A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Community banking and economic development: Lessons from Los Angeles
Among the changes in the field of community development is the growing importance of microfinance, both to provide access to credit and as a vehicle for empowerment. Community banks are recognized for their role in meeting these goals, although they remain controversial, as the goals of microfinance are not always agreed upon, with government officials and community members emphasizing different interests. We examine the Los Angeles Community Development Bank to glean further lessons regarding the role community banks can play in community development. Among the lessons from this experience are that politics are inescapable in the design of community banks; the economics of banking tends to undervalue community needs; and cultural factors include both professional and community-level challenges. Accounting for these factors can help community banks empower communities to meet the challenges of eliminating poverty.
Community banking and economic development: Lessons from Los Angeles
Among the changes in the field of community development is the growing importance of microfinance, both to provide access to credit and as a vehicle for empowerment. Community banks are recognized for their role in meeting these goals, although they remain controversial, as the goals of microfinance are not always agreed upon, with government officials and community members emphasizing different interests. We examine the Los Angeles Community Development Bank to glean further lessons regarding the role community banks can play in community development. Among the lessons from this experience are that politics are inescapable in the design of community banks; the economics of banking tends to undervalue community needs; and cultural factors include both professional and community-level challenges. Accounting for these factors can help community banks empower communities to meet the challenges of eliminating poverty.
Community banking and economic development: Lessons from Los Angeles
Andranovich, Greg (author) / Modarres, Ali (author) / Riposa, Gerry (author)
Community development journal ; 42 ; 194-
2007-04-01
Article (Journal)
Electronic Resource
English
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