Today, the U.S. Department of Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced the recipients of the Fiscal Year (FY) 2017 Capital Magnet Fund (CMF) Award. We would like to congratulate all recipients, especially the 21 OFN Members who were selected for a CMF Award.

  • Appalachian Community Federal Credit Union
  • Atlanta Neighborhood Development Partnership  
  • Boston Community Loan Fund
  • Century Housing Corporation
  • Cinnaire Lending Corporation
  • Clearinghouse Community Development Financial Institution
  • The Community Development Trust
  • Corporation for Supportive Housing
  • Enterprise Community Loan Fund Inc.
  • Home Headquarters  
  • Hope Federal Credit Union
  • Kentucky Highlands Investment Corporation
  • Leviticus 25:23 Alternative Fund  
  • Local Initiatives Support Corporation
  • North Carolina Community Development Initiative Capital  
  • Ohio Capital Finance Corporation
  • Reinvestment Fund  
  • Rural Community Assistance Corporation
  • San Luis Obispo County Housing Trust Fund
  • Self-Help Federal Credit Union
  • Virginia Community Capital  

More than $120 million in awards will be issued to 40 organizations. These organizations will leverage investment opportunities and increase access to affordable housing options for underserved communities across 41 states in the United States and the District of Columbia.

25 out of the 40 organizations are CDFIs. The 21 OFN Members selected will receive $68 million in funding for the development of affordable housing and community facilities in low-income communities. Since the program requires recipients to leverage $10 of housing and economic development investments for every $1 dollar of federal funds, OFN Members will support $680 million of investments in low-income communities. 

To read the full press release, click here.

 

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