Prime Coalition (Prime) is a nonprofit organization on a mission to unlock catalytic capital and change the future of climate finance. “We’ve been catalyzing climate solutions for over a decade, enabling innovation that holds the potential of mitigating gigaton-scale greenhouse gas emissions” says Prime.
In 2023, Prime partnered with CNote to help achieve their goal of aligning financial priorities with organizational values. At the time, Prime had mobilized over $35MM in catalytic capital for Azolla Fund I to be deployed into climate solutions that hold the potential for large-scale greenhouse gas reductions and a more just climate for all.
“Throughout this partnership, the CNote team has offered superior customer service and bespoke solutions to maximize impact and financial goals for our programmatic work. Specifically, they have reduced our financial risk through FDIC-insured laddered deposits and fixed-income solutions, developed an investment plan to meet our liquidity policy, and provided dependable investments to underserved community finance partners while delivering competitive returns. CNote has allowed us to realize a double impact with our catalytic capital: supporting under-resourced communities until deployed for Prime’s Azolla Fund I program!”
Prime Coalition’s Impact Cash Deposits
“We are grateful for these ways that our CNote Impact Cash deposits have made an impact in communities across the United States before they are deployed for Prime’s Azolla Fund I program”
Prime’s Impact Cash deposits at CNote have supported 89 banks and credit unions that offer responsive and affordable financial products and services to low- to moderate-income communities , and other under-resourced groups.
- 60% of the banks and credit unions are in underserved areas;
- 42% have an underrepresented CEO/President;
- 50% of their senior management are women; and
- 24% of their staff are bilingual.
72% of Prime’s Impact Cash deposits were deployed in communities as loans. Some of the financial products these banks offer include:
- consumer loans to increase transportation and access to jobs
- wealth-building through homeownership
- small business lending initiatives
- green financing to support access to affordable and clean energy
“Our partnership with CNote has contributed to our long-term success by building a scalable solution specific to our mission and values. For example, we are in the process of opening a second CNote account to support our new catalytic investing program that will mobilize catalytic capital for market-driven climate solutions that align with Prime’s eligibility requirements. We deeply appreciate CNote’s impact approach and the way they show up in every interaction with our team with care, humility, and tenacity.”
