About Community Development at the Federal Reserve
Community development programs at the Federal Reserve Board and the 12 Federal Reserve Banks support economic growth by promoting community development and fair access to credit. The function engages in a wide variety of activities to help financial institutions, community-based organizations, government entities, and the public understand and address financial products and services issues that affect low- and moderate-income people and geographic regions.
Each community development Reserve Bank function responds to local needs in its district and establishes its own programs to:
- Foster depository institutions' active engagement in providing credit and other banking services to their entire communities, particularly traditionally underserved markets
- Encourage mutually beneficial cooperation among community organizations, government agencies, financial institutions, and other community development practitioners
- Develop greater public awareness of the benefits and risks of financial products and of the rights and responsibilities that derive from community investment and fair lending regulations
- Promote among policymakers, community leaders, and private-sector decision makers a better understanding of the practices, processes, and resources that result in successful community development programs