New or de novo banks and credit unions are rare, even more so when born from existing community institutions. Pennsylvania's Community First Fund did just that in 2022. Jonathan Encarnación, Senior Vice President and Chief Retail Officer, shares the story of Community First Fund, the underserved market it serves, its growth through mergers, and its launch of a consumer deposit institution after 30 years of commercially focused lending.

Some highlights from the episode:

-Their legacy in micro-lending, affordable housing development, and grocery/food distribution

-The role non-financial outcomes play in measuring the success of initiatives

-Their strategy of addressing community gaps in access to housing and fresh food in addition to financial services

-The unlikely partnerships that have accelerated Community First Fund and what helped launch the credit union

Click here for Community First Fund's impact report