Wachovia NEXT Awards Ceremony, October 28, 2009 in Charlotte, North Carolina
As the award proceedings for the Third Annual Wachovia NEXT Awards began Jon Campbell, Executive Vice President, Social Responsibility Group, Wells Fargo addressed the crowd and said, “We are now one team with our Wachovia colleagues and Wells Fargo is honored and delighted to join with all of you to celebrate the vision, innovation, and impact of CDFIs and the opportunity finance industry.” He added, “We believe that CDFIs will play increasingly important roles in financial markets and in the lives of many Americans.”
Mark Pinsky, President and CEO of OFN, recognized CDFI excellence by inviting the “class” of 2009 on stage—the semi-finalists and finalists of the Third Annual Wachovia NEXT Awards. The audience applauded as they recognized: Coastal Enterprises, Inc., Community First Fund, Corporation for Supportive Housing, Nonprofit Finance Fund, and ShoreBank Enterprise Cascadia.
Mark said, “You are proof that we are UNITED in pursuit of our common goals to provide capital and financial services to benefit low-wealth people and communities. You have continued our industry's tradition of innovation and responsible lending in these challenging times.”
Next Mike Rizer, Executive Vice President of Wachovia, a Wells Fargo Company, revealed and congratulated each of the four $25,000 award recipients in turn: CASA of Oregon for Excellence in Advocacy, Citizen Potawatomi Community Development Corporation for Excellence in Community Impact, Seedco Financial Services, Inc. for Excellence in Financing, and Pacific Community Ventures for Excellence in Innovation.
Then the audience saw videos and heard speeches from Federation of Appalachian Housing Enterprises and New Hampshire Community Loan Fund—two extraordinary CDFIs with breakout strategies that are especially important now.
FAHE is the 2009 recipient of the Wachovia NEXT Award for Opportunity Finance in the $10 million-$50 million dollar category.
Debra Schwartz, Director of Program Related Initiatives, MacArthur Foundation said, “The Selection Committee chose FAHE for the extraordinary things it has achieved through its Berea Performance Compacts, peer-to-peer operational networks that aggregate demand, streamline operations, and improve the supply of financing to a very hard to serve area in extremely distressed Central Appalachia.”
Jim King, President and CEO of the Federation of Appalachian Housing Enterprises delivered an inspiring speech.
Then Debra introduced Juliana Eades, President of the New Hampshire Community Loan Fund, the 2009 Wachovia NEXT Award recipient in the $50 million dollar and greater category.
Debra said, “The Selection Committee chose the Community Loan Fund for its transformational work in creating a fair and equitable mortgage market for manufactured home owners. The Committee concluded that the Community Loan Fund is a model for capital-led systems change.”
Juliana delivered a memorable speech.
Everyone enjoyed the extraordinary event. Who will be NEXT?