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Community Investing in the Gulf Region
Access Capital Strategies, LLC Access Capital became involved in the Katrina recovery process in the Gulf Coast region through its long association with Liberty Bank and Trust, the largest African-American bank in the region. Liberty was the dominant home mortgage and small business lender in the Ninth Ward and East New Orleans -- areas among the most devastated by Katrina. Access Capital helped to raise more than $150,000 in emergency assistance funds to enable Liberty employees to return to work so that they could help the tens of thousands of bank customers through their financial difficulties. Their Katrina Investment Deposits (KIDs) are CDs that will support Liberty Bank, with the goal of raising $40 million, which would help more than 50,000 New Orleans residents rebuild or repair their homes or businesses. The Calvert Foundation Calvert community investors can channel the investment capital of their Calvert Community Investment Notes to Katrina-affected communities by simply writing "Hurricane Recovery" on their Community Investment Note application or contribution form. The Notes are pooled funds, which lessen your investment risk by offering automatic diversification. Capital will be used to rebuild affordable homes, finance community facilities and initiatives to support critical recovery and redevelopment. In the past year, Calvert Foundation has deployed $1 million in investor capital on the ground in the Gulf Coast region, with partners who are helping to rebuild daycare centers, homes, businesses, and eldercare facilities in the region. Enterprise Corporation of the Delta/Hope Community Credit Union Hope Community Credit Union offers a Hurricane Relief Certificate of Deposit (CD) to holp provide low-interest loans, technical assistance, and flexible financing terms to help low-income Katrina-affected individuals and families rebuild their homes and businesses. Investors can purchase a Hurricane relief CD for 24-, 36-, or 60-month terms. Jewish Funds for Justice In September of 2005, Jewish Funds for Justice launched the Hurricane Katrina Fund to focus the resources and attention of the Jewish community on those with little income or influence who were disproportionately affected by the disaster. Jewish Funds for Justice’s Katrina Fund makes strategic loans and grants for both community development and community organizing. The fund is supported solely by tax-deductible donations from individuals and institutions, and anyone can donate. Local Initiatives Support Corporation (LISC) LISC is raising grant, loan and equity resources necessary to finance new and rehabilitated homes, stimulate economic development, and restore the community infrastructure so desperately needed in Louisiana, Mississippi, and Alabama. Individuals can make tax-deductible donations to LISC’s Gulf Coast Recovery Initiative, while their National Equity Fund has estabilished a special fund earmarked for Katrina redevelopment efforts. This fund is geared toward institutional investors, such as faith-based organizations or pension funds. The following organizations have also contributed to community development in the Gulf Coast Region during the last year. For more information please visit their Web sites, or view their profiles at Co-op America and the Social Investment Forum's Community Investment Resource Center. NCB Development Corporation (NCBDC)
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In commemoration of the one-year anniversary of the Hurricane Katrina, we are highlighting the following members of the