Last week, we launched Inside Out, our annual publication on the community development finance sector. The document shows that CDFIs now have loaned and levered nearly a billion pounds into deprived communities and underserved markets in the UK. The launch was held at Barclays in Canary Wharf and was attended by practitioners, banks, government departments, regional development agencies, the media and other key stakeholders, all of whom wanted to find out the latest news about our sector. Inside Out captures a whole host of data about the sector, how it operates, its performance and who provides funding and other support. You can find out more about Inside Out on the cdfa website.
We also held a seminar on our performance framework, Change Matters. The event gave members the opportunity to find out more about the assessment process and how it will work for their CDFI, as well as discuss issues arising with stakeholders who were present. In good numbers, I might add.
Last month I spoke at the London Citizens Assembly held in the Barbican. The subject was about levering citizen action in the new financial climate. There were 2,000 people present including Boris Johnson , Stephen Timms, Greg Hands, and Vince Cable. The assembly had five key ‘asks’ of politicians and you can find out more about it here. These ‘asks’ complement the sterling work being carried out by the Better Banking coalition, of which the cdfa is a key member. The coalition is gaining ground in the run-up to the general election.
In October I went to the Opportunity Finance Network conference in the US. There, the Obama administration’s support for CDFIs was obvious. Not only was a $100m fund made available for emergency credit to businesses earlier this year, but more recently a 127% rise in the central government CDFI fund was announced for next year. How wonderful it would be to have an equivalent level of support in the UK. It would make a real difference to the communities we serve and help drive us out of the recession.
I have also had a number of meetings with members or attended their events. These included the Fredericks Foundation, East Lancs Moneyline, Business Enterprise Fund, Business Finance Solutions, Social Investment Business and Bridges Ventures. Our Chair, David Herd, and I have also had meetings with Treasury Minister Sarah McCarthy Fry and DWP Minister Helen Goodman.
Lest you think I am slacking, I have also been meeting stakeholders such as Transact, the National Housing Federation and Yorkshire Forward to update them on our work and find out what is happening for them. Recent meetings with Barclays and RBS/NatWest have been about future support for the sector. I also attended the Social Enterprise Awards last week, which is a great way of acknowledging the work and viability of social enterprises throughout the UK. Of course, CDFIs are social enterprises themselves, so this event has a particular resonance for us.
On the home front:
Rather brilliantly, I have already written and sent all my Christmas cards. This has never been known to happen before about December 18th in the past, so I am feeling rather pleased with myself. Just the Christmas shopping to go……
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