Press Clippings

The aim of Wachovia NEXT Awards is to propel the opportunity finance industry into a stage of unprecedented growth and visibility. Here is a selection of recent media coverage online and in print. Check back frequently for updates.

El Sentinel reports, La Cooperativa Comunitaria Latina de Crédito (CCLC), la primera institución financiera latina bilingüe del estado de Carolina del Norte, recibió un premio nacional y fondos para impulsar el programa de préstamos.

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SocialFunds.com reports, ACCION Texas and the Latino Community Credit Union were awarded the Wachovia NEXT Awards for Opportunity Finance on December 12th in Miami, FL. The two community development financial institutions (CDFIs) will split $8.25 million in grants and awards. The awards were presented by Wachovia Bank and Opportunity Finance, in partnership with the John D. and Catherine T. MacArthur Foundation.

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Philanthropy News Digest reports, The Wachovia and John D. and Catherine T. MacArthur foundations have announced cash prizes totaling $8.25 million to the first two winners of the Wachovia NEXT Awards for Opportunity Finance.

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Portfolio.com reports, ACCION Texas earns national Wachovia award for microlending practice. San Antonio microlender ACCION Texas has been selected to receive $2.75 million from the national Opportunity Finance Network.

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Triangle Business Journal reports, The Latino Community Credit Union has won a $5.5 million award to expand its business, it said Thursday.
The nonprofit credit union, based in Durham, said the money from the Wachovia Foundation and the John D. and Catherine T. MacArthur Foundation will enable it to open three new branches. It already has locations in Durham, Charlotte, Raleigh, Greensboro and Fayetteville.

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MSN Money reports, ACCION Texas earns national Wachovia award for microlending practice San Antonio microlender. ACCION Texas has been selected to receive $2.75 million from the national Opportunity Finance Network.

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Los Angeles Business reports, ACCION Texas earns national Wachovia award for microlending practice San Antonio microlender. ACCION Texas has been selected to receive $2.75 million from the national Opportunity Finance Network.

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The Charlotte Business Journal reports, The Wachovia Foundation and the John D. and Catherine T. MacArthur Foundation have funded an $8.25 award for community-development financial institutions.

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The New York Times reports that the Wachovia NEXT Awards for Opportunity Finance is one of several new, large award programs designed to fuel innovation and draw philanthropies and businesses closer together. These awards comprise a bold new trend toward market-based philanthropy.

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The StamfordPlus.com reports Housing Development Fund (HDF), a unique nonprofit bank providing funding for affordable housing and an array of homebuyer education and assistance programs, has been selected as a finalist in the Wachovia NEXT Award for Opportunity Finance.

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The Intelligencer Joural reports Community First Fund is one of 10 organizations nationwide competing for the Wachovia NEXT Awards for Opportunity Finance. Two groups will be selected to share $8.25 million in grants and investments offered by Opportunity Finance Network and sponsored by The Wachovia Foundation and John D. and Catherine T. MacArthur Foundation.

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PNNOnline.org reports The Wachovia NEXT Awards for Opportunity Finance in partnership with the John D. and Catherine T. MacArthur Foundation named 10 U.S. community development financial institutions (CDFIs) as semi-finalists for $8.25 million in grants and awards under an unprecedented new awards program offered by the Opportunity Finance Network and sponsored by The Wachovia Foundation and the John D. and Catherine T. MacArthur Foundation.

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CorpusChristiDaily.com reports ACCION Texas has been selected as a semifinalist for the Wachovia NEXT Awards for Opportunity Finance, the premiere national award for community development finance. Mark Pinsky, president and CEO of the Philadelphia-based Opportunity Finance Network said: “ACCION Texas embodies the type of high-potential CDFI that the Wachovia NEXT Awards for Opportunity Finance was designed to propel to a next level of growth, success, and staying power with a major one-time infusion of capital.”

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The Credit Union National Association reports Latino Community CU has been named a semifinalist for a national award that includes a $500,000 unrestricted grant and a $5 million loan available at below-market rates.

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BlackEnterprise.com reports The new award program recognizes small economic development loan funds that help finance affordable housing, small businesses growth and the construction of public facilities. The awards are being offered by Opportunity Finance Network and sponsored by the Wachovia Foundation and the John D. and Catherine T. McArthur Foundation.

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Lancaster New Era reports Lancaster's Community First Fund on Tuesday was named one of four semi-finalists for a $2.75 million Wachovia NEXT Award. The new award program recognizes small economic development loan funds that help finance affordable housing, small businesses growth and the construction of public facilities.

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ArkansasBusiness.com.com reports Southern Bancorp of Arkadelphia is among 10 community development financial institutions that are semifinalists for $8.25 million in grants and awards under a program offered by the Opportunity Finance Network.

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San Antonio Express-News reports The Wachovia Foundation, the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network will chose two community development financial institutions to share in a new $8.25 million award program, and San Antonio-based Acción Texas is one of the possibilities.

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The News & Observer reports The Latino Community Credit Union, based in Durham, has been named a semifinalist for a national award that would enable it to open three new branch offices, including one that would most likely be in Wake County.

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Worldnews.com reports Community-Based Groups Eyed for 'Transformational' Award Offered by The Wachovia Foundation, MacArthur Foundation and Opportunity Finance Network; Organizations Range from NH to CA.

