The The Wells Fargo NEXT Awards for Opportunity Finance celebrate the opportunity finance industry—its creativity, accomplishments, and enduring importance. Launched in 2007, the Wells Fargo NEXT Awards have celebrated the innovation of the nation’s most promising CDFIs by awarding more than $76 million through a competitive awards process over the last ten years. Each year the Wells Fargo NEXT Awards culminate in a ceremony at Opportunity Finance Network’s Annual Conference to spotlight Awardees and the entire CDFI industry.
The 2016 NEXT Opportunity Award recipients are:
- Appalachian Community Federal Credit Union won $2 million to use Virtual Teller Machines and strategic partnerships to expand the credit union's ability to reach rural populations with full-service retail consumer financial services.
- Rio Grande Valley Multibank Corporation won $1.6 million to substantially expand its employer-based Community Loan Center Small-Dollar Loan Program throughout Texas and into additional states working with CDFI and CDC partners.
The 2016 NEXT Seed Capital Award recipients are: Lower Valley Credit Union, Texas Community Capital, and The Housing Fund. Each of these CDFIs has received a $100,000 unrestricted grant for promising consumer financial products and services.
Learn more about the 2016 NEXT Awardees.
The NEXT Awards are presented by OFN with generous support from Wells Fargo, Prudential, the John D. and Catherine T. MacArthur Foundation, and The Kresge Foundation.