CDFI Bank Charter to Support Underserved Communities Across the United States

The Community Development Financial Institution (CDFI) bank is established to provide financial services to underserved communities across the United States. The mission of the CDFI bank is to promote economic growth and development, reduce poverty and inequality, and improve the quality of life for people in underserved communities.

Article 1: Establishment The CDFI bank is established as a nonprofit organization, with the status of a church, integrated auxiliary or convention or association of churches, as designated by the Internal Revenue Service (IRS). The CDFI bank is governed by this charter.

Article 2: Objectives The objectives of the CDFI bank are to:

• Provide financial services to underserved communities, including access to credit, savings, and other financial products and services
• Promote economic growth and development in underserved communities
• Reduce poverty and inequality by creating jobs, supporting small businesses, and providing affordable housing
• Support community-based organizations and initiatives that promote social and economic development
• Foster social and environmental sustainability and responsible banking practices
• Promote financial literacy and education in underserved communities

Article 3: Governance Structure The CDFI bank is governed by a board of directors, composed of representatives from underserved communities, community-based organizations, and financial experts. The decision-making process is transparent, accountable, and based on consensus.

Article 4: Regulatory Framework The CDFI bank has a regulatory framework that includes clear and transparent rules and regulations, based on international best practices, to ensure a fair and responsible banking environment. The regulatory framework also includes social and environmental standards, and enforcement mechanisms to ensure compliance.

Article 5: Financial and Credit Facilities The CDFI bank has financial and credit facilities to promote access to credit, savings, and other financial products and services for underserved communities. The financial and credit facilities are transparent, accountable, and based on the principles of responsible banking and sustainable finance.

Article 6: Marketing and Promotion The CDFI bank has a marketing and promotion strategy that highlights the products and services offered to underserved communities. The marketing and promotion strategy is based on international best practices and takes into consideration the cultural and social context of the communities served.

Article 7: Social and Environmental Impact Assessments The CDFI bank conducts social and environmental impact assessments, based on international best practices, to ensure that its activities are sustainable and equitable, and that they benefit local communities and the environment. The assessments are conducted regularly and are made available to the public.

Article 8: Dispute Resolution The CDFI bank has a dispute resolution mechanism that allows for the peaceful and timely resolution of disputes between parties. The mechanism is based on international best practices and is designed to ensure transparency, fairness, and impartiality.

Article 9: Reporting and Accountability The CDFI bank reports regularly to the board of directors, as well as to the public, on its activities, performance, and impact. The reporting is transparent, accountable, and based on international best practices.

Article 10: Amendments This charter can be amended by a consensus of the board of directors. Any amendment must be in accordance with the objectives and principles of the CDFI bank, as outlined in this charter, and in compliance with the regulations of the Internal Revenue Service (IRS) regarding the status of a church, integrated auxiliary, or convention or association of churches.