A Statesville native has been named president and CEO of the new community development loan fund.
John Holdsclaw IV, a 1988 graduate of Statesville High School, heads Rochdale Capital.
The National Cooperative Bank, a leading financial services company dedicated to providing banking products and services to cooperatives and socially responsible organizations nationwide, announced the formation of Rochdale Capital.
Rochdale Capital is a new not-for-profit community development loan fund that will provide financing and technical assistance to co-operative businesses and other community organizations. With a national footprint, Rochdale Capital will focus on making financial services accessible to disadvantaged communities, particularly women and/or growing minority-owned small businesses.
“National Bank Cooperative is honored to provide initial financing and to be an ongoing strategic partner of Rochdale Capital,” said Casey Fannon, Acting CEO and President of National Bank Cooperative. “For more than 43 years, NCB has been on a mission to support low-income communities and the expansion of co-operative initiatives. With the creation of Rochdale Capital, we can have a greater impact in communities nationwide.
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“I believe property is the foundation of vibrant communities,” Holdsclaw said. “Rochdale Capital was created to advance the development of community ownership and asset creation in struggling rural and urban communities. We look forward to working with NCB and other Community Development Financial Institutions (CDFIs) across the country to achieve this mission.
Rochdale Capital hopes to be certified as a CDFI by the US Treasury later this year, joining the more than 1,200 private sector organizations across the country that attract capital from private and public sources. CDFIs provide financial services, loans and investments, while offering training and technical assistance services in economically disadvantaged communities.
For more information about Rochdale Capital, contact Holdsclaw at 202-349-7448 or email@example.com