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Community Development


Introduction

The Community Affairs function was established in each of the twelve Banks in the Federal Reserve System in 1981. The primary function of the office is to work with depository institutions, bank holding companies, nonprofit and forprofit development organizations, and local governments to identify the credit needs within a particular community and ways to address those needs. Community Affairs staff provide information about successful programs for community development lending and neighborhood revitalization.

The primary mission of the Community Affairs section at the Federal Reserve Bank of Atlanta is to promote effective community development lending, investment programs, and fair lending throughout the Sixth District. This is achieved in a variety of ways, such as:

  • Facilitating partnerships between public and private organizations that enhance credit delivery systems for community development, especially in low- and moderate-income neighborhoods.
  • Providing information to financial institutions and community development groups about the availability of funding sources (public and private) for community development purposes.
  • Raising the awareness level of the rights and responsibilities of financial institutions, individuals, and communities regarding Fair Lending, the Community Reinvestment Act, and the Home Mortgage Disclosure Act.
  • Informing and increasing the understanding of a community's assets and needs for community development projects.

Personal Financial Education
Train-the-Trainer Sessions

To publicize the importance of financial education, the Community Affairs division of the Atlanta Fed trains bankers, teachers, and community development practitioners to become personal finance educators.

In Atlanta and our branch offices the Community Development Manager works with local schools and established nonprofits to reach students and low- to moderate-income families and consumers.

Using the Federal Deposit Insurance Corporation's Money Smart curriculum (available in English and Spanish), program participants gain a broad understanding of bank products and services, consumer rights, credit issues, taxation, and personal finance concepts.

Additional Links:
Personal Financial Education
FederalReserveEducation.org
Money Smart, Federal Deposit Insurance Corporation (FDIC)
Jump$tart Coalition
National Academy Foundation, Academy of Finance
National Endowment for Financial Education
Freddie Mac, Credit Smart (also available in Spanish)
Federal Reserve Bank of Chicago, Project Money $mart
Federal Reserve Bank of Dallas, Building Wealth