What it means to be a CDFI
Community Development Financial Institutions – or CDFIs – are mission-driven financial institutions that are dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities.
- CDFIs invest in local communities and the residents who live there by providing critically needed financing often unavailable from mainstream financial institutions.
- CDFIs are certified by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund – known as the CDFI Fund. In order to become a certified CDFI, the financial institution must: have a primary mission of promoting community development; provide financial products and services; serve one or more defined low-income target markets; maintain accountability to the community it serves; and be a legal non-governmental entity.
- All CDFIs share a common mission of serving low-income communities. CDFIs are commonly loan funds, credit unions, community banks, or venture capital funds.
- Certified CDFIs are part of a national network promoting economic growth in America’s underserved communities by financing businesses, creating jobs, and rebuilding neighborhoods.
- As a CDFI, MBF puts the community first and values local, economic growth.
MBF is proud to announce our 2020 M-DCPS Scholarship recipients! Congratulations to these exceptional City of Miami students. Thank you to the hardworking teachers, CAP advisors, parents, and mentors who continue to guide these students towards their college goals. #MDCPSGrad https://t.co/zExnWketAv
Another 850 Face Shields boxed and ready to get sanitized by @miamimedcovidhelp and then delivered to the VA Hospital and Hialeah Hospital. #ppe #faceshield #covid19 #coronavirus #osms @CokeFlorida @knightfdn @MiamiFoundation @MiamiBaysideFo https://t.co/9zGzawGZvI
Make a Donation
By contributing to MBF you have an opportunity to impact job creation, encourage economic development and improve the future of Miami.