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CDFIs are nonprofit lenders that play a critical role in the economy by bringing investment and resources to communities that have historically been undeserved by traditional finance.

Supporting Black-led Financial Institutions

Invest in Black-led CDFIs and Depository Institutions to Close the Wealth Gap

In the US, communities of color face persistent and institutionalized barriers to accessing capital. Community development financial institutions (CDFIs) and other Black-led financial entities have been found to align capital with justice and to work for communities of color, combating hundreds of years of systemic racism.

 

CDFIs are nonprofit lenders that play a critical role in the economy by bringing investment and resources to communities that have historically been underserved by traditional finance.

Black-led banks and credit unions, often headquartered in predominantly black neighborhoods, support the financial health and wellbeing of their communities and focus on serving Black-owned small firms, local organizations, nonprofits and Black families even in times of economic decline.
Despite the opportunity these financial entities represent to shrink the racial wealth gap, both within the CDFI and banking industries there remains a funding disparity between Black-led institutions and their white counterparts.

  • In one study, it was found that white-led CDFIs held total assets of 6 times the amount held by POC-led CDFIs.
  • Not only has the number of Black banks declined by over 50% since 2001, but as of the fourth quarter of 2019, Black-owned banks held 0.03% of the total assets represented by community and non community banks according to data from the FDIC.

Check out the map below to see the distributions of Black-owned banks across the US.

Partnering to Close the Wealth Gap

Funding disparities between Black-led institutions and their counterparts limit their ability to leverage resources for the communities they serve – typically communities of color.

 

At CNote we are committed to partnering with and investing in small and medium sized mission-driven lenders with particular focus on those led by People of Color. Expanding access to capital for Black banks and other financial institutions targeting underserved neighborhoods, particularly during a crisis, can help spur home and business lending to Black families and bring much-needed economic development to groups excluded from the financial mainstream.

Learn more about some of our partners and the transformative impact mission-driven lenders can have for Black communities and underserved populations more broadly.

Black-led Institutions Across the US

With the African American Alliance of CDFI CEOs, CNote is also working to catalog and publicly share a list of Black-led financial institutions to mobilize more equitable capital for marginalized groups across the US.

 

The list below can be filtered by keyword, state, and other criteria. When possible, we’ve tried to share website information so those interested can get in touch with leadership at these institutions themselves.

 

The goal of this initiative is to drive greater funding to Black-led institutions and address the persistent funding gap many of these Black-led organizations have and currently face, if not through CNote’s platform than through greater visibility and accessibility to those interested in investing.

