What’s Next for CDFIs in Supporting DEI?

Originally published 1/31/2020

What’s Next for CDFIs in Supporting DEI?

FUND Community Institute’s recently released report, Advancing Equity: Diversity and Inclusion at CDFIs (available at www.fundci.org ) offers insights from industry stakeholders on where they see their organizations and the industry overall going next in terms of supporting and promoting DEI initiatives.

The findings indicate that the next steps fall into several categories: 

·        Metrics: Meeting established organizational metrics

o   DEI fully integrated into formal policies and procedures

o   Hiring of full-time DEI staff

o   Achieving DEI in staff, leadership, and board composition

·        Concepts:  Shaking the foundation of how community development is done and how community input and participation on projects is conceptualized. Respondents believe that they will see new decision makers at the table, from all levels of the organization and in varying roles in the community, identifying need and articulating how projects are implemented.

·        Behavior: DEI becomes inherent in all aspects of the organization

o   “I’m hoping is that our DEI policies become such an authentic and inherent part of how we operate. That we have formal metrics and processes that we are measuring but that people are just generally and authentically challenging and working with each other in this type of framework. That it just becomes part of who we are and how we operate. That our customers see it – stakeholders, investors, and partners. And it’s just another hallmark of who we are. I think people appreciate us now as an organization that will treat the disadvantaged with respect and dignity. I would love for folks to see this DEI way of being as a hallmark of the organization”. 

What are the next steps for your CDFI?