Capital Impact Partners Joins Federal Home Loan Bank of Atlanta Cooperative

ARLINGTON, Va. and ATLANTA, March 19, 2015 /PRNewswire/ -- Capital Impact Partners today announced that it has joined the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions and insurance companies. As an FHLBank Atlanta member, Capital Impact has access to the competitively priced financing, community development grants and other banking services that help the more than 900 of the Bank's member financial institutions grow and prosper.

"We are thrilled to become a member of Federal Home Loan Bank of Atlanta," said Ellis Carr, Chief Financial Officer at Capital Impact Partners. "They provide important services which allow us to be more nimble, creative and flexible in meeting the variety of needs of our borrowers developing projects in low-income communities across the country."

Although there are more than 800 Community Development Financial Institutions (CDFIs) nationwide, Capital Impact is one of only approximately 30 that make up the 7,400 member institutions in the FHLBank System. This achievement demonstrates the growing leadership that CDFI's have in the financial industry to drive both financial and social impact.

As of January 2010, CDFIs were authorized to become members of the Federal Home Loan Bank System. Eligible CDFIs include community development loan funds, venture capital funds, and state-chartered credit unions without federal insurance that are certified under the CDFI Act and the U.S. Treasury Department's CDFI Fund. Eligible CDFIs must also make long-term home mortgage loans.

"We are pleased to have Capital Impact as our newest CDFI member," said Scott Brennan, FHLBank Atlanta's Director of Sales. "We look forward to a strong partnership that will contribute to Capital Impact's success and help further the FHLBank Atlanta mission."

"Having access to the capital provided by the Federal Home Loan Bank of Atlanta allows us to create more social impact by increasing financing options for projects in low-income communities," said Scott Sporte, Chief Lending Officer at Capital Impact Partners.

Capital Impact Partners delivers strategic financing, program incubation and capacity-building to ensure that low- to moderate-income individuals have access to quality health care and education, healthy foods, affordable housing and dignified aging options. A national nonprofit community development financial institution, Capital Impact Partners has disbursed more than $2 billion to revitalize communities over the last 30 years. Learn more at www.capitalimpact.org

SOURCE Capital Impact Partners

Related Links

http://www.ncbcapitalimpact.org

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