Yes Magazine recently posted a story exploring how CDFIs are working to increase access to capital. "Across the United States, there’s increasing awareness that low-wealth people need access to affordable financial services before they can climb out of poverty. The federal government has put $2.3 billion into awards to help financial institutions provide services to the poor—an activity that is not always profitable. What’s less well-known is that the program has taken a unique turn in Mississippi, where 37 community banks have joined the program—far more than in any other state. At a time when community banks are closing their doors around the nation, these Mississippi banks are staying strong, and finding creative ways to help their neighbors."
Read the full story here.