Message from the Director

CDFI Publish Date

 It's such a pleasure to have this opportunity to update community development organizations across the country on the CDFI Fund's recent progress and activities. The year 2013 may be only a month old, but the CDFI Fund has been busy with fiscal year 2013 since October 1, 2012.

At the end of 2008, during the worst financial crisis in over 50 years, the CDFI Fund's Community Development Advisory Board formed a special subcommittee to examine the crisis and its effect on CDFIs across the United States.

​ I am pleased to report that there have been several exciting new developments at the Community Development Financial Institutions Fund (CDFI Fund) and the U.S. Department of the Treasury since my last message, and more are on the way in the months to come.

The beginning of a new year is always a good time to pause a moment to reflect on the journey we have just completed as well as on the road that lies ahead.

In my Message from the Director in January 2011, I stated that, as remarkable as the CDFI FundŐs accomplishments were in 2010, we were committed to reaching even higher in 2011.

The conclusion of 2010 marks the end of a momentous year for the CDFI Fund. This year saw both the fifteenth anniversary of the CDFI Fund and the tenth anniversary of the New Markets Tax Credit. Both of these milestones attest to the stability and resilience of our still young organization.

As we near the mid-point of the fourth quarter of the 2010 fiscal year, the CDFI Fund continues to build on the strong foundation we have established since our inception.

The New Year marked the end of the first quarter of fiscal year (FY) 2010, and a good time to look ahead so that we are prepared to achieve the ambitious goals we set this year.

Today, as the CDFI Fund concludes fiscal year (FY) 2009, we look back on twelve months of unprecedented challenges and many great accomplishments.

At this mid-point in our fiscal year, I recently reflected on the Director's message I wrote last October in which I stated, ŇThe role that CDFIs play in serving distressed communities is more important than ever.Ó That phrase is something I've echoed a lot over the last six months, to anyone and