Measuring Economic and Social Impacts of Membership in a Community Development Financial Institution

Jane Kolodinsky, Caryl Stewart and Antonia Bullard

Journal of Family and Economic Issues, 2006, vol. 27, issue 1, 27-47

Abstract: This study uses qualitative and quantitative measures to answer the question: “does a community development financial institution (CDFI) provide a measurable level of social benefit to its members?” Results indicate that a CDFI does change lives in many important ways, from providing members with the ability to get their financial houses in order, to helping members take control of their financial futures, and finally through building a sense of empowerment that reaches beyond the finances of an individual or family. In general, impacts were greater for lower income and less educated households, households with children, households that used more services, and for households that indicated wealth and asset building services were most important. Copyright Springer Science+Business Media, Inc. 2006

Keywords: banking; CDFI; finance; low income; social capital (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/s10834-005-9002-7

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