Industry & Member News

MIT's Department of Urban Studies and Planning is researching how CDFIs and other economic development organizations are working with small businesses to address market opportunities or needs related to global climate change and the “green economy.” This means we need feedback from you and your organization about programming and activities. Please take 10 minutes to complete this brief, voluntary survey. Results will be shared with the OFN community and be made publicly available. The survey works well through Internet Explorer. Questions? Contact Karl Seidman at seidman@mit.edu or 617.253.3964, or Rebecca Economos at economos@mit.edu.

PeopleFund and Bank of America are proud to welcome Cecilia Estolano, Chief Strategist of State and Local Initiatives for Green for All, for an interactive discussion on “Rebuilding the Middle Class: The Clean Energy Economy as Engine for Social Equity”.

As Green Jobs take center stage in the national arena, the Clean Energy Economy has the potential to become a significant economic opportunity for low- to moderate-income communities. Ms. Estolano’s discussion will highlight how strategic, intentional and bold investments in clean energy and cleantech can not only get America back to work, but create career ladders to the middle class for low-income communities and people of color. Through strategic collaborations with sectors such as energy efficiency retrofits, renewable energy, transportation, waste and recycling, and urban manufacturing, the Clean Energy Economy offers promise for growth in well-paying, family-supporting jobs for underserved communities.

Officials at the U.S. Department of Agriculture (USDA) have approved a special set aside of $25 million in mortgage funds for low-income homebuyers in Central Appalachia through the Federation of Appalachian Housing Enterprises (FAHE) and its affiliates. Loans originated through this pilot program will feature payment assistance and interest rates as low as 1% to ensure affordable monthly payment. For those who qualify, 100% financing and alternative credit analysis are available.

In a new partnership with Cascade Sierra Solutions (CSS), Opportunity Fund has stepped in to provide extra financing and has already made $289,000 in loans to 24 truckers.

"We're working with truck drivers at the Port of Oakland who are the self-employed owners and operators of their trucks. These drivers make between $30-40,000 per year. The $12,000 cost to install a new engine filter and comply with these new regulations is beyond their reach. We're proud to be able to assist in an effort that gets truckers back on the road and improves the environment for these overly polluted communities" says Eric Weaver, CEO of Opportunity Fund.

Microfinance USA is the place where microfinance practitioners, investors, and enthusiasts meet. Drawing upon the overwhelming success and momentum generated by the 2009 Microfinance, CA conference, Microfinance USA will bring together investors, policymakers, social entrepreneurs, practitioners, small business owners, and curious individuals to explore how microfinance produces jobs, increases incomes, and creates opportunities to build stable and sustainable communities.

Visit www.microfinanceusa2010.org to learn more and register now. Early bird registration ends March 15th.

The Federal Reserve Bank of San Francisco's Center for Community Development Investments has just published a new issue of its journal, The Community Development Investment Review, which focuses on the intersection of health and community development.

This issue includes several proposals designed to "bend the health-care cost curve" using innovative community development strategies as well as ideas to positively affect social determinants of health to generate better health outcomes for low-income people. You can access the new issue of the Review online.

The Federal Deposit Insurance Corporation, Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco, Office of the Comptroller of the Currency, Office of Thrift Supervision and Community Development Financial Institutions Fund invite you to register for the 2010 National Interagency Community Reinvestment Conference.

To access the full agenda and to register online, please follow this link: http://www.frbsf.org/community/conference2010.html.

The Federal Reserve is committed to communicating with the public during these difficult economic times. We'd like to share a new online resource -- The Economy: Crisis & Response.

Whether you're looking for a general overview of the mortgage meltdown or want to delve deeper into economic research, we encourage you to visit us at FRBSF.ORG to learn more about the economy and the role of the Federal Reserve.

PeopleFund is delighted to welcome Lisa Servon, Dean of Milano The New School for Management and Urban Policy in NYC, and author of several books, including Gender and Planning: A Reader (Rutgers 2006), Bridging the Digital Divide: Technology, Community, and Public Policy (Blackwell 2002), and Bootstrap Capital: Microenterprises and the American Poor (Brookings 1999).

An expert on urban poverty and community development, Dean Servon will be discussing microcredit models in the United States and developing countries with emphasis on opportunities for innovative lending in underserved communities.

Email ayleen@peoplefund.org for more information.

Building on the success of our inaugural event in March 2009, the 2nd annual FT Investing in a Sustainable Future international conference will once again bring together thought leaders in Corporate Responsibility and ESG investing for a day of discussion. Online registration is now available.