Programs & Events

Origins of the CDFI Movement

As a cofounder of the CDFI movement, Clifford (Cliff) Rosenthal wrote a masterwork on the history of community development finance in his book “Democratizing Finance, Origins of the Community Development Finance Institutions Movement”. It spans from Benjamin Franklin, through the first banking institutions for newly emancipated slaves, to the beginnings of the CDFI Fund, to current day, and then to where we go from here. In this webinar organized by CapNexus Cliff will be joined by other early innovators of the CDFI movement that were mentioned throughout the book, and they will share their roles and unique perspectives.
  • Michael Swack, Director, Center for Impact Finance, Carsey School of Public Policy, U. of New Hampshire, was one of the first interim board directors of the newly formed National Association of Community Development Loan Funds (NACDLF) that eventually was renamed to the Opportunity Finance Network (OFN).
  • Sister Corinne Florek, Executive Director, Religious Communities Impact Fund, Inc., led community develop efforts through her work with the Adrian Dominicans and the Women’s Initiative Fund. Over 30 years later, she is still in the forefront of religious congregations investing in CDFIs across the country.
  • Jeannine Jacokes, Chief Executive Officer, Partners for the Common Good, worked on Capitol Hill as a former staff member of the Senate Banking Committee, and then became the first member of the CDFI transition team that resulted in the CDFI Fund.

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