After growing by nearly 10 times between 2011 and 2024, assets held by community development financial institutions declined modestly between the fourth quarter of 2023 and second quarter of 2025, according to a new report from the Federal Reserve Bank of New York.
Findings:
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The nation’s 1,378 certified CDFI institutions held $446 billion in assets as of the second quarter of 2025.
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Assets held by CDFIs shrank 3% between the fourth quarter of 2023 and the second quarter of 2025.
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The number of CDFIs declined, falling 6% between the fourth quarter of 2023 and the second quarter of 2025.
More: The latest Independent Banker magazine highlights why the mission of CDFIs and minority deposit institutions matters more than ever.