Equity + Our Work

ESG INVESTING TO SUPPORT COMMUNITIES

As CFWNC has grown, so have options for fund investment. The Socially Responsible Portfolio utilizes an Environmental, Social, and Governance (ESG) investment filter and is for fundholders who want to align their investment activities with their values. Within the ESG Portfolio, CFWNC makes investments that benefit WNC and provide a modest financial return. CFWNC partners with Community Development Financial Institutions that promote economic revitalization in distressed communities and provide financial services in lowincome communities.

For four years, CFWNC has been an investor in Mountain Housing Opportunities’ Loan Fund that advances home ownership and community development. Recently, we increased our impact investing to $1.5 million targeting affordable housing, economic development, environmental sustainability, minority advancement, local food and agriculture, and women and minority-owned businesses. Community Capital Management invested $500,000 on CFWNC’s behalf supporting affordable mortgages and rental housing in Buncombe and Jackson counties. Jackson Village Apartments, one-bedroom units providing affordable housing for seniors ages 62 and older with rents based on an applicant’s income, received nearly $300,000, while just under $200,000 is supporting affordable mortgages in Buncombe County. An investment with Mountain BizWorks is expanding access to financing for entrepreneurs and growing local businesses. Funds have supported the purchase of a building to secure a location for an auto shop in Etowah, a market expansion for a local commercial and residential painter, and assistance to a Rutherford social enterprise that helps individuals transitioning out of homelessness. Money invested with Partner Community Capital was earmarked for local food and agriculture, a target sector for the firm’s lending efforts since 2008. Projects include a $450,000 expansion of a local food business in Black Mountain and a $25,000 loan for an ice cream truck at a farm stand in Cherokee. Additional funds will be deployed through several loans strengthening the regional food system. These investments expand access to financing for local businesses, create inclusive economic opportunities and meet community needs. ESG investing is another way that CFWNC uses its assets to support the region.

Elizabeth Brazas, Brenda Mills and Spencer Butler, photo courtesy of CFWNC CFWNC staff continues to learn from experienced community partners to deepen our knowledge and equity work. We recently hosted a lunch and conversation with Brenda Mills, Asheville’s Equity & Inclusion Director. In her new role, she emphasizes involving stakeholders in decisions and encourages attendance at neighborhood meetings. Her responsibilities include overseeing the city’s commitment to reparations, a process that deserves time and deep thought. CFWNC values the opportunity to explore equity issues with our partners and colleagues.