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More thank just money

More thank just money. July 29, 2010. Mission of Community Affairs. Community Affairs supports the Federal Reserve System’s economic growth objectives by promoting: Community economic development Fair and impartial access to credit, and

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More thank just money

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  1. More thank just money July 29, 2010

  2. Mission of Community Affairs • Community Affairs supports the Federal Reserve System’s economic growth objectives by promoting: • Community economic development • Fair and impartial access to credit, and • Access to mainstream banking services by the historically underserved. • Efforts are focused on researching challenging issues facing low- and moderate-income communities and collaborating with key stakeholders to explore solutions. • Key stakeholders include financial institutions, community development organizations, business support organizations and government leaders.

  3. Community Affairs Focus Areas Community Development Investments: We work with banking institutions on Community Reinvestment Act requirements and introduce them to investment, lending and service opportunities available in their communities. Consumer Financial Stability: We support financial education for consumers and help those in LMI communities build assets. Economic Development:We support and promote effective economic development strategies in areas such as workforce development, entrepreneurship and small business. Neighborhood Stabilization: We focus on initiatives such as homebuyer education, foreclosure mitigation and solutions to stabilize neighborhoods. Sustainability for CDOs: We work with organizations on capacity building initiatives and on ways to help agencies connect with each other to share resources and expertise.

  4. Molly McGrath Community Affairs Advisor Federal Reserve Bank of Kansas City – Omaha Branch 2201 Farnam Street Omaha, NE 68102 402-221-5606 Molly.McGrath@kc.frb.org

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