Our First Month Together
- Essential Common Future
This post was originally published by Community Credit Lab, which is now part of Common Future.
Dear CCL Community,
As you know, Community Credit Lab was recently acquired by Common Future. As a Black-led, multiracial organization, Common Future’s diverse team of strategists, community organizers, financial activists, and policy enthusiasts provide capital, operational support, and strategic partnership to budding solutions that address racial and economic injustice across the United States. The CCL team is excited to join the team in this work.
Through the acquisition and transition, Community Credit Lab’s borrowers are at the forefront of all we do. The servicing team remains hard at work (and has welcomed another new team member) to ensure back-office loan management and loan deployment for our 11 active Lending Partners is borrower-centered and flexible. We’re proud that our borrowers can call anytime to adjust their payment schedule in order to best support them to achieve their goals.
Through the acquisition and transition, Community Credit Lab’s borrowers are at the forefront of all we do.
At CCL and Common Future, we are dedicated to transparency, collaboration, and learning throughout this process. While the structural components of the acquisition have been finalized, we are currently navigating our way to the best path forward with an integrated team toward the justice we seek. Stay tuned!
In our annual onsite earlier this year, we amended Community Credit Lab’s vision statement to emphasize the need to actualize economic justice. This acquisition heralds that vision. In our one month together, the conversations amongst our unified team with our new colleagues at Common Future have been insightful and inspired — grounded in reality, with actualization as our continual North Star.
This acquisition heralds that vision.
Common Future brings two decades of supporting community wealth-building institutions and relationships with funders, policymakers, and investors that have driven attention and over $280 million to innovative economic models across the country. I invite you to read more on the alignment of our organizations in CCL’s latest Quarterly Investment Report. Unless otherwise stated, all data on CCL’s portfolio and programs are as of the quarter ending, September 30th, 2022.
We are all part of the solution together. Thank you for your dedication and for joining us on this journey as we reimagine a financial system for all.
Managing Director of Community Credit Lab and Common Future Investments