St. Louis Fed Announces 2019 Investment Connection Series

ST. LOUIS – The Federal Reserve Bank of St. Louis is kicking off the second full year of its Investment Connection program on May 21 in Memphis, Tenn., to be followed by other live events around the Eighth Federal Reserve District in 2019. This program provides community development organizations with an opportunity to present their Community Reinvestment Act (CRA)-eligible projects to financial institutions and other funders for potential financial support.

Since its inception in November 2017, banks, CDFIs and foundations have committed more than $1.1 million in grants, loans, and investments to CRA-eligible projects in their communities, after being brought together through the Investment Connection program. Since the program started, 75 organizations responded to the program’s request for proposals, and of those, 40 presented their pitches live to more than 230 bankers and other funders.

“This program connects organizations with financial institutions and others who are interested in funding sustainable initiatives, especially those in low- and moderate-income, distressed and underserved communities,” said Executive Vice President Julie Stackhouse, who leads the St. Louis Fed’s Supervision, Credit and Community Development functions. “The opportunity for discussion at Investment Connection events increases the likelihood that the proposals will come to fruition.”

Projects that found funding through connections they made in the program address an array of community development needs. The majority of the projects focused on neighborhood revitalization and stabilization. Others addressed small business, economic and workforce development, community facilities and affordable housing. Organizations made 169 documented connections this year.

“This is a unique opportunity for community members from diverse sectors—banks, nonprofits, government and philanthropy—to hear about development opportunities and needs within their communities that they may not have known about,” said Assistant Vice President Yvonne Sparks, who directs the St. Louis Fed’s Community Reinvestment Initiatives. “They might just discover that by working together they can have a bigger impact and higher return on investment in their communities.”

View videos of community organization leaders and funders who participated in past events, read about the Investment Connection process and successes, and find other information on the new Investment Connection webpage. 

The 2019 Investment Connection events schedule includes:

• May 21 – Memphis, Tenn.
• July 24 – Little Rock, Ark.
• Sept. 24 – Columbia, Mo.
• Oct. 17 – St. Louis, Mo.
• Nov. 14 – Louisville, Ky.