First Latina to lead the United States Community Development Financial Institutions Fund

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Marla Bilonick became the first Latina unanimously elected to chair the Community Development Advisory Board for the Fund for Community Development Financial Institutions (CDFI) of the US Department of the Treasury in its 27-year history.

This is a historic moment for the Latino community in the federal government, and moreover, Bilonick is only the second woman to hold this position.

“I am honored and honored to fulfill this role, and look forward to bringing my perspectives as a leader of community and national CDFIs to this board at a time when CDFIs are more critical than ever for success. of our economy, “Bilonick said in a statement.

On September 15, President Joe Biden appointed Bilonick to the advisory board as one of nine private citizens who have demonstrated expertise and service in community economic development. She will assume the presidency for a four-year term.

The board of directors consists of a total of 15 members under the 1994 Community Development Banks and Financial Institutions Act.

Bilonick has a history of its proven ability to support underserved neighborhoods both nationally and internationally. His experience in finance and development began in 1999 as a specialist in microcredit funds at the Latin Economic Development Center.

She has eight years of community work experience at the center, and was subsequently promoted to CEO in 2014.

In April, Bilonick accepted the position of President and CEO at National Association of Latino Community Asset Builders (NALCAB), where she currently leads the organization in DC. NALCAB is a national hub that connects more than 140 nonprofit organizations that help Latinos and immigrants to America. The organization believes that when Latin American communities thrive, it translates into a strong economy for all.

Bilonick’s experience extends beyond horizons where she has also assisted in the distribution of international aid with donor agencies in Latin America for over three years. Her role as president will help lead discussions surrounding federal funding programs in the United States.

The CDFI works to generate economic growth for local communities through the support of mission-oriented organizations. These funds create support for small businesses, first-time home buyers, underserved communities, building affordable housing, and more.

The recent achievement of this Latina holds promise for future burgeoning multicultural leaders who contribute to the conversation for better communities and who will lead the course of our nation.


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