Dear Shareholders and Friends:
As we close 2024 and move energetically into 2025, Clearinghouse CDFI continues to lead with purpose and deliver meaningful impact in low- and moderate-income communities throughout the United States. With changes in the economic and political landscape, we have remained focused—expanding access to capital, strengthening communities, and driving measurable change in all underserved areas, including communities of color, nationwide.
Leadership That Moves Communities Forward
A defining achievement in 2024 was the successful closing of the first phase of our corporate recapitalization. This initial $20 million equity raise was powered by 14 bank investors, including three new investors: EverBank, Huntington Bank, and Carrollton Bank. The investment by these leaders strengthens our foundation, aligns employee and shareholder interests, and supports our continued growth in assets, profitability, and impact.
Leading with Impact
Total financing in 2024 was $210 million, including New Markets Tax Credits (NMTCs), supporting 49 important projects. These loans created jobs, increased affordable housing, and provided economic opportunity throughout low-income communities.
In 2024, Clearinghouse CDFI’s lending efforts led to the development, rehabilitation, or preservation of 563 housing units, with 90% designated as affordable. These investments also played a critical role in job creation, generating or retaining 1,937 jobs that support local economies and strengthen communities.
In 2024, we continued building financial strength with:
- Our 25th consecutive year of profitability
- Total assets of $834.4 million
- After-tax earnings of $7.2 million
- Full repayment of $28 million Third Private Placement Offering debt
Overcoming Challenges
Leadership is tested in times of uncertainty. In 2024, we successfully navigated challenges, secured new capital sources, and reinforced our identity as a national lender. In doing so, we continue to be a real leader in impact finance ensuring capital flows to the communities that need it the most.
Looking Ahead
In 2025, we have a clear vision and a firm commitment to leadership and impact. The challenges ahead are real, but so is our resolve. We will keep expanding access to capital, financing solutions that matter, and investing in our nation’s often-overlooked communities. Thank you for your continued trust and partnership. Together, we are leading and inspiring.
Sincerely,
Douglas J. Bystry
Clearinghouse CDFI President / CEO / Founder