BLOOMINGTON – German American Bank has made a donation of $60,000 to CDFI Friendly Bloomington, Inc.
The check was presented to Executive Director Brian Payne by members of the German American Bank Bloomington team. Community Development Financial Institutions (CDFIs) share a common goal of expanding economic opportunities in low-income communities by providing access to financial products and services for local residents and businesses.
German American Regional President and CDFI Friendly Bloomington Board Member Cindy Kinnarney has played an integral role in advocating for Bloomington to become the nation’s first “CDFI Friendly” city. This approach has helped to draw financing to the unique challenges of smaller communities.
“We saw the need for local financing beyond what local banks could provide,” states Cindy. “Support for CDFI Friendly Bloomington, whether it be impactful monetary donations like this one or the donation of time and resources, helps provide lending services to low-income, low-wealth, or disadvantaged communities who otherwise would have difficulty accessing traditional lines of credit.”
German American Bank’s $60,000 donation will help fund CDFI Friendly Bloomington’s mission to identify opportunities and provide technical assistance, financing incentives, and gap financing for businesses, nonprofits, affordable housing, and community projects in Bloomington, IN and Indiana Uplands region.