Community Development Financial Institution - CDFI

CDFIs are private banks dedicated to serving the low and moderate income population of their communities.

Think: a different kind of local "developing market."

Low-to-moderate income is classified as at or below 80% of the area’s median income (you can imagine what the CDFI is like in Atherton, CA, the wealthiest part of Silicon Valley). CDFIs are the financial backing involved in the production of low-income housing programs (both rental and owner occupied), economic development grants, and loans to start business in low and moderate communities, as well as other community betterment programs. Benevolent banking at its best.