Organization Name
Type
State
Address
Website
Alamerica Bank-BirminghamBankAL2170 Highland Ave, Birmingham, AL 35205https://www.alamericabank.com/
Bronze Valley Corp-BirminghamVenture CapitalALP O Box 530644, Birmingham, AL, 35203Not available
Commonwealth National-MobileBankAL2214 St. Stephens Road Mobile, Alabama 36601https://www.ecommonwealthbank.com/
Demopolis Federal Credit Union - DemopolisCredit UnionAL106 E Washington St # A, Demopolis, AL 36732 http://demopolisfcu.com/
New Pilgrim Federal Credit Union - BirminghamCredit UnionAL641 Goldwire Way SW, Birmingham, AL 35211http://npfcu.com/
People Trust Community Loan Fund-Little RockLoan FundAR5300 West 65th Street, Little Rock AR 72209https://www.peopletrustloans.org/
Southern Bancorp Community Partners-Little RockLoan FundAR8924 Kanis Rd, Little Rock, AR 72205 https://southernpartners.org/
Ampac Tri-State CDC-Grand TerraceLoan FundCA22365 Barton Rd Ste 304, Grand Terrace, CA 92313 https://ampac.com/
Broadway Federal Bank-Los AngelesBankCA5055 Wilshire Blvd Suite 500, Los Angeles, CA 90036https://www.broadwayfederalbank.com/
Lendistry-BreaLoan FundCA330 E Lambert Rd #275, Brea, CA 92821 https://lendistry.com/
Pacific Coast Regional Small Business Corporation, LALoan FundCA3255 Wilshire Blvd #1501, Los Angeles, CA 90010 https://www.pcrcorp.org/
Industrial BankBankDC4812 Georgia Ave NW, Washington, DC 20011https://www.industrial-bank.com/
NAPFE Federal Credit UnionCredit UnionDC1640 11th St NW, Washington, DC 20001 https://www.napfe.com/services/napfe-credit-union.html
Washington Area Community Investment FundLoan FundDC2012 Rhode Island Ave NE, Washington, DC 20018 https://wacif.org/
True Access Capital-WilmingtonLoan FundDE20155 Office Cir #2, Georgetown, DE 1994 http://www.trueaccescapital.org/
BAC Funding Consortium Inc-Miami Loan FundFL6600 NW 27th Ave, Miami, FL 33147https://bacfunding.com/
Black Business Investment Fund Florida-OrlandoLoan FundFL301 E Pine St #175, Orlando, FL 32801 https://bbifflorida.com/
Manatee Community FCU- BradentonCredit UnionFL604 13th Ave E, Bradenton, FL 34208 https://www.manateecfcu.org/
Opa Locka CDC-Community Fund N Miami Dade-Opa LockaLoan FundFL490 Opa-locka Blvd, Opa-locka, FL 33054 https://www.olcdc.org/
Palm Beach County BBIC-RivieraLoan FundFL2001 Broadway Ave UNIT 210, Riviera Beach, FL 33404 http://www.pbcbbic.biz
Pensacola L & N Employees FCU-PensacolaCredit UnionFL251 Amber St, Pensacola, FL 32503 https://www.lnfcu.com/
Tampa Bay BBIC-Tampa Loan FundFL1920 E Hillsborough Ave #222, Tampa, FL 33610 http://tampabaybbic.com/
Urban League of Broward County-Fort LauderdaleLoan FundFL560 NW 27th Ave, Fort Lauderdale, FL 33311 https://www.ulbroward.org/
Albany Community Together, Inc. -AlbanyLoan FundGA230 S Jackson St # 118, Albany, GA 31701 https://www.albanycommunitytogether.com/
Carver State Bank-SavannahBankGA701 Martin Luther King Jr Blvd, Savannah, GA 31401https://www.carverstatebank.com/
Citizen Trust-AtlantaBankGANot availablehttps://ctbconnect.com/
Chicago Neighborhood Init. Micro Finance Group-ChicagoLoan FundIL1000 East 111th Street, 10th Floor Chicago, IL 60628https://cnimfg.org/
GN Bank-ChicagoBankIL4619 S King Dr, Chicago, IL 60653 https://www.gnbank.net/
Israel Methcomm FCU - ChicagoCredit UnionIL7620 South Cottage Grove Avenue, Chicago, IL 60619Not available
Mt Zion CU-Zion Credit UnionIL2500 West 30th Street, Zion, IL 60099Not available
