The Financial Innovations Roundtable is an action-driven, implementation focused policy-level initiative, comprised of highly respected financial leaders who work and collaborate on the defined tools and needed resources to implement a scale solution for the community development finance field. FIR participants, represent a powerful assemblage of finance professionals and non-profit leaders from a diverse range of institutions—including banks, credit unions, insurance companies, investment firms, public agencies, ratings agencies, community development financial institutions (CDFIs), foundations, pension funds, religious institutions, and universities.
The full FIR group convenes annually to participate in work sessions to address financial needs in low-income communities and vet potential financial tools for the CDC / CDFI community as well as define specific policy issues that open up sources of financing and improve financial performance in the community development field. Each year 1-2 projects are advanced by the FIR.
The FIR process:
- Identifies the immediate financial challenges, redundant costs and scale shortfalls inherent in a network of community development organizations and creates cross-sector partnerships to develop practical solutions.
- Drills down to one or two identifiable initiatives and research activities, working to remove the barriers between conventional and non-traditional lenders, investors, and markets, and
- Within a 12-18 month framework, begins to create products and services that provide low-income communities with a scalable, transparent and replicable process for increased access to capital and financial services.