New Haven Bank to Open New Branch in West Haven
New Haven Bank will open its second branch in West Haven in late October to early November as part of its goal to aid underserved communities.
New Haven Bank Had Record Charitable Giving
New Haven Bank made charitable donations in 2022 of more than $50,000, its largest annual donation amount since the bank’s founding in 2010.
New FDIC Vehicle Will Support MDIs, CDFIs
A new investment vehicle designed by the Federal Deposit Insurance Corp. will let financial institutions and other organizations provide capital to insured Minority Depository Institutions and Community Development Financial Institutions that will then request funding through a “pitch process.”
Helping MDIs and CDFIs Build Homeownership
Paul Katz is leading an initiative at Promontory MortgagePath to support CDFIs and minority depository institutions in their efforts to expand homeownership in underserved communities.
Capital for Change Receives $1M in Financing From Liberty Bank
Capital for Change, a Wallingford-based community development financial institution, has received $1 million in new funding from Liberty Bank for an ongoing effort to help underserved populations in Connecticut.
CT CDFIs Receive $12M in Covid Relief Funding
Several Connecticut-based community development financial institutions (CDFIs) will receive more than $12 million in COVID-19-related funding from the U.S. Department of the Treasury. The grants are part of a $1.25 billion program to provide COVID-19 relief funds to 863 CDFIs nationwide.
Promontory MortgagePath Partners With MDIs, CDFIs
Danbury-based Promontory MortgagePath LLC has launched its initiative to support community development financial institutions (CDFIs) and minority depository institutions (MDIs), with Industrial Bank and Optus Bank as the first participants.
Capital for Change Receives $2M from Impact Investor
Capital for Change Inc., a Wallingford-based community development financial institution, has received $2 million from the impact investing platform CNote to fund affordable housing, small business and energy efficiency projects in Connecticut.
Bill Would Provide $12M in Investments, Support to CDFIs and MDIs
Along with reviving the Paycheck Protection Program, the COVID-19 aid bill that Congress is expected to vote on today would provide additional funding for MDIs and CDFIs.
Helping Immigrants Through the Pandemic
As Kathy Chartier led Greenwich-based Members Credit Union through a tumultuous 2020, she kept the institution focused on helping its community, and in particular the Latinx immigrants who form a core part of its membership and who have suffered hammer blows at the hands of COVID-19.
Promontory MortgagePath to Partner with MDIs, CDFIs
Danbury-based Promontory MortgagePath LLC has launched an initiative to support minority depository institutions and community development financial institutions in their efforts to expand access to credit and homeownership in underserved communities.
Taking Care of New Haven’s Small Businesses
As CEO of New Haven Bank, the state’s only FDIC-insured CDFI, Diane Burke is leading the a crucial part of the state’s financial system as the coronavirus’ economic shocks buffet Connecticut.
Community Banks Urged to Help Black, Latinx Economies Rebuild
Black and Latinx communities have been disproportionately affected by the coronavirus pandemic while facing challenges throughout the economic crisis. For Berkshire Bank’s Malia Lazu, community banks will have a key role in working with these populations to help them rebuild and thrive in the economy.
Connecticut CDFI Receives Treasury Grant
Capital for Change, a Wallingford-based community development financial institution, has received a $650,000 grant from a U.S. Department of the Treasury program that supports CDFIs nationwide.
Three Connecticut Financial Institutions Receive CDFI Money
New Haven-based Start Community Bank, Rocky Hill-based Nutmeg State Financial Credit Union and Capital for Change all received financial awards from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund.
