Cleveland Fed launches Investment Connection
The Cleveland Fed is pleased to announce the launch of Investment Connection, a tool to help community-based organizations find funding for their community and economic development projects. The tool features an online application portal and in-person events through which community-based organizations can propose projects that are likely Community Reinvestment Act (CRA)-eligible to financial institutions and other funders. Investment Connection is a new program within the Fourth District, which comprises Ohio and parts of Pennsylvania, Kentucky, and West Virginia. The Fourth District launch follows other Reserve Banks who have successfully used the program to advance projects and programs that focus on low- and moderate-income, distressed, and underserved communities.
Typical issues addressed in proposals include affordable housing, community services and facilities, small business development and workforce and economic development.
The Cleveland Fed will be holding CRA trainings, which will provide community-based organizations with information on Investment Connection, CRA, and other potential funding sources.
- August 15: Natural Bridge State Resort Park, Slade, Kentucky – Register
- August 20: Stuart’s Opera House, Nelsonville, Ohio – Register
Please visit www.clevelandfed.org/investmentconnection for more information.
Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.
The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.
Doug Campbell, email@example.com, 513.455.4479