Today the City of South Bend, Indiana, announced the details of the June 4th CDFI Friendly South Bend event that Mayor Pete Buttigieg will lead. The full text of the City’s press statement appears below.
June 3, 2019
BUTTIGIEG LEADS SOUTH BEND IN BECOMING A CDFI-FRIENDLY CITY
On Tuesday, June 4, local stakeholders from banks, credit unions, and community organizations will join national experts from the Community Development Financial Institution industry to discuss the possibility of South Bend becoming a “CDFI Friendly City.”
CDFIs are mission-driven lenders with the potential to help residents seeking funding for personal credit building, small business support, home mortgages, and other financial needs. CDFIs perform similar functions to banks but are governed by different federal rules that allow them to be profitable but not profit maximizing. A “CDFI Friendly City” seeks to connect local investment opportunities to CDFI lenders by contextualizing the local financial landscape and incentivizing equitable development.
“From the librarian-turned-independent bookseller to the startup eliminating obstacles to financing homeownership, South Bend has proven it has the ideas to develop a more inclusive community,” said Mayor Pete Buttigieg. “CDFIs will be another tool in fulfilling the vision of equal opportunity for residents.”
The gathering will take place at the Century Center. Attendance will be limited to invited guests and the news media. Media members are asked to check in at the registration table on the lower level. There will be media availability following the first panel.
Who: Mayor Pete Buttigieg, Mayor John Hamilton of Bloomington, CDFI industry experts
What: Investing in Our Future: Expanding South Bend’s Commitment to Inclusive Economic Growth
When: Tuesday, June 4; Mayor Buttigieg and Mayor Hamilton will be available to the press from 11:15 a.m. to 11:30 a.m.; opening remarks and first panel will be 9:45 a.m. to 11:15 a.m.
Where: Century Center, Suites 12-14, 120 Doctor M.L.K. Jr Blvd.