PAST AWARDS
-
FY 2017 BEA Program Award Book
Jun 27, 2018 -
FY 2018 BEA Program Award Book
Dec 19, 2018 -
FY 2016 BEA Program Award Book
Sep 22, 2017
ShareCDFI Fund Announces More Than $18.6 Million in Bank Enterprise Awards for Investment in Low-Income Communities
August 17, 2017
Washington – Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced more than $18.6 million in awards to 102 FDIC-insured financial institutions serving economically distressed communities across the nation. These funds, awarded under the fiscal year (FY) 2016 round of the Bank Enterprise Award Program (BEA Program), will support community and economic development activities in census tract areas where at least 30 percent of the population lives at or below the national poverty level and where the unemployment rate is at least 1.5 times the national average. The award recipients were selected after a comprehensive review of 116 applications requesting $145.6 million in funding.
“I applaud the banks and thrifts being awarded today for increasing their lending, investing and vital financial services in low-income communities across the nation,” said CDFI Fund Director Annie Donovan. "Through both direct investment and by supporting Community Development Financial Institution partners, these institutions are making a real difference in highly distressed communities across the nation.”
Today’s awards will build on efforts to increase investments in underserved communities. Collectively, during the one-year assessment period, these 102 depository institutions increased their loans and investments in distressed communities by $285.5 million; increased their loans, deposits, and technical assistance to Community Development Financial Institutions (CDFIs) by $41 million; increased their equity and equity-like loans and grants to CDFIs by $8.8 million; and increased the provision of financial services in highly distressed communities by $3.5 million.
The more than $18.6 million awarded under the FY 2016 round of the BEA Program today will be re-invested into distressed communities and CDFIs by BEA Program award recipients.