Community Development Finance (CDF) is a 501c3 nonprofit organization based in Oakland, California. Their mission is to provide low-income and underserved households, communities, and businesses with increased access to capital and financial literacy. CDF achieves this by offering below-market rate financial services and products, including check cashing, financial coaching, and small business services. They operate on a social enterprise model, where the check cashing services are financially sustainable through earned revenue, while donations and grants support coaching, social services, and administration. CDF has been involved in innovative programs and partnerships, with the potential for a larger impact.
CDF opened the first and only nonprofit, full-service, stand-alone check cashing store in the country in 2009 in Oakland's Fruitvale neighborhood. However, they recently announced the closing of the store after over 14 years of operation. Throughout their history, CDF has saved customers a significant amount of money, estimated to be at least $1.5 million in the neighborhood since their opening. They have also developed lending programs and are involved in policy development efforts. CDF continues to evolve and respond to community needs, offering a range of financial services at reduced prices or no cost. They have received grants and awards to expand their services and create new stores in different areas.
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