Virginia Community Capital
Virginia Community Capital is a Community Development Financial Institution (CDFI) with a mission to create jobs, energize places, and promote an enhanced quality of life for Virginians. With offices in Christiansburg, Norfolk, and Richmond, we offer innovative and flexible financing tools throughout the state. In addition, we provide professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Virginia Community Capital’s subsidiary bank, VCC Bank, is an FDIC-insured, certified CDFI bank. VCC Bank offers banking products tailored to community banks and socially conscious investors. We also provide personal and business deposit products, including checking, savings, and certificates of deposit.
Three years after its successful initial investment, The Cameron Foundation has renewed a $1 million loan and deposit with Virginia Community Capital (VCC), a community development financial institution that makes impact investments throughout the Commonwealth. As the community begins to reopen from the COVID-19 closures, the funds will be deployed into the Tri-Cities and other areas in Cameron's footprint, supporting their economic rebuilding.
The CDFI Fund recently awarded 23 CDFIs Capital Magnet Fund awards for FY 2019. Among the awardees were Beneficial State Bank, Legacy Bank and Trust, United Bank, and Virginia Community Capital. The Capital Magnet Fund helps to create and preserve affordable housing for low-income families and economically distressed communities by attracting private capital. The Capital Magnet Fund awards competitive grants to CDFIs and qualified non-profit housing organizations. These organizations use the grants to develop, rehabilitate, reserve, and purchase affordable housing, particularly housing targeted to Low-, Very Low-, and Extremely Low-Income families.
CDBA members VCC, Sunrise Banks, Beneficial State Bank, and Amalgamated Bank have been awarded Real Leaders Impact Awards. These awards honor the 100 top impact companies applying capitalism for greater profit and greater good. It's the annual ranking of positive impact companies in the world. These companies are driving a dynamic segment of the economy, bearing a new vision of capitalism that demonstrates every transaction is an opportunity for growth and a better world.