CDFI Fund Director Donna Gambrell Receives 2009 Community Reinvestment Award

Chicago, IL - U.S. Treasury?s Community Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell today was honored with the 2009 Community Reinvestment Award by the Chicago-based Woodstock Institute.

"I am honored to be named as one of the recipients of the Community Reinvestment Award,? said Director Gambrell. ?While this award is in my name, I accept it in recognition of the exceptional men and women with whom I have had the privilege of working with over my career in community development, especially those here in the great state of Illinois."

The Community Reinvestment Award honors policymakers, community organizations, and financial institutions that have made outstanding contributions to community reinvestment in Illinois.

Past recipients of the Community Reinvestment Award include Chairman Sheila Bair of the Federal Deposit Insurance Corporation, Citizen Action of Illinois, Neighborhood Housing Services, the Office of the Comptroller of the Currency, and Shorebank.

The Woodstock Institute has hosted the Community Reinvestment Reception, the largest gathering of community reinvestment professionals in the Midwest, since 1990. In previous years, the award reception has attracted over 200 representatives of Chicago community-based organizations, advocacy groups, financial institutions, and banking regulators.

About the Community Development Financial Institutions Fund

The CDFI Fund was created for the purpose of promoting economic and community development through investment in and assistance to community development financial institutions (CDFIs). The CDFI Fund?s role in promoting community and economic development was expanded in FY 2001 when the Secretary of the Treasury delegated to the CDFI Fund the responsibility of administering the NMTC Program.

Since its creation in 1994, the CDFI Fund has awarded $949.3 million to CDFIs, community development organizations and financial institutions through the Community Development Financial Institutions (CDFI) Program, the Bank Enterprise Award (BEA) Program, and the Native Initiatives. In addition, the CDFI Fund has allocated $19.5 billion in tax credit authority to CDEs through the NMTC Program. More information on the CDFI Fund and its programs can be found by visiting its website at www.cdfifund.gov.