Patricia Connolly, PhD

Transparency in banking is essential! Under the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), banks must make their CRA ratings and performance publicly available. This means communities get a clear view of how banks are supporting local credit needs, encouraging fair practices and development. Let's push for accountability and transparency in the financial system to build stronger, fairer communities! 💪 #BankTransparency #CommunityReinvestment #FIRREA #FairBanking #EmpoweredCommunities

4

This evaluation requires collaboration between team members and stakeholders to gauge the financial and strategic implications of delays accurately. Read more 👉 https://lttr.ai/AVAZv #CostOfDelay #Kanban #EvaluationRequiresCollaboration #ClearFinancialPerspective #GuidingPrinciple #TeamDelivers #MakeInformedDecisions #PivotalRole #MarketOpportunity #CustomerSatisfaction #ConceptPlays #AdjustingPrioritiesBased

ICYMI: PSCU/Co-op Solutions is now Velera — velocity for a new era! 🎉 In this Finopotamus interview at #THINK24, Velera President and CEO Chuck Fagan discusses our organization's commitment to the credit union movement and shares insights into the intersection of technology and advocacy in our industry. ➡️ Read the article: https://bit.ly/3QZPmJM #WeAreVelera #CEOInsights

87

Four major gaps divide global credit unions and their members from prosperity and growth: 🌐 Digitalization 🌐 Safety 🌐 Gender Equity 🌐 Leadership Our mission is to bridge these gaps, connecting millions of underserved people and communities to the financial services, resources, and careers they deserve. Learn about how you can support our work: https://doglobalgood.org/

3

🚀 Curious about the latest economic landscape? We've had the pleasure of speaking with business strategy advisor Alex Chausovsky from Bundy Group about the trends that business leaders should watch. Read the article here to learn about the resilience of the U.S. economy, navigating supply chain disruptions and more. https://lnkd.in/gnezSGy2 What trends are you watching in 2024? Let us know in the comments! 👇

27

Bridge the gap between mission and impact with the #TraxSolutions software suite trusted by #nonprofits to streamline their operations and track outcomes. Jumpstart your organization's data-driven journey by speaking with one of our consultants today! #ParticipantManagement #ProgramManagement #DataManagement #OutcomeTracking #ImpactMeasurement #BetterDataBetterOutcomes #NonprofitTech

2

Everyone deserves access to basic material necessities- by understanding and addressing the needs and intersectionality of all communities, basic needs banks can ensure every community is served equitably. Read our latest blog post here: https://lnkd.in/gxEwzi3v

5

🌟 Conference season means new insights, connections, and big ideas! Whether it’s at CU World Conference, CU Leadership Convention, or APEX (just to name a few recent ones), we’re seeing so much excitement to drive change. But what happens when it’s time to implement? How do you prioritize, gain support, and follow through to make those ideas stick? 🔹 That’s where MWA can step in. We know that translating ideas into impactful results takes more than inspiration—it requires #strategy, resources, and a dedicated team. Our expertise in crafting case studies and implementation plans helps you gain buy-in and monitor progress every step of the way. Let's talk! #creditunions #getyourmoneysworth

3

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 👏

4

The decline of bank branches has created "banking deserts"—areas with limited access to financial services, leaving millions without a reliable way to withdraw or deposit cash, open new bank accounts, and other important banking services. This impacts rural, lower-income, and urban communities the most, but it also presents an opportunity for local businesses to step in and serve their communities. SPARE is leading the charge by transforming local businesses into hubs for virtual, full banking teller services. Using existing Point of Sale Devices, SPARE allows merchants to offer essential financial services without the need for costly ATM hardware. Businesses can provide extended banking services, integrate with digital wallets, and securely manage cash flow, all while generating revenue with each transaction. SPARE empowers stores to become key financial touchpoints, solving the critical issue of banking deserts and supporting underserved populations. Together, we’re building a future where full banking services are accessible, convenient, and right in your neighborhood. #BankingDeserts #FinancialInclusion #FullBankingServices #vATM #SPARE #CommunityBanking #FutureOfFinance #AccessibleBanking #Fintech