St. Mark Credit Union - ChicagoCredit UnionIL8441 S St Lawrence Ave, Chicago, IL 60619, UnitedNot available
The Chicago Community Loan Fund-ChicagoLoan FundIL29 E Madison St Ste 1700, Chicago, IL 60602http://www.cclfchicago.org/
Afena Federal Credit Union - MarionCredit UnionIN414 N Bradner Ave, Marion, IN 46952https://www.afenafcu.org/
Mt. Zion Indianapolis FCU-IndianapolisCredit UnionIN3549 Boulevard Pl, Indianapolis, IN 46208 Not available
Union Baptist Church FCU-Fort WayneCredit UnionIN2200 Smith St, Fort Wayne, IN 46803 http://www.cdfifund.gov
Liberty Bank-New OrleansBankLA6600 Plaza Dr #310, New Orleans, LA 70127http://www.libertybank.net/
NewCorp Inc- New OrleansLoan FundLA2533 Columbus St #204, New Orleans, LA 70119 https://www.newcorpinc.com/
Southwest Louisiana Credit Union - Lake CharlesCredit UnionLA4056 Ryan St, Lake Charles, LA 70605https://www.swlacu.com/
OneUnited Bank-BostonBankMA100 Franklin St, Boston, MA 02110https://www.oneunited.com/
Baltimore Community Lending, Inc.-BaltimoreLoan FundMD875 Hollins St # 301, Baltimore, MD 21201 https://bclending.org/
Enterprise Community Loan Fund, Inc.-ColumbiaLoan FundMD70 Corporate Center 11000 Broken Land Parkway, Suite 700. Columbia, MD 21044https://www.enterprisecommunity.org/financing-and-development/community-loan-fund
FSC First-LargoLoan FundMD1801 McCormick Drive Suite 300. Largo, MD 20774https://fscfirst.com/
Harbor Bank Of Maryland -BaltimoreBankMD25 W. Fayette Street. Baltimore, MD 21201https://www.theharborbank.com/
Housing Options and Planning Enterprises - Oxon HilLoan FundMD 6188 Oxon Hill Rd #700, Oxon Hill, MD 20745 http://hopefinancial.org/
MD Capital Enterprises-SalisburyLoan FundMD212 W Main St #400, Salisbury, MD 21801 https://www.marylandcapital.org/
First Independence Bank-DetroitBankMI7020 W Seven Mile Rd, Detroit, MI 48221https://www.firstindependence.com/
African Development Center of Minnesota-MinneapolisLoan FundMN1931 S 5th St, Minneapolis, MN 55454 https://www.adcminnesota.org/
First Unity Federal Credit Union - McCombCredit UnionMS122 5th Ave, McComb, MS 39648 Not available
Hope Credit Union (Jackson Multiple States)Credit UnionMSHope Federal Credit Union 4 Old River Place, Suite A, Jackson, MS 39202https://hopecu.org
Hope Enterprise Corporation- JacksonLoan FundMS4 Old River Pl A, Jackson, MS 39202 https://hopecu.org/about/hope-enterprise-corporation/
Small Business Capital Fund of Mississippi, Inc.-JacksonLoan FundMS802 North St, Jackson, MS 39202 https://sbcf-ms.org/
Carolina Small Business Development Fund – RaleighLoan FundNC3128 Highwoods Blvd #170, Raleigh, NC 27604 https://carolinasmallbusiness.org/
Greater Kinston Credit Union-KinstonCredit UnionNC901 N Queen St, Kinston, NC 28501 https://www.greaterkcu.org/
Local Government Federal Credit Union-RaleighCredit UnionNC3600 Wake Forest Road, Raleigh, NC 27609https://www.lgfcu.org/
Mechanics & Farmers – DurhamBankNC116 W Parrish St, Durham, NC 27701 https://www.mfbonline.com/
North Carolina Community Development Initiative - DurhamLoan FundNC5800 Faringdon Pl, Raleigh, NC 27609 http://www.ncinitiative.org/
Piedmont Business Capital - GreensboroLoan FundNC1451 S Elm-Eugene St #2121, Greensboro, NC 27406 https://www.piedmontbusinesscapital.org/
Carver Federal Savings, New YorkBankNY1009 Nostrand Ave, Brooklyn, NY 11225https://www.carverbank.com/
Concord Federal Credit Union - BrooklynCredit UnionNY833 Gardner C. Taylor Boulevard, (Formerly, Marcy Ave, Brooklyn, NY 11216 http://www.concordfcu.org/
