Congressman Cohen Announces $619,000 Community Development Institutions Fund Award to Memphis-Based River City Capital Investment Corporation
U.S. Treasury Department funding to provide financial services for low-income communities
MEMPHIS – Congressman Steve Cohen (TN-9) today announced that the Memphis-based River City Capital Investment Corporation will receive $619,000 from the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Program. The CDFI Program provides monetary awards to invest in and build the capacity of specialized financial institutions called Community Development Financial Institutions (CDFIs), empowering them to grow, achieve organizational sustainability, and contribute to the revitalization of low-income and distressed communities nationwide.
Congressman Cohen made the following statement:
“I congratulate the River City Capital Investment Corporation for this recognition of its ongoing community-development potential. Creating a stronger local community development financial institution should result in targeted and tangible investment results.”
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