LISC is working with Citi Foundation to make community development more diverse by tapping into the expertise of people who live in and look like the communities our industry serves. We're nurturing a diverse talent pipeline through initiatives that place HBCU students and AmeriCorps Economic Mobility Corps members in yearlong paid employment experiences with LISC and other community development financial institutions. Learn about the people and organizations we’ve impacted through this work.
In under-resourced communities that have been edged out of mainstream banking, community development financial institutions (CDFIs) are a critical lifeline to capital and services. But in too many cases, the people who staff and lead CDFIs do not look like or live in the communities they serve, which are largely comprised of people of color.
Recognizing the value that varied backgrounds and experiences can bring to our work, the Citi Foundation supported LISC in working to build a diverse talent pipeline for the CDFI industry. We have since seeded a new generation of diverse community development professionals by offering yearlong paid employment experiences through two avenues:
- An internship program that has placed 51 students from 27 Historically Black Colleges and Universities (HBCUs) with 13 CDFI partners and 15 LISC offices, and
- An Economic Mobility Corps program that has placed 29 AmeriCorps members with 27 CDFI partners directly supported by Citi Foundation. Overall, EMC has supported 62 members with 53 partners.
HBCU interns and Economic Mobility Corps members get a taste of the wide-ranging work of CDFIs, from marketing to finance to community engagement, while also participating in networking events. Interns and members offer new ideas and help CDFIs increase their capacity. They are well positioned to build trust with communities whose members look like them and share common experiences. Plus, they gain the skills and connections to help launch careers both within and beyond the CDFI industry.
Check out some of our favorite stories about the people and organizations impacted by our collaboration with Citi Foundation.
Meet James Hunter, CDFI Executive in New Orleans
As chief DEI officer for the New Orleans Firemen's Federal Credit Union, James Hunter is on a mission to nurture new and diverse leadership for his organization. The credit union originally opened its doors to first responders, but now it’s offering financial products and services to more people across Louisiana. Expanding its service area demands more staff committed to financial equity and that’s where LISC comes in: connecting the credit union with young employees through our HBCU internship and Economic Mobility Corps programs, which are supported by Citi Foundation.
Hear Hunter talk about the impact these young people are having on his CDFI during their yearlong work experiences and how he hopes they’ll bring greater diversity to the community financial services field.
Meet Alana Matthews, HBCU Intern in Chicago
Chicago native Alana Matthews is a senior at Dillard University, an HBCU in New Orleans, majoring in international business. With support from LISC and the Citi Foundation, this year she is applying her passion for entrepreneurship to an internship with C3 Impact Fund, a Chicago-based CDFI that lends to BIPOC and women entrepreneurs who help revitalize disinvested communities through affordable housing development. After graduation, Matthews plans to attend law school where she’ll study real estate law—a practice, she says, that may well bring her back to community development.
Hear Matthews describe her experience with C3 Impact Fund and how community development provides endless pathways for young people looking for mission-driven careers.
