The Arizona Community Reinvestment Collaborative is a coalition founded to support initiatives of neighborhood-based organizations that benefit low- to moderate-income residents and small businesses. ACRC brings community members, community groups, non-profits, financial institutions, and government agencies together to collaborate to create greater impact by pooling financial resources, sharing knowledge of nonprofit providers and community needs, and engaging new members to contribute to community development throughout Arizona.
As a response to the foreclosure crisis, an informal collaborative of regional and community banking professionals along with community engagement professionals came together in 2008 to fund the Arizona Foreclosure Taskforce, Foreclosure Workbook and foreclosure prevention counselors.
Over the next six years, the collaborative provided $142,082.00 in grants to five community organizations addressing financial literacy training, small business development and capacity building technical assistance, low-to-moderate income students and a report addressing needs of affordable housing in Arizona.
After a four-year hiatus, a steering committee was formed in June 2018 to relaunch the Collaborative with the administrative support of LISC Phoenix.
The renewed focus of the Collaborative is to identify the financial health needs of the community and actively promote efforts to meet those needs with the opportunity, capacity, and resources to live in stable communities and build wealth.
The ACRC provides Arizona bankers space to share best practices, learn and grow professionally in a non-competitive, cooperative environment. ACRC members can network, learn through professional development opportunities, and serve through volunteer opportunities.
The purpose of the Collaborative is to work to identify the financial health needs of the community and actively promote efforts to meet those needs with the opportunity, capacity and resources to live in stable communities and build wealth.
Coupled with capacity building, ACRC provides strategic capital investments designed to foster long- and short-term financial health and resilience. The capital provided is based on the business plan and consistent with each grantee organization’s needs. Strategic capital investments may take many forms based on the outcome of the assessment, but do not provide general operating support or endowment funds.
The goal of ACRC’s capacity building is to increase the operational skills of the participants and the overall strengths of each organization and additionally, to examine and improve the habits and practices which inform current decision-making.
Membership is open to financial institutions in Arizona that are subject to the requirements of the Community Reinvestment Act. Minimum dues are $1,000. Member organizations are encouraged to contribute commensurate with their size.
Deanna Murphy, JPMorgan Chase
Ramiro Pompa, BOK Financial
David Crummey, PNC Bank
Art Perez, U.S. Bank
Lourdes Sierra, PNC Bank
Ramiro Pompa, BOK Financial
Maria Echeveste, Bank of America
c/o LISC Phoenix, 4520 N Central Ave, #570, Phoenix, AZ 85012
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