Broadway Federal Bank Receives $750,000 From The U.S. Treasury’s CDFI Financial Assistance Award Program
Broadway Federal Bank (Broadway) today announced that is has been granted approval of a $750,000 Financial Assistance Award from the Community Development Financial Institutions Fund (CDFI Fund), a department of the U.S. Treasury. Broadway was recognized for its record of community development lending and investing in South Los Angeles’ underserved communities.
Broadway Chairman and CEO Paul C. Hudson stated, “We are honored to be selected as a first time recipient of a CDFI Financial Assistance Award, and excited to receive the highest level of award that was granted in this funding round by the CDFI Fund. The award will provide additional support for our mission of serving low to moderate income communities in Southern California by contributing to Broadway’s financial strength and income.” He went on to say, “CDFI funding is a valuable source of financial support for CDFI certified community based organizations, particularly in these challenging economic times.”
The CDFI Fund received 408 applications from organizations across the nation, which collectively requested more than $467 million under the FY 2010 funding round. A total of $104.9 million was awarded to 180 financial organizations addressing underserved communities in 44 states and the District of Columbia. Through the CDFI Program, the CDFI Fund invests in and builds the capacity of private, for-profit and non-profit community-based organizations known as Community Development Financial Institutions that serve rural and urban low-income communities that lack adequate access to affordable financial products and services.
Broadway Federal Bank, f.s.b. is the leading community-oriented savings bank in Southern California serving low- to moderate-income communities. We offer a variety of residential and commercial real estate loan products for consumers, businesses, and non-profit organizations, other loan products, and a variety of deposit products, including checking, savings and money market accounts, certificates of deposits and retirement accounts. The Bank operates five full service branches, four in the city of Los Angeles, and one located in the nearby city of Inglewood, California. Broadway is the wholly owned subsidiary of Broadway Financial Corporation, a publicly traded NASDAQ company, trading under the symbol “BYFC”.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV