Brian Cobb

We are pleased to announce that PATF’s subsidiary, Appalachian Assistive Technology Loan Fund (AATLF), has received a Community Development Financial Institutions (CDFI) Fund award totaling $800,000. AATLF will use these funds to provide assistive technology (AT) financing to people with disabilities in Pennsylvania and Kentucky, as well as development services to its clients. Our organization is part of a community of CDFIs that serves low-income people and people with disabilities across America. The CDFI Fund has awarded a total of $408.2 million in Financial Assistance (FA) to 357 CDFIs. The awards, provided by the U.S. Department of the Treasury, were made through a combined fiscal year (FY) 2023-2024 funding round of the CDFI Program and the Native American CDFI Assistance Program (NACA Program). These two programs present monetary awards to invest in and build the capacity of CDFIs, empowering them to grow, achieve organizational sustainability, and improve the quality of life for low-income people and people with disabilities across America. CDFIs use FA awards to meet goals such as: expanding operations into a new investment area or areas; serving a new targeted population or populations; providing new products or services; or increasing the volume of products or services. Here is the official CDFI Fund award announcement: https://lnkd.in/gbCmXwta #CDFIs #Fund #Loan #Award

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Explore the latest updates to OMB guidance for grants and agreements and their impact on state, local governments, and non-profit organizations. https://okt.to/Ql9npR #Grants #OMBGuidance #NotForProfits

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The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded $408.2 million in Financial Assistance (FA) awards to 357 CDFIs across the country as part of the FY 2024 CDFI and NACA Programs! 🎉 With an unprecedented surge in applications (40% increase in CDFI Program and 30% in NACA Program), these funds will empower CDFIs to expand operations, introduce new services, and drive economic revitalization in underserved communities. 🟢 Highlights: $257.1 million in Base-FA awards to 332 CDFIs in 43 states, DC, and Puerto Rico. $43 million to serve Persistent Poverty Counties (PPC-FA). $48 million for healthy food access (HFFI-FA). $12.95 million for projects assisting individuals with disabilities (DF-FA). Special support for Native American communities through $43.2 million in NACA Program awards. Kudos to the 91 CDFIs receiving their first-ever FA award, making a significant impact on their communities! 🙌 Let’s keep pushing for greater financial inclusion, sustainable growth, and community development. #CommunityFinance #CDFI #EconomicGrowth #FinancialInclusion #NACA #PersistentPovertyCounties #HealthyFoodAccess #ImpactInvesting #CDFIFund #Treasury

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The distinction between "digitizing" and "transforming" can make or break your institution's competitive edge. While digitizing processes boosts efficiency, true digital transformation reimagines operations, decision-making, and customer service by leveraging data as a strategic asset.   In this brand new article by Chris Muracco, MBA, you'll learn about: ✔ The crucial difference between digitizing and transforming. ✔ The shift from viewing data as a byproduct to treating it as a core asset. ✔ Using data to personalize experiences and proactively meet customer needs. ✔ Exploring effective fintech partnerships, digital-only branches, and more.   Learn why institutions that harness the power of data to transform their bank not only improve efficiency, but also drive innovation, boost customer satisfaction, and uncover new revenue streams.   Read the full article here!  https://lnkd.in/eY3rwhPS #communitybanking #dataanalytics #digitaltransformation

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Digital banking does not reign supreme for all services.

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For any business, it’s important to truely understand what your clients and prospects want. But when you are fluent in what they NEED that can take your business to a whole new level. If you can figure out a way to deliver what your clients need, even if they dont know what that is yet, then you are differentiating your business at the highest level. #KeyDifferentiatingValueProposition (Or “KDVP’s” as we call them in our training classes) If you can figure this out for your business, you will have NO competition because customers and prospects will look at your business as an entity that is delivering something that no one else can. In the world of banking, this is happening right now with Endeavor Bank in San Diego. Banking+ interviewed CEO Dan Yates in a two part story. This part two dives into the meat and potatoes of their KDVP concept. A few months ago Banking+ interviewed one of our local Philly banking leaders Miguel Alban for their #professionalprofiles series. These stories are very entertaining and educational. Even if you are not in banking, the advice from the senior people in banking industry is as valuable to #bankers and #creditunionemployees as it is to business people of any industry. If you are in banking or credit unions we highly reccomend you follow them or check out their website. #businessconsulting #banking #smallbusiness #bankingplus #brilliantidea

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The Consumer Financial Protection Bureau has announced its much-anticipated plans to shepherd the adoption of open banking in the United States. Third-party financial companies are the driving force behind the open-banking model. However, regulators, including the CFPB, have expressed ongoing concerns about the growing dependence on fintech companies that aren’t required to comply with conventional banking regulations. Read more: https://ow.ly/ug5q50TSQ41 #CFPB #payments #openbanking #regulations #instantpayments

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Thank you for the honorable mention Mark Treichel. This episode is a great discussion of some of the risks we see every day in credit union governance. Quantum Governance, L3C has a library of policies and other resources to help directors and CEOs address all of these risks. #diversity #ethics #riskmanagement #successionplanning 

