Nonprofit Development Lab program brings together innovative nonprofit organizations to share knowledge and build capacity

Chicago, February 3, 2009 — The Center for Financial Services Innovation (CFSI) announced today the first meeting of its inaugural Nonprofit Development Lab — a network of innovative nonprofit organizations committed to serving underbanked consumers. In today’s economic environment, the work of nonprofit organizations is more important than ever, and CFSI has developed this program to catalyze the efforts of a select group of innovators.

Nonprofit Development Lab was initiated to accelerate the efforts of nonprofit organizations providing financial services and asset-development opportunities to the underbanked. CFSI provides participants with the tools, resources, and support needed to realize success with their underbanked initiatives. The convening will offer participants networking opportunities, peer exchange, increased exposure, and information and training on topics critical to the success of their projects — all to strengthen their capacity in serving the underbanked.

“Since its inception, CFSI has given financial and non-financial support to pioneering nonprofit organizations as we believe nonprofits are important players in the financial services industry,” said Sarah Gordon, Nonprofit Relationship Manager for CFSI. “The creation of Nonprofit Development
Lab reaffirms our commitment to helping build nonprofit capacity and supporting efforts that help low-income, underbanked consumers achieve financial prosperity.

Nonprofit Development Lab participants include the following eight nonprofit organizations: Alliance to Develop Power’s Worker Center Collaborative; Center for Community Self-Help; Credit Builders Alliance; Consumer Credit Counseling Service of Delaware Valley; Doorways to Dreams (D2D) fund; Eastside Financial Center; Mountain Association for Community Economic Development; Mission Asset Fund. Nonprofit Development Lab is supported by grants from the Citi Foundation
and the Wal-Mart Foundation.

For more information about Nonprofit Development Lab, please contact Sarah Gordon at sgordon@cfsinnovation.com or visit www.cfsinnovation.com.