NEW ORLEANS – More than 90 leaders of Black-led Community Development Financial Institutions (CDFIs) from across the country concluded the African American Alliance of CDFI CEOs annual conference in New Orleans by celebrating Juneteenth and reaffirming their commitment to expanding economic opportunity.
Held June 16-18, the conference intentionally overlapped with the Juneteenth holiday, bringing together executives from Black-led financial institutions that finance small businesses, affordable housing and community development projects in historically underserved communities.
“We try to strike a balance. These are CEOs, leaders who largely work in silos in their cities or target market, so the annual conference is a safe space for them to let their hair down a little bit and just be themselves,” said Amber Banks, president and CEO of the African American Alliance of CDFI CEOs.
Coordinating a National Agenda
One of the conference’s biggest moments came during a policy luncheon featuring former U.S. Rep. Cedric Richmond.
“One of the biggest highlights this year was the former U.S. Rep., Cedric Richmond,” said Banks. “His remarks really resonated with all of the attendees. He’s so down to earth, funny and engaging, but also very real.”
Banks said Richmond encouraged attendees to help develop an actionable Black economic agenda that organizations across sectors can pursue together rather than independently. She said issues such as banking access, homeownership, health outcomes and infant mortality are often addressed by separate organizations working toward similar goals.
“There’s a broader ecosystem that could exist if we were all communicating so that an investment in one of these would really be a push for everyone through this shared agenda,” said Banks.
Banks pointed to the Alliance’s role in helping create the Community Builders of Color Coalition in response to the federal Greenhouse Gas Reduction Fund as an example of how the organization can quickly coordinate national partners around a common objective.
“We created the Justice Climate Fund and members of the Coalition applied but, unfortunately, with the administration change, a lot of those funds still haven’t made it into the fund,” said Banks.
She said the funds remain tied up in legal challenges, but the effort demonstrated the Alliance’s ability to quickly organize partners and build the infrastructure needed to pursue large-scale funding opportunities.
Juneteenth Celebration
The conference also continued its emphasis on expanding access to capital. A “Money & Mimosas: Securing the Bag” panel brought together representatives from banking, philanthropy and community finance to discuss current funding trends and practical strategies for helping Black-led CDFIs diversify funding sources while remaining competitive for investment.
The session preceded the conference’s Juneteenth celebration, which honored the holiday while recognizing the work of Black-led CDFIs nationwide. Attendees gathered to commemorate Juneteenth and reflect on the role community finance plays in expanding economic opportunity in underserved communities.
Attendees also received Juneteenth T-shirts bearing the message, “Every stride moves us onward.”
“When members put this shirt on, we want them to think of themselves as part of those strides. Every loan closed, every small business served, every door opened by a Black-led CDFI is one more step onward,” said Banks.
“We have to celebrate,” she said. “For two long years there were enslaved people in this country who were free men and women and they didn’t know it. So, it is a moment that we have to commemorate and we cannot forget.”
