CDFI Certification is a designation given by the CDFI Fund to specialized organizations that provide financial services in low-income communities and to people who lack access to financing. CDFI organizations then invest back into the local community. These organizations include regulated institutions such as community development banks and credit unions and non-regulated institutions. By building a network of CDFIs, the CDFI Fund works to empower low-income and underserved people and communities to enter the financial mainstream.
Why is NorthPark Excited?
As a CDFI, NorthPark puts the community first and values local growth. To be eligible for certification as a CDFI, financial institutions must adhere to stringent requirements such as offering services for development, remaining accountable to their main target market, and striving to promote development within their communities. Being a CDFI, NorthPark is excited to invest in local communities and the residents by providing critically needed financing often unavailable from conventional financial institutions.
“I am passionate about giving people opportunity, not just hope. Hope is many times just words, while creating opportunities is 50/50. We can create opportunities, but you have to act on it. I also see the importance of being the voice for those that are not heard. Many times these individuals are taken advantage of in laws and by other organizations. It's my personal mission to make sure I do whatever I can to protect them from predators in the banking industry and even in laws that prohibit them from opportunities.”
-- Carma Parrish, NorthPark President and CEO