7

CDFI Fund Update: FY 2024 BEA Program Application Demand The Community Development Financial Institutions Fund (CDFI Fund) released application data for the FY 2024 round of its Bank Enterprise Award Program (BEA Program). Key Highlights: ➡️Over $101 Million Requested The BEA Program saw 176 applications requesting over $101 million, more than 2.5 times the available $40 million. These applicants are from 24 states and the District of Columbia. ➡️Significant Increases in Qualified Activities From January 1 to December 31, 2023, applicants reported nearly $1.1 billion in qualified activities, marking a $390 million increase from the baseline period: - $257 million in loans and investments - $78 million in equity investments and support to CDFIs - $56 million in financial services ➡️Commitments to Persistent Poverty Counties (PPCs) Out of the 176 applicants, 98 committed to deploying a portion of their award in Persistent Poverty Counties, including areas in Puerto Rico and other U.S. territories. Applications are under review, and the CDFI Fund expects to announce awards in fall 2024. #CDFIFund #BEAProgram #EconomicDevelopment #CommunityFinance #CDBA #InvestInCommunities #PersistentPovertyCounties #FinancialInclusion

10

1 Comment

Traditional evaluation looks backward; innovation looks forward. How do we evaluate innovation in real time? In Caribou Digital’s work with Mastercard Strive, we sought opportunities to break away from traditional evaluation models to try a new approach that retained values of timeliness, flexibility, agility, and rigor, with a clear understanding of real-world constraints. From this experience, we devised an evaluative approach to support programs working in dynamic systems to generate impactful and incisive insights that enhance performance and impact. Find out how from Elise M. and Niamh Barry: https://lnkd.in/e9K6VxBm

22

Microfinance and Financial Capability Month may be coming to a close, but our work to increase financial growth and independence for small business owners continues! Throughout this month, we've debunked myths, shared insights, and celebrated the transformative power of microfinance, financial capability, and small business ownership. Now, we want to hear from YOU! 📣 Whether you've been impacted by microfinance, gained financial capability skills, or started your own small business, your story matters. Share your experiences in the comments below or tag us in your posts using #ShareYourStory and let's continue the conversation! #ShareYourStory #MicrofinanceMonth #FinanceCapabilityMonth #SmallBusinessOwner

8

📊 In the latest National Minority Supplier Development Council (NMSDC) Equity in Business Podcast, CEO Ying McGuire and Supplier.io CEO Aylin Basom discuss the 2023 Minority Businesses Economic Impact Report. Gain valuable insights into the report's findings, understand the critical metrics NMSDC tracks, and explore ways to contribute to the ambitious goal of reaching $1 trillion in MBE revenue by 2030. Tune in for practical applications and opportunities to make a difference. Listen to the episode now! https://lnkd.in/gnZHCpHn #NMSDC #EconomicImpact #DiversityAndInclusion #Podcast #MBE #BusinessLeadership

1

The 2023 CDFI Survey offers insights on impact measurement and management (IMM) for community development financial institutions (CDFIs). The survey asked CDFIs’ perspectives on tracking output and outcome metrics. Importantly, these questions help demonstrate where CDFIs are and where they want to go with IMM and program evaluation. Check out this data summary that highlights what output and outcome metrics CDFIs measure and want to measure, why CDFIs track metrics and challenges that CDFIs face in tracking metrics. This data summary was written by Surekha Carpenter, research analyst with the Community and Regional Team at the Federal Reserve Bank of Richmond, and Adrienne Smith, senior vice president of research at Opportunity Finance Network. https://lnkd.in/eZw2QCP4 #CDFIs #Funding #CommunityDevelopment

14

Recommended Reading: Check out this dive into the state of impact measurement and management for CDFIs.

2

1 Comment

A new report from The Conference Board says that consumers “overwhelmingly selected higher prices” as their top concern for the new year. Smart businesses will find ways to focus their innovation efforts on maximizing affordability in 2025, especially as threats of increased tariffs from the incoming Administration stoke new inflation fears. A few weeks ago, for example, H&M unveiled a “pre-loved collection” program that capitalizes on this increased consumer focus on cost-consciousness. Innovation teams should be tracking macro economic trends and consumer confidence indexes as they consider priorities for 2025. Link in first comment.