Inclusiv launches Racial Equity and Resilience Investment Fund

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$20 Million in secondary capital to expand economic relief and financial inclusion

NEW YORK, NY (January 14, 2021)Inclusiv is pleased to announce the launch of a $20 million Racial Equity and Resilience Investment Fund deploying secondary capital to expand economic relief and financial inclusion for credit unions that serve communities of color. Secondary capital builds institutional net worth enabling credit unions to leverage deposits and vastly expand impact. This pool will leverage more than $200 million in lending to minority-owned businesses, homeowners and consumers to withstand the current economic crisis and build wealth and assets. The Inclusiv Racial Equity and Resilience Fund is made possible through support from Robert Wood Johnson Foundation.

The Racial Equity and Resilience Investment Fund will build upon the highly successful Inclusiv Resilience Grant Fund launched in June 2020 that has raised more than $1 million in grant funds to 59 minority designated credit unions around the country. These funds are supporting credit unions to provide emergency relief loans, expand their outreach to minority businesses, get connected with capital, and to reach unbanked and underbanked consumers with access to responsible financial services.

“Community development credit unions have been on the front lines working to secure financial security for their members and communities. Minority credit unions are frequently the sole source of responsible capital in communities of color,” said Cathie Mahon, Inclusiv CEO. “Investments in this network of institutions has immediate and real impact. This capital will increase access for low-income households, ensure that stimulus relief is distributed equitably, and respond to the unprecedented level of economic shock caused by COVID-related shutdowns.”

River City Federal Credit Union in San Antonio, TX has received the first Resilience Investment Fund secondary capital loan. Inclusiv’s investment is supporting River City FCU to expand their banking and lending to Latinx and immigrant communities in San Antonio. The $116.6 million credit union has 11,873 members and $101.4 million in total loans.

San Antonio, one of the fastest growing cities in Texas, is also home to high concentrations of predatory financial firms that target financially vulnerable consumers, especially newly arrived immigrants. As a CDFI, MDI, and Juntos Avanzamos designated credit union, River City has worked with community partners in designing a suite of products for the unbanked and credit invisible.

“Working with community partners including the Mexican Consulate and the YWCA, we designed a suite of products designed for those who haven’t had accounts in the past and have yet to build credit. These deposit and loan products are designed to bring people into the credit union, save them money by not paying excessive fees or interest, and begin to establish financial stability. Breaking generational poverty can start with finding a financial institution willing to take the time and effort to help you understand how things work. We see that as a major responsibility,” says Jeff Ivey, CEO of River City FCU.

An analysis by Inclusiv on the impact of Secondary Capital investments found credit unions receiving these investments leveraged this capital 60 times over in a period of 5 years. The growth of CDCU, CDFI and minority credit unions multiplies impact as each step up in scale is accompanied by dramatic increases in loan deployment, number of product lines and volume of specialized lending. This vast potential has massive implications for changing the financial landscape for survival through the pandemic and growth for generations to come.

Interested supporters and applicants with questions about the Inclusiv Resilience Investment Fund can contact Cathi Kim, Director, Inclusiv/Capital at For questions related to the Resilience Growth Fund please contact Monica Copeland, Inclusiv Senior Program Officer, at

About Inclusiv

At Inclusiv, we believe that financial inclusion is a fundamental right. We dedicate ourselves to closing the gaps and removing barriers to financial opportunities for people living in distressed and underserved communities. Inclusiv is a certified CDFI intermediary that transforms local progress into lasting national change. We provide capital, make connections, build capacity, develop innovative products and services and advocate for our member community development credit unions (CDCUs). Inclusiv members serve nearly ten million residents of low-income urban, rural and reservation-based communities across the US and hold over $100 billion in community-controlled assets. Founded in 1974, Inclusiv is headquartered in New York, NY, with offices in Madison, WI and Atlanta, GA. For more information about Inclusiv visit us at and connect with us on FacebookLinkedIn and Twitter. The Inclusiv Center for Resiliency and Clean Energy was created in 2019 in partnership with the Center for Impact Finance at the University of New Hampshire’s Carsey School of Public Policy to build a network of community-based financial institutions that commit to designing and scaling green lending solutions and promoting the adoption of affordable and sustainable energy for all people, particularly low-income communities and communities of color.


Clarissa Ritter