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Community Development Financial Institutions Fund
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2011 Native Economic Development Workshop Series Open for Registration
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May 23, 2011

Washington, DC - The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is proud to announce an expanded and enhanced intergovernmental workshop series to promote economic development in Native American communities across the country. Titled Growing Economies in Indian Country: Taking Stock of Progress and Partnerships, the workshop series builds upon last year’s efforts of the CDFI Fund and the Federal Reserve by drawing multiple federal partners and local stakeholders into the discussion about best economic and community development practices for Native communities. Registration for these workshops opens today.

The workshops will focus on three key subject areas—governance and infrastructure, small business finance, and general economic development issues—and are designed to provide networking opportunities with regional, state, and local economic and community development professionals. In addition, workshop participants will be encouraged to:

  • Share their views and identify existing challenges to economic development in Indian Country;
  • Identify best practices and solutions that address these challenges; and
  • Discuss and learn about federal and regional Native economic development initiatives and programs that are aimed at providing assistance to tribal governments and tribal and independent businesses.

The one-day workshops are being conducted by the CDFI Fund, the Board of Governors of the Federal Reserve System, and the Federal Reserve Banks of San Francisco, Minneapolis, Chicago, and Boston, along with other federal agencies. The dates and locations for the 2011 workshops follow:

June 28, 2011 Phoenix, Arizona
July 19, 2011 San Diego, California
July 21, 2011 Portland, Oregon
August 30, 2011 Billings, Montana
September 20, 2011 Bangor, Maine
September 22, 2011 Lac du Flambeau, Wisconsin

“The Growing Economies in Indian Country workshop series will continue the efforts of the CDFI Fund and our partners to draw attention to and discuss solutions for the economic development needs in distressed Native communities,” said CDFI Fund Director Donna J. Gambrell. “Last year’s workshops successfully brought key stakeholders in economic and community development together to network and strategize local solutions. This year’s workshops will continue that successful model while expanding to include new federal agency participation and a broader schedule of workshops for organizations to attend.”

"The Federal Reserve System is pleased to join federal agency partners in organizing this series of economic development workshops," said Federal Reserve Board Governor Elizabeth A. Duke. "Workshop participants will share information and perspectives on strategies to meet the short- and long-term needs of Indian Country. The series will build upon the work of our regional Federal Reserve Banks of San Francisco, Minneapolis, Chicago and Boston to support local economic development opportunities in Native American communities."

The workshops are free; however, advance registration is required. For more information about the series, and to register for a specific workshop please visit: http://www.frbsf.org/community/resources/2011/0601-Growing-Economies-in-Indian-Country/index.html

The following federal agencies are partnering with the CDFI Fund and the Federal Reserve System at this time:

  • U.S. Department of Agriculture, Rural Development;
  • U.S. Department of Commerce, Office of the Secretary and Economic Development Administration;
  • U.S. Department of Health and Human Services, Administration for Native Americans;
  • U.S Department of Housing and Urban Development, Office of Native American Programs;
  • U.S. Department of Interior, Bureau of Indian Affairs, Indian Energy and Economic Development;
  • U.S. Small Business Administration, Office of Native American Affairs;
  • Office of the Comptroller of the Currency; and
  • Federal Deposit Insurance Corporation

About the CDFI Fund
Since its creation in 1994, the CDFI Fund has awarded almost $1.3 billion to CDFIs, community development organizations and financial institutions through CDFI Program, the Bank Enterprise Award Program, and the Native Initiatives. In addition, the CDFI Fund has allocated $29.5 billion in tax credit authority to Community Development Entities through the New Markets Tax Credit Program.

About the CDFI Fund’s Native Initiatives Through its Native Initiatives the CDFI Fund works to increase access to credit, capital, and financial services in communities by creating and expanding CDFIs primarily serving Native communities. This is achieved through two principle initiatives: (1) a funding program – the Native American CDFI Assistance Program, or NACA Program – targeted to increasing the number and capacity of existing or new Native CDFIs; and (2) training programs under the CDFI Fund’s Capacity Building Initiative that seeks to foster the development of new Native CDFIs, strengthen the operational capacity of existing Native CDFIs, and guide Native CDFIs in the creation of important financial education and asset building programs for their communities.

For more information about the CDFI Fund or its Native Initiatives, please visit: www.cdfifund.gov.

About Community Development at the Federal Reserve System
The Federal Reserve’s Community Development function was established in 1981 to help financial institutions meet their obligations under the Community Reinvestment Act (CRA). The System’s Community Development offices across the country — composed of more than 120 employees — perform many functions, including:

  • Helping banks identify regional credit needs and lending opportunities in low- and moderate-income (LMI) communities;
  • Forging partnerships and sharing information to promote sustainable community development;
  • Producing research and data analysis to help close gaps in information needed to improve the economic strength of LMI communities; and
  • Providing information and promoting awareness of investment opportunities for financial institutions, government agencies, and organizations that serve these communities.

By furnishing valuable information on the dynamics of LMI communities, Community Development complements the Federal Reserve System’s work as a research institution.

For more information, visit http://www.federalreserve.gov/communitydev/default.htm

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