CDR is a 501 non-profit Community Development Financial Institution (CDFI), as designated by the U.S. Department of Treasury's CDFI Fund.
What is a CDFI? Community Development Financial Institutions (CDFIs) are mission-driven private financial institutions specifically dedicated to, and whose core purpose is, providing financial products and services to people and communities underserved by traditional financial markets. They seek to bridge the growing gap that exists between the loans and services available to the economic mainstream and those offered to low-income people and communities, as well as the nonprofit institutions and businesses that serve them.
In addition, they serve a critical role in addressing issues of poverty and access to credit in economically disadvantaged communities by providing development services or technical assistance along with the loans and investments they make for community and economic development.
A CDFI may include a community development loan fund, credit union, bank, micro enterprise fund, corporation-based lender or venture fund.
