Community First Fund has changed its name to Finanta
We are Finanta!
(Nov. 15, 2024) – Community First Fund, a leading community development financial institution (CDFI) and federally chartered credit union proudly announces its official name change to Finanta. This transformation marks a pivotal moment for the organization, which serves immigrants, People of Color, women and those living in low-income communities in the greater Philadelphia area, eastern and southern Pennsylvania, New Jersey, and Delaware.
The name Finanta comes from the well-respected CDFI that merged with Community First Fund in 2020 and carries a legacy of more than 30 years in the Philadelphia region. Finanta captures the vibrancy and community-centered approach to fostering change on a foundational level by providing accessible, responsible financial services.
Furthermore, Finanta is a more consumer-friendly name that will help accelerate the growth of Finanta Credit Union, with new branches planned for Philadelphia and Reading. All staff, senior leadership, and board, product offerings and services, and regions of service will remain unchanged. Its mission, to create financial equity through wealth-building opportunities and support for individuals, families, and business owners, remains at the heart of its efforts.
“The name change to Finanta is a declaration of who we are and what we stand for,” said Daniel Betancourt, President and CEO of Finanta. “We are building on a foundation of economic inclusion and community partnership, bringing forward a name that strongly aligns with our mission and the diverse communities we serve.”
The name change follows a historic year for the organization. Its business and affordable housing lending broke the organization’s record, exceeding $52 million. Finanta Credit Union grew to over $10 million in assets, supported members with over $2 million in capital, and launched a free financial education program for English and Spanish speakers.
Since 2013, a total of $160 million in New Markets Tax Credits were allocated to the organization, allowing for opportunities to fund impactful, large-scale projects to help revitalize neighborhoods and build local financial equity. Our most recent award was $40 million in 2024. “Finanta embodies our work to create opportunities where everyone can prosper,” said Betancourt. “It reflects our commitment to being connected, responsive and embedded in the communities we all call home.”
Multiple channels of communication are being used to reach out to clients, members and community partners to communicate the name change from Community First Fund to Finanta starting in November. Read more information / FAQs about the name change here
About Finanta (formerly Community First Fund)
Finanta (formerly Community First Fund) is a nonprofit Community Development Financial Institution dedicated to fostering community ownership among immigrants, People of Color, women, and those living in low-income communities through comprehensive financial products and services. For over 30 years, the organization has supported small businesses, nonprofits, and community projects in the greater Philadelphia area, eastern and southern Pennsylvania, New Jersey, and Delaware.
For more information about Finanta, visit finanta.org.
About Finanta Credit Union (formerly Community First Fund Credit Union)
Finanta Credit Union (formerly Community First Fund Credit Union) is a federally chartered credit union that offers accessible and responsible financial products and education that help people build wealth. The organization’s approach to fostering financial wellbeing and community revitalization includes being deeply integrated in the communities it serves, nurturing growth and opportunity.
For more information about Finanta Credit Union, visit finantacreditunion.com