Clearinghouse CDFI Helps Fund Native COVID Resilience and Recovery Program via AHEAD Grant

FLAGSTAFF, Ariz., Oct. 21, 2021 /PRNewswire-PRWeb/ -- Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today it will help fund Red Feather Development Group's Native Home Resource Network through use of the AHEAD Economic Development Grant Program. The goal of the Native Home Resource Network program is to resolve the housing issues of limited income families living on the Hopi and Navajo Nations by connecting them to healthy housing resources. The objective during the grant term is to provide case management services to a minimum of 600 homes, or approximately 2,400 individuals.

"Red Feather believes that developing sustainable solutions to address tribal housing needs requires creativity and innovative partnerships. We are pleased to have the support of Clearinghouse CDFI and the Federal Home Loan Bank of San Francisco (FHLBSF) to expand our Native Home Resource Network program," said Joe Seidenberg, Executive Director of Red Feather Development Group. "Specifically, we hire two community-based case managers who will help connect health home resources to families in need. We believe having a healthy home is a key determinant of individual health and wellness, which has a direct influence on one's ability to succeed at work, school, and other life pursuits."

According to the most recent data available from the U. S. Census Bureau, over 1 million tribal members reside on American Indian reservations. 40% live in homes that do not meet the Federal standard for "adequate housing." This compares to just 6% of the rest of the US population living in substandard housing. These conditions can exacerbate and cause chronic health conditions, making it difficult to perform the tasks of daily living or be productive at work or school. Establishing a healthy home is critical to living a healthy life, as well as building resilience to pandemics such as COVID-19.

The AHEAD Program is provided through The Federal Home Loan Bank of San Francisco and fosters early-stage funding of targeted economic development and housing projects. By way of membership with the FHLBSF, Clearinghouse CDFI sponsors projects through the AHEAD Program. These projects coincide with Clearinghouse CDFI's mission to create or retain jobs, improve community infrastructure, produce more affordable housing, and serve distressed low- and moderate-income areas nationwide.

"Red Feather Development's focus on healthy solutions to sub-standard housing for the Navajo Nation and Hopi Tribe makes a significant difference in the lives of the people served, and for communities hit hard by the pandemic, these services are essential," said Marietta Núñez, Senior Vice President and Community Investment Officer at FHLBSF. "We are pleased to partner with our member Clearinghouse CDFI to support this important work with AHEAD funds."

"Housing security can contribute to healthier homes, healthier lifestyles, and better outcomes overall," said Douglas J. Bystry, President and CEO of Clearinghouse CDFI. "It's an honor to partner with our friends at Red Feather and Federal Home Loan Bank of San Francisco to help thousands of people of the Hopi and Navajo Nations."

About Clearinghouse Community Development Financial Institution (Clearinghouse CDFI):

Clearinghouse CDFI addresses unmet credit needs throughout the U.S. and in Indian Country through direct lending, equity investments, and financial assistance. For 24 years, Clearinghouse CDFI has helped bridge the gap between conventional lending standards and the needs of low-income, distressed, and communities of color. Clearinghouse CDFI is also a B Corp—a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More information is available at: http://www.ccdfi.com.

About the Federal Home Loan Bank of San Francisco (FHLBSF):

The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions-commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions-foster homeownership, expand access to quality housing, seed or sustain small businesses, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient. More: http://www.fhlbsf.com.

About the AHEAD Economic Development Grant Program:

AHEAD grants support innovative, targeted initiatives that will create new economic opportunity or fill critical social service gaps by expanding proven development models or piloting new interventions. More information is available at: https://www.fhlbsf.com/community-programs/grant-programs/ahead.

Media Contact

Ron Demeter, Vectis Strategies on behalf of Clearinghouse CDFI, 310-614-1059, rdemeter@vectisstrategies.com

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SOURCE Clearinghouse CDFI