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RaleighDurham.com reports The Wachovia NEXT Awards for Opportunity Finance in partnership with the John D. and Catherine T. MacArthur Foundation has selected Durham, N.C.-based Latino Community Credit Union (LCCU) as a semi-finalist to be one of two U.S. community development financial institutions (CDFIs) that will share in $8.25 million in grants and awards from an unprecedented new awards program offered by the Opportunity Finance Network and sponsored by The Wachovia Foundation and the John D. and Catherine T. MacArthur Foundation.

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New Hampshire Business Review reports The Concord-based New Hampshire Community Loan Fund has been named a semifinalist in a national competition in which two community development financial institutions will share $8.25 million in grants and awards. The Wachovia NEXTAwards for Opportunity Finance are presented by the Opportunity Finance Network and sponsored by The Wachovia Foundation and the John D. and Catherine T. MacArthur Foundation. The winners will be named in December in Miami.

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Philanthropy Journal reports The Latino Community Credit Union in Durham has been named a semifinalist for $5.5 million in funding from The Wachovia Foundation in Charlotte and the John D. and Catherine T. MacArthur Foundation in Chicago.

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San Antonio Business Journal reports San Antonio microlender ACCION Texas has been named a semi-finalist for the Wachovia NEXT Awards for Opportunity Finance. The Wachovia NEXT Awards named 10 community development financial institutions as semi-finalists for $8.25 million in grants and awards.

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Orange County Register reports A Lake Forest firm that provides financing to help build affordable housing and other types of community development projects is a semi-finalist for the Wachovia NEXT awards, a foundation behind the grant program announced today.

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SRI-advisor.com reports Community development financial institutions (CDFIs) help support low-income people and non-profits with access to capital to build houses, start businesses and create jobs. However, CFDIs themselves need the support of investors and organizations to help them live up to their missions. The Wachovia Foundation, MacArthur Foundation and Opportunity Finance Network (OFN) recently launched a new five-year program to honor CDFIs who stand out as leaders in their field.

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Institutional Shareowner reports, Three heavy-hitters come together to support community development financial institutions with $42.5 million pledged over the next five years in grants and loans. The Wachovia Foundation, MacArthur Foundation and Opportunity Finance Network (OFN) recently launched a new five-year program to honor CDFIs who stand out as leaders in their field. The three partners have committed $42.5 million to the Wachovia NEXT Awards with the first two recipients receiving $8.25 million in December 2007.

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SocialFunds.com reports, Community development financial institutions (CDFIs) help support low-income people and non-profits with access to capital to build houses, start businesses and create jobs. However, CFDIs themselves need the support of investors and organizations to help them live up to their missions. The Wachovia Foundation, MacArthur Foundation and Opportunity Finance Network (OFN) recently launched a new five-year program to honor CDFIs who stand out as leaders in their field.

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Disability Funding News reports, The Wachovia Foundation, along with the MacArthur Foundation and Opportunity Finance Network are offering $42 million this year to support community development generally, and, specifically, two important goals of the disability community: more affordable housing and employment opportunities for low-income individuals.

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American Banker reports, Wachovia's philanthropic arm is teaming up with two nonprofits, the John D. and Catherine T. MacArthur Foundation and Opportunity Finance network, to sponsor a competition that will make $42 million in grants and PRIs to community development financial institutions over the next five years.

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Multi-Housing News reports, The Wachovia Foundation, the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network will award $42 million to exceptional community development financial institutions (CDFIs) serving low-income and low-wealth people throughout the U.S.

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Global Banking News reports, The Wachovia Foundation, in association with John D. and Catherine T. MacArthur Foundation, is to donate to a community development programme. The bank and its associates are to award $42 million for community development financial institutions that serve low-income individuals in the United States.

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Phillyburbs.com reports, Low-income residents looking to open bank accounts or start their own businesses will benefit from $42 million in grants and loans announced Wednesday, June 27, 2007. Wachovia Corp. and the MacArthur Foundation have partnered with the Opportunity Finance Network to create the Wachovia NEXT Awards for Opportunity Finance, a $9.1 million-a-year award for banks, nonprofits, and other organizations that lend money to people conventional banks will not touch.

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The San Francisco Business Times reports, The Wachovia Foundation, along with the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network, will award $42 million to community development financial institutions that serve low-income individuals in the United States. The Wachovia Foundation is making a $16.8 million dollar grant, and the MacArthur Foundation is making $25 million low-cost, long-term loan to fund the awards.

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The Philadelphia Business Journal reports, The Wachovia Foundation, along with the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network have formed a five-year partnership program called the Wachovia NEXT Awards. The program will award $42 million to community development financial institutions that serve low-income individuals in the United States.

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MSN Money reports, The Wachovia Foundation, along with the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network, will award $42 million to community development financial institutions that serve low-income individuals in the United States. The five-year partnership program is called the Wachovia NEXT Awards for Opportunity Finance.

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The Minneapolis and St. Paul Business Journal reports, The Wachovia Foundation, along with the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network, will award $42 million to community development financial institutions that serve low-income individuals in the United States.

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The Charlotte Business Journal reports, The Wachovia Foundation, along with the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network, will award $42 million to community development financial institutions that serve low-income individuals in the United States. The recipients will be named in December in Miami.

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