CARS™ Awards Highest Financial Strength & Impact Performance Ratings to NCB Capital Impact
Every day across the nation, a network of dedicated community development financial institutions (CDFIs) invests in underserved communities, making life better for millions of low- and moderate-income Americans.
NCB Capital Impact works among these CDFIs, which are funded largely by investors ranging from banks to insurance companies
With no uniform approach for comparing CDFIs, funders previously relied on a myriad of criteria developed within each organization to decide which financial institutions deserve their dollars. The Opportunity Finance Network (OFN) stepped up to fill the void with the creation of the CDFI Assessment and Rating System (CARS™). CARS uses an underwriting approach similar to the CAMEL rating system used for large financial institutions, but pushes beyond merely assessing financial capacity to measuring impact and policy performance.
In 2006 and 2008, NCB Capital Impact earned CARS™ ratings of "1," "AA," and Policy Plus respectively. After another rigorous review in 2009, NCB Capital Impact earned CARS’ highest rating of “1” for Financial Strength and Performance, the highest rating of “AAA” for Impact Performance and a Policy Plus for leadership in policy changes impacting disadvantaged people and communities.
“Our strong CARS rating lets investors know that they can trust our programs to return their money and make a difference in the lives of low income people,” says Jeff Brenner, Chief Financial Officer of NCB Capital Impact. "We are especially pleased in this difficult economic environment, when many financial institutions are seeking government help, that NCB Capital Impact was recognized for its continued strong performance."
“The report will offer participating investors all the information they should need for evaluating an investment in NCB Capital Impact and reduce the amount of time both organizations spend on due diligence,” Brenner says. “We are an exceedingly complex organization, because unlike a standard bank, we also provide technical assistance and policy development expertise. We are committed to the belief that it takes more than money to create a lasting economic impact in our communities. But we can’t do our job without capital, and the rating confirms for our investors that we are a premier organization in our industry.”
For more information about NCB Capital Impact’s CARS™ rating or other investor relationships, contact: Jeff Brenner at (703) 647-2306.