Self-Help Ventures Fund, a financing affiliate of the Durham, N.C.-based Center for Community Self-Help, has become the Federal Home Loan Bank of Atlanta's first community development financial institution (CDFI) loan fund member and the first CDFI-affiliated organization to join a federal home loan bank.
In January, the Federal Housing Finance Agency implemented provisions of the Housing and Economic Recovery Act of 2008 that permitted qualifying CDFIs to become members of a Federal Home Loan Bank. Since January, the Atlanta bank has worked with Self-Help's leadership to bring the fund through the membership process.
‘We have worked for 10 years to make this partnership possible, and together with the Federal Home Loan Bank of Atlanta, we believe we can provide the financing that will enable thousands of well-qualified homeowners to buy their first homes,’ says Martin D. Eakes, CEO of the Center for Community Self-Help.
SOURCE: Self-Help Ventures Fund