A new Federal Reserve System report, “Perspectives from Main Street: The Impact of COVID-19 on Communities and the Entities Serving Them (PDF),” shows the scope and scale of challenges U.S. communities are facing amid the pandemic. It summarizes findings of a nationwide survey of 3,900 nonprofit organizations, financial institutions, government agencies and other organizations serving urban, suburban and rural communities. The report is co-authored by the St. Louis Fed.
The Bank On movement is designed to improve the financial stability of America’s unbanked and underbanked. The St. Louis Fed and Cities for Financial Empowerment (CFE) Fund established the Bank On National Data Hub to show metrics from financial institutions related to account openings, account usage and consistency, and online access. This national reporting infrastructure represents an important step forward for accessible banking efforts.
The Federal Reserve Bank of St. Louis' Community Development Outlook Survey monitors economic factors affecting low- and moderate-income (LMI) people and communities in the Eighth Federal Reserve District. Findings from our 2019 survey are now available.
An examiner reviews the important opportunity financial institutions have in establishing relationships with community development organizations.
See more articles in the most recent Bridges.
The Community Investment Explorer tool draws on publicly available data from 500,000-plus transactions through the Community Development Financial Institution, New Markets Tax Credit and Low-Income Housing Tax Credit programs. The tool is customizable, and the 2019 update lets users conduct county-level analysis.
This report features an overview of impact investing in St. Louis and emerging trends taking place nationally. It also includes case studies of bank partnerships, foundation partnerships and tax credit investor partnerships in St. Louis.
What We're Reading
Check out a curated list of articles on a variety of community development topics that staff have found insightful.