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What is a CDFI Bank?

Community Development Financial Institutions (CDFIs) are private financial institutions that are dedicated to promoting economic development by providing financial products and services to people and communities underserved by traditional financial institutions. There are only 100 CDFI certified banks in the country, and New Haven Bank is the only bank so designated in New Haven.

The mission of these specialized community-based financial institutions is to develop long-term relationships with the communities they serve in order to promote financial literacy and deliver affordable loans for community members and small businesses. Through helping citizens become more financially self-sufficient, CDFIs serve as catalysts for economic growth through community redevelopment.