Connecting Communities®

Every two years, the 12 Federal Reserve Banks survey community development financial institutions (CDFIs) about industry conditions. During this Connecting Communities webinar, participants learned more about what CDFIs have shared, including:

• How demand for CDFI's products and services changed over the past year and how it might evolve in the future,
• How CDFIs leverage public funding to accomplish their work, and
• What challenges CDFIs encountered in meeting demand and delivering on their mission.

In addition to sharing the CDFI Survey results, Federal Reserve staff connected with community development leaders and financial institutions to gain a deeper understanding of economic conditions affecting a broad range of consumers, individuals, and businesses. Attendees hear more about this outreach, including how the Federal Reserve engages with local community development lenders and what we've learned from several CDFI success stories.

2025 CDFI Survey Key Findings Report: https://www.richmondfed.org/region_communities/regional_data_analysis/surveys/cdfi/survey_results/cdfi_survey_key_findings_2025

CDFI Survey Results Over Time: https://www.richmondfed.org/region_communities/regional_data_analysis/regional_matters/2025/cdfi_survey_results_over_time

This Connecting Communities podcast explores key findings from the 2025 Community Perspectives Survey, which was conducted in April and May 2025. The survey captured the current conditions and future outlook of low- and moderate-income (LMI) communities across a range of critical issues, including:

Economic mobility

• Labor market trends
• Housing
• Financial stability
• Small business conditions
• Health
• Digital access
• Education

The session also explored the capacity and needs of organizations that serve LMI communities – focusing on their ability to deliver services, access resources, maintain staffing, and managing expenses.

How resilient is your community's workforce?

A strong, adaptive workforce is a key driver of community stability. During this Connecting Communities webinar, Bill Rodgers, vice president of Community Development Research at the Federal Reserve Bank of St. Louis, presented on current trends in the labor market. A panel of workforce experts and practitioners delved into actionable strategies that you can implement to proactively build and maintain a more resilient workforce in your community.

June 5, 2025- During this Connecting Communities webinar, researchers from the Federal Reserve Board of Governors presented the key findings from the annual Survey of Household Economics and Decisionmaking (SHED). This survey was fielded in October 2024 and released on May 28, 2025. The SHED is a key tool of the Federal Reserve Board, as it helps to understand the financial circumstances of low-income families and understanding potential risks to their financial health. The researchers discussed trends in family finances, employment, and the financial risks faced by U.S. adults.

In addition to monitoring major aspects of household financial circumstances on an ongoing basis. Each year the survey also covers other topics that can directly affect financial well-being. In 2024, the survey included new questions on financial fraud, reintroduced questions on gig work, and expanded the modules on caregiving and homeowners' insurance—answers to which were covered in this session. Additionally, the survey continues to ask questions on the use of credit products, savings, and housing.

Additional Resources:

Survey of Household Economics and Decisionmaking (SHED): https://www.federalreserve.gov/consumerscommunities/shed.htm

February 13, 2025. From the northeast corner of Maine to west central Texas, leaders are partnering with regional Reserve Banks—and each other—in unique ways to help ensure that local economies work better for everyone. What does it take to work across sectors and collaborate effectively to help change a local economy?

Local leaders who participated in three Fed-supported place-based initiatives, Working Places (Boston), Advance Together (Dallas), and Southern Cities Economic Inclusion (Atlanta), discussed during a panel what economic challenges each initiative took on and how they partnered with Federal Reserve Banks' community development departments to address them. They also shared results of this work.

During this Connecting Communities webinar gain perspectives on what's needed to build sustainable and impactful collaborations. Learn more about how different sectors can contribute to and benefit from engaging in place-based initiatives, and strategies for navigating common roadblocks to achieve long-term results.

October 10, 2024. Historical and systemic factors have led to and still contribute to climate vulnerability in lower-income communities. But there are practical solutions for clean energy, resilience, and equity. In 2024, the Federal Reserve Bank of New York, in collaboration with Enterprise Community Partners and Local Initiatives Support Corporation (LISC), published a volume of essays about the intersection of community development and climate resilience.

During this Connecting Communities webinar, New York Fed Staff and community leaders discussed solutions to address urgent climate and community needs that affect vulnerable and lower-wealth communities of color.

In April 2024, the Federal Reserve conducted the Community Perspectives Survey, which focuses on economic conditions in low- to moderate-income (LMI) communities and the health of organizations serving them. Overall, the survey found poor conditions for economic mobility in LMI communities. Access to housing and increasing cost of goods and services were among the top challenges. Respondents did note that continued availability of jobs was contributing positively to economic mobility.

During this Connecting Communities webinar, Federal Reserve Staff and leaders from national community development organizations discussed the findings and how their organizations continue to provide vital services to LMI communities and play a part in promoting economic resilience and mobility.

August 8, 2023. Conversations with the community make a difference. Community development practitioners and policymakers recognize the value of conducting research with communities as partners through community-engaged research. This approach invites stakeholders into the research process by centering their perspectives and elevating their expertise. These discussions help create better services, understand policy barriers, and learn what works best.

During this Connecting Communities discussion, hear examples of how community-engaged methods can highlight the experience of workers and jobseekers. Researchers shared what they learned from these conversations and how institutions, organizations, or communities can leverage the same principles.

The Survey of Household Economics and Decisionmaking is the main survey from the Federal Reserve Board of Governors for tracking the financial circumstances of low- and moderate-income families and potential risks to their financial health. This year's survey continues to track key topics related to financial outcomes, such as the effects of inflation on household finances, emergency savings, housing, returns to education, and retirement. New topics have been added, such as food sufficiency, caregiving, employment of those with a previous arrest or conviction, and homeowners insurance.

In this Connecting Communities episode, researchers from the Federal Reserve Board of Governors shared findings from the survey on trends in financial well-being. Based on the survey results, they answered attendees' questions about the financial conditions among low- and moderate-income populations.

Bank branches in the US have been closing steadily for over a decade, but that trend accelerated during the pandemic. Online and digital banking may be out of reach for those without digital devices, broadband, and digital literacy skills. A lack of access to physical banking services can create banking deserts, or geographical areas where there is a significant lack of access to traditional bank branches. Lack of access to physical branches may create challenges for lower-income, rural, older, and disabled customers, and can restrict opportunities to improve their financial health and build wealth.

In this Connecting Communities webinar, experts shared research on bank branch closures and the value of in-person banking. They also discussed the Fed's Banking Deserts Dashboard, which analyzes where the deserts are (and could potentially be) located. A panel of experts also shared potential solutions for grappling with these issues.