You may have seen the latest data from the U.S. Census Bureau which reveals that poverty levels in the U.S. continue to hover at historically high levels. With nearly one in six Americans living in poverty, the new book, Investing In What Works for America’s Communities, aims to shed light on the most promising ideas that can rebuild struggling rural and urban communities.
A joint project of the Federal Reserve Bank of San Francisco and the Low Income Investment Fund, Investing In What Works is a collection of essays from authors from across the community development spectrum, and includes the perspective of leaders from the private, nonprofit, philanthropy, and government sectors. Among the essays in the book, CDFIs are highlighted throughout as an essential partner with the capacity, expertise and track record of success to help create opportunities and pathways out of poverty:
“As active agents of social and economic change, CDFIs and community development organizations have successfully attracted large-scale support from private financial institutions, from banks to insurance companies to hedge funds. The opportunities that open for low-income communities and their residents because of these efforts include small business development, job training and creation, retail and commercial services, safe and affordable homes, improved education, new community health clinics, transit-oriented developments, green financing, and many successes in venture capital investing, the arts, recreational space, and an array of community facilities.”
The book is available for free on the Investing In What Works website. We look forward to discussing these ideas and more with our CDFI colleagues and partners at the upcoming Opportunity Finance Network Conference in San Antonio, TX.
What ideas are working in your area of the country to help lift people out of poverty and strengthen your local community?