10 Innovative U.S. Finance Institutions Picked to Compete for $8.25 Million Wachovia NEXT Awards for Opportunity Finance [USA]

Author: Wachovia NEXT Awards - Wachovia Foundation & Opportunity Finance Network, Published on: 4 August 2008

...10 U.S. community development financial institutions (CDFIs) are semifinalists for $8.25 million [in award] to scale up their success. CDFIs are special purpose financial institutions skilled at creating opportunities and economic growth in hard-to-serve markets across the nation. This year's contenders serve diverse urban and rural populations and offer potent antidotes to the lending practices that led to today's financial markets crisis... The Wachovia NEXT Awards for Opportunity Finance recognize excellence among financial institutions that responsibly serve low-income and low-wealth people and communities... The 10 semifinalists for 2008 are: ASI Federal Credit Union, Harahan, La.; Community First Fund, Lancaster, Pa.; Corporation for Supportive Housing, New York; Homewise, Inc, Santa Fe, N.M.; IFF, Chicago, Ill.; Lower East Side People's Federal Credit Union, New York; Low Income Investment Fund, San Francisco, Calif.; Neighborhood Housing Services, Chicago, Ill.; New Hampshire Community Loan Fund, Concord, N.H.; Southern Bancorp, Arkadelphia, Ark.

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Related companies: Wachovia (part of Wells Fargo)