News from CRF

July 7, 2010

Community Reinvestment Fund, USA Receives $50,000 Grant from Richard and Ethel Herzfeld Foundation


For more information contact:

Katelyn Bednarski
Community Reinvestment Fund, USA
612-305-2550 612-990-7328

David Hlavac

Contribution will support CRF involvement in comprehensive community development in Milwaukee, Wisc.

MINNEAPOLIS - July 7, 2010 - 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 contribution from the Richard and Ethel Herzfeld Foundation. This is the latest in a series of grants made to CRF by the Milwaukee-based foundation.

The Herzfeld Foundation contribution will help CRF further develop its comprehensive community development initiatives in distressed communities throughout Milwaukee.

"We are grateful for the Herzfeld Foundation's continued support of CRF's mission," said Frank Altman, president and chief executive officer for CRF. "This contribution will support our ongoing efforts in Milwaukee to expand small businesses and community facilities, bringing jobs and other vital resources to underserved communities within Milwaukee."

With market conditions affecting credit availability and more distressed communities seeking capital than ever before, CRF is uniquely able to initiate economic recovery at the grassroots level. Since 1988, CRF has helped drive more than $1.1 billion in private capital to underserved communities, serving more than 200,000 individuals and creating or retaining nearly 45,000 jobs.

"Small businesses, educational facilities and other community facilities play a vital role in building vibrant communities," said William Haberman, president of the Herzfeld Foundation. "We are proud to support CRF's role in developing this important infrastructure in Milwaukee's low-income communities."

About CRF

Community Reinvestment Fund, USA (CRF), a non-profit organization and certified Community Development Financial Institution, is the nation's leader in bringing capital to public and private, non-profit community development lenders through the secondary market for community development loans. Formed in 1988, CRF has injected more than $1.1 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.

About the Richard and Ethel Herzfeld Foundation

Established in 1973, the Richard and Ethel Herzfeld Foundation supports arts and culture, education, and civic improvement in the greater Milwaukee, Wisc. area. Believing that access to arts and cultural opportunities and value-added educational programs are vital to the well being of a community, the foundation provides grant funding to a variety of organizations.

Posted by: CRFUSA


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