LAKE FOREST, CA – April 29, 2019 – Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today that its President/CEO, Douglas Bystry, was re-elected by his peers as Chairman of the California Opportunity Investment Network (COIN) Advisory Board.
Established in 1996, COIN guides insurers on making safe and sound investments that yield environmental benefits throughout California and social and economic benefits within the state’s underserved communities. The COIN Advisory Board—consisting of the Insurance Commissioner and several leaders in insurance, economic development, impact investments, and consumer advocacy—provides focus and guidance to California Insurance Commissioner Ricardo Lara and COIN to meet its mission. Bystry has served as a COIN Advisory Board member since 2012.
In a recent release announcing COIN Advisory Board appointments, Commissioner Lara said, “My department is committed to socially responsible investing in our communities and environment, and to keeping the costs of workers’ compensation insurance affordable for businesses and their employees.”
Bystry has over 25 years of experience raising and deploying more than $1 billion in capital to low-income communities. Prior to founding Clearinghouse CDFI in 1996, Bystry was Executive Director of Santa Ana Neighborhood Housing Services and Executive Director of the Affordable Housing Clearinghouse—Clearinghouse CDFI’s nonprofit community partner. He attracted over $200 million in capital for these organizations. He also served on the National Advisory Board for the Neighborhood Reinvestment Corp., as Orange County Housing Commissioner, and served on the La Habra City Council.
“Serving as COIN Advisory Board Chairman for the past year has been a tremendous honor for me both personally and professionally,” said Bystry. “Over the next year, I hope to increase Insurance Industry investments to provide meaningful impact in more communities throughout our State.”
COIN guides insurer capital into socially responsible, environmentally sustainable, and community-oriented financial investments. COIN’s team of investment officers provides leadership for a program unlike any other in the nation. The Qualified Investment Platform qualifies investments that provide benefits to low and moderate communities across the state. COIN’s Qualified Investment Platform screens investment deals across asset classes for their risk, rates of return, and provision of tangible benefits to California’s undercapitalized communities and/or environment.
Clearinghouse CDFI has funded $1.73 billion in total loans for over 1,860 community projects over the past 22 years. These projects have created or retained more than 20,000 jobs and benefit over 1.8 million individuals. This includes the rehabilitation of more than 18 million square feet of blighted properties. These projects have benefited over 520 separate underserved communities throughout California.
About Clearinghouse Community Development Financial Institution (Clearinghouse CDFI):
Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) addresses unmet credit needs in California, Nevada, Arizona, New Mexico, and Indian Country in the Western United States. For over 22 years, Clearinghouse CDFI has helped bridge the gap between conventional lending standards and the needs of low-income and distressed communities. Clearinghouse CDFI is also a B Corp—a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More information is available at: www.ccdfi.com.
Ron Demeter, Partner
Vectis Strategies on behalf of Clearinghouse CDFI
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