The White House recently announced new appointments to the Community Development Advisory Board, the 15-person federal advisory committee to the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). The Board advises the CDFI Fund’s Director on the policies regarding the activities and programs of the CDFI Fund.
“I am pleased to congratulate and welcome this esteemed group of professionals who share the CDFI Fund’s vision of an America in which all people and communities have access to the investment capital and financial services they need to prosper,” said CDFI Fund Director Pravina Raghavan.
Southern Bancorp, Inc., CEO Darrin Williams, who was first appointed to the board in 2021 was reappointed for a new term.
“I am honored and grateful to both the White House and the Department of Treasury for this opportunity to continue serving the mission of the CDFI Fund,” said Williams. “As one of America’s oldest and largest CDFIs, Southern Bancorp has a deep understanding and respect for the impactful work being performed by the CDFI Fund, and I look forward to supporting their efforts to increase economic opportunity across the country in this continued capacity.”
The full list of Advisory Board Members can be found here: https://www.cdfifund.gov/cdfi-staff-and-board/cdab.
About the CDFI Fund
Since its creation in 1994, the CDFI Fund has awarded more than $7.4 billion to Certified Community Development Financial Institutions (CDFIs), community development organizations, and financial institutions through the CDFI Program, the Bank Enterprise Awards Program, the Capital Magnet Fund, the Financial Education and Counseling Pilot Program, and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated more than $76 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program and guaranteed nearly $2.5 billion in bonds through the CDFI Bond Guarantee Program. To learn more about the CDFI Fund and its programs, please visit the CDFI Fund’s website at www.cdfifund.gov.
About Southern Bancorp
Founded in 1986 by some of the nation’s leading political, business, and philanthropic leaders with an initial investment of $10 million, Southern Bancorp, Inc., along with its development partners – Southern Bancorp Bank and Southern Bancorp Community Partners – has grown into a $2.6 billion asset organization with 56 locations serving 65,000 customers across two states. Southern Bancorp has a unique array of financial products and services designed to help individuals at all stages of life’s financial journey – from teaching kids how to save to helping entrepreneurs and families realize the American Dream. Southern Bancorp is a certified Community Development Financial Institution, certified B-Corp, and proud member of the Global Alliance for Banking on Values. Learn more at www.BankSouthern.com and www.SouthernPartners.org.