Investments Create or Retain 2,026 Jobs
Recently, the U.S. Office of the Comptroller of the Currency (OCC) issued an Advance Notice of Proposed Rulemaking (ANPR) that laid out a series of questions about and some potentially sweeping changes to the Community Reinvestment Act (CRA). The OCC is one of the three federal agencies that regulate financial institutions, including evaluating their CRA performance. CRA is a law, passed in 1977, that provides incentives to banks to provide loans and services to people and communities with low and moderate incomes. CRA has played a huge role in providing needed capital and services to low-income home buyers, small businesses, and CDFIs, which have a mission to serve these markets. CEI, along with many other CDFIs, advocates, financial institutions, and community members, responded to the ANPR with comments regarding the importance of maintaining a strong and flexible CRA, and with suggestions on some improvements, especially around how to better serve rural communities.
By Betsy Biemann and Keith Bisson — published in the Opinion section of the Bangor Daily News, November 4, 2018
2018 Marks the 30th Anniversary of H.R. 5050
The following article appeared in Nonprofit Quarterly on October 16, 2018.
October 15, 2018 – Bangor, Maine – Mobile Price Card, Inc (MPC) is revolutionizing the way cellular retailers price and merchandize their products. CEO Chad O’Leary announced today that it closed its Series A round of financing led by Maine Venture Fund (MVF) with participation by CEI Ventures, Inc. (CVI).
CEI is joining a diverse array of partners that believe that there is an opportunity for Maine to lead in the clean energy economy. Because we are so close to our environment, Mainers see the impacts of a changing climate in their everyday lives. Committing to a clean energy future not only gives us something we can do in our communities to benefit the environment, it also opens the door to new jobs and investment at a time when many rural communities are undergoing tough economic transitions.
August 14, 2018 – Brunswick, Maine —Coastal Enterprises, Inc. (CEI) announced today that it has received strong ratings for its fund management from Aeris, the independent rating and information service for community investment funds. CEI received a four-star impact management rating with Policy Plus and AA- financial strength and performance rating. Aeris provides comprehensive assessments of a community investment fund’s financial strength, performance and impact management.
Financing supports timberland purchase; introduction of new safe-logging technology
Anna Barnes, Bowdoin College (2020) “I am working with Keith Bisson, President of CEI, on an assessment of CEI’s internal environmental impact. I’m researching best practices and creating a baseline of CEI’s environmental footprint, looking at metrics such as greenhouse gas emissions, water use and waste production. I will also be developing a tracking tool that allows CEI to visualize its environmental impact, set goals for improvement and benchmark its future performance against the base year. This work will help CEI reaffirm its commitment to promoting a green economy and set an example by documenting its status as an environmentally responsible organization.”