Plans for CDFI Week of Action June 8th!

Plans for CDFI Week of Action June 8th!

The CDFI Coalition and its partners have been working to increase resources for CDFIs in COVID-19 related federal legislation. The House passed Health and Economic Recovery Omnibus Emergency Solutions, or HEROES Act (H.R. 6800), proposes $1 billion in funding for the CDFI Fund, which is expected to be taken up by the Senate in mid- to late-June. We are calling on the industry to help raise awareness on the important role CDFIs can and do play in economic revitalization and why providing $1 billion in funding is a smart federal investment.

The Coalition will be sharing blog posts and highlights of our members' work during the week of June 8th, and we need your help to make this Week of Action a great success. Below are some action ideas and resources you can use to create your own posts for the week and call for more federal resources for CDFIs responding to the pandemic.

Congressional Outreach

Email the letter from 500 mission-driven lenders to your Members of Congress and ask them to support $1 billion for the CDFI Fund
Find my Member of Congress and/or email ayrianne@rapoza.org for congressional staff contact.
Tag your Member of Congress in Facebook or Twitter posts with links to success stories and ask them to invest in CDFIs
- GovTrack has links to their Twitter and Websites where you can find their social media accounts!
Use the OFN Twitter tool to find and tweet at your member of Congress and the Administration to urge support for CDFIs responding to COVID-19

Engage Traditional Media

Write an op-ed or letter to the editor for your local media. Check out some tips!
Share the organization and Senate sign-on letters below calling for $1 billion for CDFIs with local media (Letters linked in the resources below).
Reach out to local reporters covering topics related to your work and share what you are doing to help--be sure to include the CDFI fact sheet and link to the organization sign-on listed in the resources below.

Social Media Actions

To follow along and participate in this Week of Action on Facebook and Twitter, use # HEROESAct #CDFIsInvest #COVID19 #KeepCDFIsStrong.
Use free tools like Canva to create infographics on your work or use infographics from the CDFI Coalition.
Tag your Member of Congress in Facebook or Twitter posts with links to success stories and ask them to invest in CDFIs
- GovTrack has links to their Twitter and Websites where you can find their social media accounts!
Use the OFN Twitter tool to find and tweet at your member of Congress and the Administration to urge support for CDFIs responding to COVID-19.
Post on why $1 billion is key and link to the organization and Senate sign-on letters below calling for $1 billion for CDFIs (Linked in the resources below).
Write a blog post and share it through your social and professional networks. CDFI Coalition will be sharing posts on its blog throughout the week that you can also share.

Resources

Whether you have just a few minutes or an hour to devote to taking action, we encourage the CDFI community to join us in this effort to raise the visibility of the CDFI Fund Programs and the impact CDFIs are making nationwide.

CDFI Fund Opens FY20 Capital Magnet Fund Round

The CDFI Fund the fiscal year (FY) 2020 funding round for the Capital Magnet Fund. In this round, the Fund expects to provide up to $173.8 million in awards to finance affordable housing, as well as related economic development and community service facilities.

The objective is to attract private capital to economically distressed communities, including underserved rural areas. Funding for the Capital Magnet Fund comes from allocations made by the Government-Sponsored Enterprises Fannie Mae and Freddie Mac and varies from year to year.

For dates and details on how to apply, please see the full CDFI Fund announcement.

Message sent on behalf of the CDFI Coalition