Stanley Keasling, RCAC’s CEO, accepted the Wells Fargo NEXT Awards for Opportunity Finance Photo credit: Sam Levitan © 2014
In October, RCAC received $2 million from the Wells Fargo NEXT Awards for Opportunity Finance. The multi-million dollar award will allow RCAC to expand its Development Solutions initiative to boost development of affordable multi-family housing in rural and Native communities in 13 western states.
The NEXT Awards celebrated RCAC and the two other 2014 NEXT Opportunity Awardees—Florida Community Loan Fund and New Jersey Community Capital—in an awards ceremony at the Opportunity Finance Network Conference in Denver, Colo., on October 15.
“We are really excited to receive this recognition, and it provides us an opportunity to expand our Development Solutions strategy to train rural housing developers.”
RCAC board and staff in the green room after accepting the award at the OFN conference. Back, l to r: Josh Griff, loan officer; Gary Severson and David Provost, board members; Stanley Keasling, CEO; Michael Carroll, director – lending & housing; Kevin McCumber, CFO; John Sheehan, board member. Middle, l to r: Flo Raitano, former board member; Carol Rosset, fund developer; Juanita Hallstrom, manager – lending & housing. Front, l to r: Julia Helmreich, director, CDE; Anita Gahimer Crow, board vice-president; Vickie Oldman-John, board member and Robert Rendon, board president. Photo credit: Sam Levitan © 2014
To further show its appreciation Wells Fargo created a video to showcase RCAC’s efforts and achievements.
The NEXT Awards is the nation’s largest awards program recognizing CDFIs—community development financial institutions—working in bold, new ways to expand coverage of responsible financial products and services in their communities. This year the NEXT Awards, presented by OFN with the support of the John D. and Catherine T. MacArthur Foundation, focused on CDFIs with innovative strategies addressing the Future of Housing Finance.
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