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As a prominent Community Development Financial Institution certified by the U.S. Treasury's CDFI Fund, we recognize our responsibility to strengthen our longstanding banking relationships and collaborate effectively on initiatives that address critical community needs. This certification aligns with our mission-driven approach to community development and underscores our commitment to supporting underserved populations and uplifting communities. By providing financing to those who may not have access to traditional banking services, we aim to foster economic growth and empowerment. We aspire to lead the industry toward a broader landscape of impact investing, where capital market solutions and public funding converge to amplify the transformative work of CDFIs nationwide. #FinancialInclusion #ImpactInvesting #CommunityDevelopment

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BNY's recently published, "2024 Voice of Community Banks Survey" looks at some of the challenges and opportunities facing community banks and provides some insights into where these critical financial institutions are focusing their strategies and resourcing. The accompanying report, authored by Shofiur Razzaque, Head of Community Banking & Solutions at BNY, discusses the results and focuses on digital transformation, cybersecurity, regulatory compliance, and customer engagement, emphasizing the critical importance of adopting modern technology while balancing the demands of regulatory requirements and the evolving needs of customers. The survey of more than 100 community banks nationwide, indicates that these institutions are increasingly prioritizing digital transformation by investing in AI, machine learning and data analytics to modernize operations and personalize services in order to stay competitive with larger institutions. With an emphasis on accelerated technical innovation in these areas also comes a heightened focus driving innovation and governance strategies around information security and data management to mitigate the expanding risks associated with these emerging technologies. When asked to identify the top challenges their institutions face in the next five years, “cybersecurity emerged as the leading long-term concern [27%], followed by customer acquisition and retention, and data management and analytics [24%].” Explore more insights from the full report: https://lnkd.in/d3VrHJTZ #CommunityBanking #DigitalTransformation #Cybersecurity #AI #DataManagement #BankingInnovation #CustomerEngagement #BNYMellon #cybersecuritymonth

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Is your credit union looking to expand its community impact and access critical funding? Our latest blog post breaks down the key takeaways from last week's webinar, "Understanding the CDFI Opportunity." Learn from CUCollaborate's CDFI expert Jeff Bailey, CUDE as he covers: ✅ The benefits of CDFI certification for growth and community impact ✅ Key requirements and strategies for certification success ✅ How CDFI funding can support underserved communities 📌 Read the full post here: https://lnkd.in/g6UVTBw3 #CreditUnions #CDFICertification #CreditUnionGrowth #CDFI

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The OCC supports National Financial Capability Month and its focus on financial literacy. View the OCC’s Financial Literacy Resource Directory for trusted information consumers and communities can use to make important financial decisions. https://lnkd.in/enT8Kcbd

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The CSBS Annual Community Bank Survey provides insights from community bankers with assets under $10 billion on critical topics such as key risks, compliance costs, and technology. This year, 370 community bankers from 38 states shared their perspectives, highlighting that regulatory burden has become their top concern. Read more about the 2024 survey results: https://lnkd.in/edbbff_g

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We're proud to be a #CDFI, and join the other CDFI's and Responsible Lenders across the country in making real change! Community Development Finance Institutions (CDFIs) have turned ripples of finance into waves of change for individuals, businesses and social enterprises across the UK.  They provided opportunity and built resilience for disadvantaged communities and those excluded from mainstream finance. In 2023, lending from CDFI's hit a record high of £287 million - and CDFIs now operate at 31 times the scale they did in 2003, when the sector lent £9.2 million. This growth reflects how CDFI's fill widening needs seen for the right finance at the right time.  Here’s what CDFIs achieved in 2023: - Supported 4,546 start-ups and SMEs with £102m of loans.  - 12,135 jobs were created or safeguarded.  - 99% of businesses had been declined by another lender.  - 371 social enterprises were supported with £119m of loans.   - Households saved £29m in interest repayments compared to high-cost lenders.   - CDFIs lent £66m to 85,208 individuals.  - CDFIs identified a total of £601m of unclaimed benefits for 143,050 customers. Read more about the impact of CDFIs’, plus lots of customer stories in: https://lnkd.in/eWSFydQ2 #RipplesToWaves #ResponsibleFinance #CDFIs Responsible Finance 👏

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It’s been several years since my friend and business partner, Wendell E. Mackey, CFA, turned his tassel at Howard University. 🎓 Yet, as he frequently recalls what it was like to first enter the workforce, he feels compelled to #payitforward As a #mentor, boss, and, most recently, a speaker at Howard University's School of Business 2024 commencement ceremony ... ... Wendell is a spark lighting the path for others. 💥 Success isn't just about reaching the top—it's about sending the elevator back down.  #stockmarket #valueinvesting #assetmanagement

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#Communityfinancialinstitutions looking to grow their business may want to focus on the growing needs of small- and medium-sized businesses that are also looking to scale. In today’s #PCBBBID we look at 3 community financial institutions that are doing just that by offering an expanded digital and geographical reach, robust cash management services, and personalized support. https://lnkd.in/e8Wx48cj

TEG Federal Credit Union understood that to continue being successful as they grew, and deliver quality service to members, they needed data in the hands of their internal decision-makers. They started this journey with Arkatechture's Data Strategy Assessment. #creditunions #data #datastrategy #datadriven https://hubs.li/Q02t0hw-0

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