Board Members
Overview
Board members provide governance and oversight to ensure their CDFI advances its mission while maintaining financial strength and regulatory compliance. By approving budgets, monitoring performance, and setting long-term priorities, they help guide how the organization responds to community needs and changing market conditions.
Beyond formal governance, board members also serve as ambassadors, advisors, and champions. They bring expertise, networks, and perspectives that expand the organization’s reach and resources. Community accountability is both a defining value of CDFIs and a requirement of CDFI Fund certification — and board representation is one of the most powerful ways organizations demonstrate accountability to the communities they serve.
Whether helping to secure capital, fostering partnerships, or supporting leadership with thoughtful counsel, board members play a vital role in sustaining the vision, strength, and impact of a CDFI.
What Do Board Members Do?
- Advance the mission. Ensure the organization’s mission is clear, relevant, and reflected in its programs, services, and strategies.
- Safeguard assets. Oversee financial integrity, risk management, and long-term sustainability.
- Select, support, and evaluate the CEO. Provide guidance, evaluate performance, and plan for leadership succession.
- Ensure sufficient resources. Help identify and secure funding and capital sources that sustain the mission.
- Serve as ambassadors. Represent the organization publicly, build partnerships, and strengthen its reputation.
- Uphold strong governance. Ensure effective board practices, compliance, and accountability.
Key Skills and Sample Job Titles
Strategic Vision
Change is constant in the CDFI industry. Effective board members help leadership remain adaptive and resilient through strategic and scenario planning, while staying accountable to the mission.
Relationship Building
CDFI board members are ambassadors and advocates. They build connections and rally new partners and resources to advance the mission.
Creative Problem-Solving
CDFIs often face complex challenges at the intersection of finance, regulation, and community needs. Strong problem-solving skills help board members identify innovative approaches to deploy capital, strengthen operations, and expand impact.