Greater Jamaica Development Corporation-Jamaica Loan FundNY90-04 161 St, Jamaica, NY 11432 https://gjdc.org/
Harlem Entrepreneurial Fund-New YorkLoan FundNY361 W 125th St 2nd floor, New York, NY 10027 https://www.harlemcommonwealth.org/hef
LISC-NYLoan FundNY28 Liberty St, New York, NY 10005 https://www.lisc.org/nyc/who-we-are/contact-us/
National Miniority Supplier Development Council Business
Consortium Fund, Inc- New York 		Loan FundNY575 Lexington Avenue, 4th Floor. New York, NY 10022http://nmsdc.org/
TruFund Financial Services, Inc.- New YorkLoan FundNY39 W 37th St, New York, NY 10018https://www.trufund.org/
Upper Manhattan Empowerment Zone Devlop Corp-New YorkLoan FundNY55 W 125th St, New York, NY 10027https://www.umez.org/
Toledo Urban Federal Credit Union - ToledoCredit UnionOH1441 Dorr St, Toledo, OH 43607 https://www.toledourban.net/
Village Captital Corp-ClevelandLoan FundOH11327 Shaker Blvd #500w, Cleveland, OH 44104http://www.clevelandnp.org/
Beech Companies, PhiladelphiaLoan FundPA1510 Cecil B. Moore Ave Suite 300, Philadelphia, PAhttps://beechcompanies.com/
Meridian Management Loan FundPANot availableNot available
The Enterprise Center - PhiladelphiaLoan FundPA4548 Market St, Philadelphia, PA 19139 https://www.theenterprisecenter.com/
United Bank Of PhiladelphiaBankPA1501 N Broad St #17, Philadelphia, PA 19122https://www.ubphila.com/
Beaufort County Black Chamber of Commerce-BeaufortLoan FundSC711 Bladen St, Beaufort, SC 29902 http://www.bcbcc.org/
South Carolina Community Bank (Now Optus Bank)-ColumbuaBankSC4103 W Beltline Blvd, Columbia, SC 29204 https://optus.bank/
Citizens Savings-NashvilleBankTN2013 Jefferson St, Nashville, TN 37208http://www.bankcbn.com/
Knoxville Urban League-KnoxvilleLoan FundTN1514 E 5th Ave, Knoxville, TN 37917 https://www.thekaul.org/
Metropolitan Teachers Credit Union - NashvilleCredit UnionTN1605 Jefferson St, Nashville, TN 37208 https://metrotcu.com/
Nashville Firemen Credit UnionCredit UnionTN908 Woodland St, Nashville, TN 37206https://www.nashvillefirecu.org/
The Housing Fund-NashvilleLoan FundTN50 Vantage Way, Nashville, TN 37228 https://thehousingfund.org/
Tri-State Bank Of Memphis-MemphisBankTN4606 Elvis Presley Blvd, Memphis, TN 38116 https://www.tristatebank.com/
Houston Business Development-HoustonLoan FundTX5330 Griggs Rd, Houston, TX 77021 http://www.hbdi.org/
Texas Mezzanine Fund-DallasLoan FundTX320 S R L Thornton Freeway Service Rd, Dallas, TX 75203 http://www.tmfund.com/
Appalachian Community Capital-ChristiansburgLoan FundVA110 Peppers Ferry Rd NW, Christiansburg, VA 24073 https://appalachiancommunitycapitalcdfi.org/
Capital Impact Partners-Arlington Loan FundVA1400 Crystal Dr Suite 500, Arlington, VA 22202 https://www.capitalimpact.org/
Columbia Savings & Loan-MilwaukeeBankWI2020 W Fond Du Lac Ave, Milwaukee, WI 53205 https://www.columbiasavingsandloans.com/
Forward Community Investments-Madison Loan FundWI2045 Atwood Ave, Madison, WI 53704 https://www.forwardci.org/
LRC-Legacy Redevelopment Corp-MilwaukeeLoan FundWI1536 W North Ave, Milwaukee, WI 53205 https://www.lrcmke.com/

Take Action

Want to do more? Contact the African
American Alliance of CDFI CEOs.
Contact AAA of CDFI CEOs
Interested in investing in a Racial Justice Note to support Black-led CDFIs? Click below to register your interest and a team member will be in touch.
Contact Cnote

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