The Federal Reserve Bank of Boston has announced the appointment of Vermont Community Loan Fund Executive Director Will Belongia to the Bank’s New England Community Development Advisory Council (CDAC).
The New England CDAC is comprised of fourteen representatives from community development organizations from the private, public, and non-profit sectors. The council informs the Boston Fed president and its board of directors on activities, issues, and barriers to community development, as well as effective use of community development resources, throughout the region.
As part of the United States’ central bank, the Boston Fed works to promote sound growth and financial stability in New England and nationally, by contributing to communities, the region, and the nation by conducting economic research, participating in monetary policymaking,supervising certain financial institutions, providing financial services and payments, playing a leadership role in the payments industry, and supporting economic wellbeing in communities.
The Vermont Community Loan Fund is a Community Development Financial Institution (CDFI), with a mission to create opportunities that lead to healthy communities and financial stability for all Vermonters. Since 1987, the Loan Fund has loaned over $102 million to local businesses, affordable housing developers and community-based organizations that has created or preserved 6,100 jobs; built or rehabilitated 4,000 affordable homes; created or preserved quality care for over 4,000 children and their families; and supported community organizations providing vital services to hundreds of thousands of Vermonters.
“The Community Development Advisory Council provides unique perspectives into the hard work happening across community development organizations in the First District,” said Eric S. Rosengren, President and Chief Executive Officer of the Boston Fed. “I’m looking forward to welcoming the new members and hearing perspectives that will help advance our mission of public service that makes a difference.”
“It’s an honor and a privilege to be invited to serve on the CDAC. I look forward to working alongside the other members to help advance the community-building and economic goals of our organizations in New England,” said the Loan Fund’s Belongia.
For more information, visit the Vermont Community Loan Fund’s website at www.investinvermont.org and Federal Reserve Bank of Boston’s website at https://www.bostonfed.org/Home.aspx.