Citi Foundation Announces $25 M Request for Ideas Focused on Financial Inclusion and Financial Health in Low-Income Communities in the U.S.

The Citi Foundation today announced a new round of its Community Finance Innovation Fund. With this open Request for Ideas (RFI), the Citi Foundation is committing an additional $25 million in philanthropic support to a new cohort of nonprofit community finance innovators advancing financial inclusion and financial health in low-income communities across the United States.

Research from the Financial Health Network indicates that only 30% of Americans today are financially healthy. The Citi Foundation believes that Community Development Financial Institutions (CDFIs) have an important role to play in the financial services ecosystem. CDFIs provide individuals and families with access to responsible and affordable financial products, as well as tools and services that catalyze greater financial health for all, including closing racial wealth gaps. This RFI seeks to support nonprofit community finance organizations working to implement new ideas that advance positive economic impacts.