Financial institutions

First Latina to lead the U.S. Community Development Financial Institutions Fund

Marla Bilonick has become the first Latina unanimously elected to chair the Community Development Advisory Council of the United States Department of Treasury’s Community Development Financial Institutions (CDFI) Fund in its 27-year history. .

This is a historic moment for the Latino community in the federal government, and moreover, Bilonick is only the second woman to hold this position.

“I am humbled and honored to serve in this role, and look forward to bringing my perspectives as a leader of community and national CDFIs to this board at a time when CDFIs are more critical than ever to the success of our economy,” Bilonic said in a statement.

On September 15, President Joe Biden named Bilonick to the advisory board as one of nine private citizens who have demonstrated expertise and service in developing the economic community. She will serve as its president for a four-year term.

The board consists of a total of 15 members under the Community Development Banking and Financial Institutions Act 1994.

Bilonick has a history of its proven ability to support underserved neighborhoods both domestically and internationally. His experience in finance and development began in 1999 as a specialist in microcredit funds at the Latino Economic Development Center.

She has an eight-year track record of working in community settings at the center, and was later promoted to CEO in 2014.

In April, Bilonick accepted the position of President and CEO of the National Association for Latino Community Asset Builders (NALCAB), where she currently leads the organization in DC NALCAB is a national hub that networks more than 140 nonprofit organizations that help Latinos and immigrants in America. . The organization believes that when Latin American communities thrive, the result is a strong economy for all.

Bilonick’s experience extends beyond where she also helped distribute international aid with donor agencies in Latin America for more than three years. Her role as chair will help lead discussions surrounding federal funding programs in the United States

CDFI works to generate economic growth for local communities through the support of mission-driven organizations. These funds create support for small businesses, first-time home buyers, underserved communities, build affordable housing, and more.

This Latina’s recent achievement holds promise for future rising multicultural leaders who are contributing to the conversation for better communities and who will lead the course of our nation.