qualify, 100% financing and alternative credit analysis are available.

In a new partnership with Cascade Sierra Solutions (CSS), Opportunity Fund has stepped in to provide extra financing and has already made $289,000 in loans to 24 truckers.

"We're working with truck drivers at the Port of Oakland who are the self-employed owners and operators of their trucks. These drivers make between $30-40,000 per year. The $12,000 cost to install a new engine filter and comply with these new regulations is beyond their reach. We're proud to be able to assist in an effort that gets truckers back on the road and improves the environment for these overly polluted communities" says Eric Weaver, CEO of Opportunity Fund.

Microfinance USA is the place where microfinance practitioners, investors, and enthusiasts meet. Drawing upon the overwhelming success and momentum generated by the 2009 Microfinance, CA conference, Microfinance USA will bring together investors, policymakers, social entrepreneurs, practitioners, small business owners, and curious individuals to explore how microfinance produces jobs, increases incomes, and creates opportunities to build stable and sustainable communities.

Visit www.microfinanceusa2010.org to learn more and register now. Early bird registration ends March 15th.

The Federal Reserve Bank of San Francisco's Center for Community Development Investments has just published a new issue of its journal, The Community Development Investment Review, which focuses on the intersection of health and community development.

This issue includes several proposals designed to "bend the health-care cost curve" using innovative community development strategies as well as ideas to positively affect social determinants of health to generate better health outcomes for low-income people. You can access the new issue of the Review online.

The Federal Deposit Insurance Corporation, Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco, Office of the Comptroller of the Currency, Office of Thrift Supervision and Community Development Financial Institutions Fund invite you to register for the 2010 National Interagency Community Reinvestment Conference.

To access the full agenda and to register online, please follow this link: http://www.frbsf.org/community/conference2010.html.