December 21, 2011
FOR IMMEDIATE RELEASE
For more information contact:
Community Reinvestment Fund, USA
Contribution allows CRF to bring financing to even more underserved communities across the country
MINNEAPOLIS - December 21, 2011 - Community Reinvestment Fund, USA (CRF), a non-profit organization that connects community development lenders with the capital resources of Wall Street, today announced it received a $50,000 grant from MetLife Foundation. This is the third grant MetLife Foundation has made to CRF.
The grant will help support CRF's suite of financing tools that are designed to create economic opportunity in low-income and underserved communities through small business expansion, small business "greening," affordable housing, and other programs.
"We are thrilled to continue working with MetLife Foundation as we strive to put the American Dream within reach of even more people, especially families living and working in low-income communities," said Frank Altman, president and chief executive officer of CRF. "MetLife Foundation has been an excellent partner and resource for CRF, and our job creation and affordable housing efforts will be able to touch many more families thanks to their support."
With market conditions affecting credit availability and more distressed communities seeking capital than ever before, CRF's mission-driven financing programs remain especially important to expanding economic opportunity during these tumultous economic times. Since 1988, CRF has helped drive more than $1.3 billion in private capital to underserved communities, directly benefitting more than 511,000 people including creating or retaining nearly 47,000 jobs.
"CRF is a steadfast leader in helping low-income communities become stronger socially and economically, and we share their commitment to community revitalization and empowerment," said Dennis White, president and CEO, MetLife Foundation. "MetLife Foundation shares CRF's vision of building a stronger community by supporting projects and businesses that can lead the charge on expanding economic opportunity for everyone."
Community Reinvestment Fund, USA (CRF), a non-profit organization and certified Community public and private, non-profit community development lenders through the secondary market for community development loans. Formed in 1988, CRF has injected more than $1.3 billion into low-income and economically disadvantaged communities
around the country to help stimulate job creation and economic development, provide affordable housing, and support community facilities. CRF is headquartered in Minneapolis, Minn. www.crfusa.com.
About MetLife Foundation
MetLife Foundation was established in 1976 to carry on MetLife's longstanding tradition of corporate contributions and community involvement.
The Foundation is committed to building a secure future for individuals and communities worldwide. Through programs focusing on empowering older adults, preparing young people and building livable communities, MetLife Foundation increases access and opportunities for people of all ages. Since it was established, MetLife Foundation has made more than $500 million in grants and $75 million in program related investments. For more information visit www.metlife.org
Posted by: CRFUSA