The Kansas City Fed now provides funders a free online tool to access community and economic development opportunities.
This month, the Kansas City Fed launched Investment Connection Online for External LinkFunders. The online tool adds efficiency and convenience for funders seeking to connect with and assist community and economic development organizations for Community Reinvestment Act (CRA) consideration, as well as to enhance their communities.
Funders can go to the Investment Connection online address and fill out a form with information that can help connect them with an organization that provides services within their geographic and interest areas.
The new tool complements Investment Connection events the Kansas City Fed already presents throughout the Tenth District.
Collaborative opportunities
Investment Connection gives community and economic development organizations an opportunity to reach mulitple funders with proposals that address: asset building and financial education; community facilities; small business development and microlending; neighborhood stabilization and affordable housing; and workforce development.
Started in 2011, Investment Connection has connected community organizations with more than $24 million in funding within the Tenth District.
Funders say they also like the opportunity to learn about the initiatives of organizations that fit within their community outreach efforts.
“The Federal Reserve Bank of Kansas City provides a powerful resource through Investment Connection in which organizations can present their programs and then give bankers an opportunity to reach out with collaborative opportunities,” said Paul Costello, vice president, CRA and fair lending officer with NBH Bank, NA.
Costello said his bank recently developed eight relationships through presentations at just one Investment Connection event in Denver.
The free online version of Investment Connection offers the same opportunities as the events, but with the convenience of allowing funders to access the site whenever and as often they want – 24 hours a day.
Community and economic development organizations also can submit proposals through Investment Connection Online at Request for Proposals.
For more information about Investment Connection and Investment Connection Online, go to the Kansas City Fed’s Community Development Investments website.