WASHINGTON (8/5/15)--The U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund will host a webinar Aug. 13 about Pay for Success, a program designed to address a number of social issues.
CDFI Fund Director Annie Donovan, the Corporation for National and Community Service and the Federal Reserve will lead the webinar.
According to the CDFI Fund, Pay for Success is “an innovative approach to addressing complex social issues such as homelessness, recidivism, and education disparities.”
Generally, private investors including CDFIs pay upfront for preventive social services or early interventions to be delivered to a high-need target population. Should these services deliver their intended results, governments then repay the investors with a return on their investment.
CDFIs’ knowledge of local markets, experience in public-private partnerships, and stewardship of impact investing makes them an especially important aspect of Pay for Success.
As of June 30, credit unions make up 261 of 958 CDFIs nationally.
The webinar will be held Aug. 13 from 4 to 5 p.m. (ET). Registration is now open.