Community Reinvestment Fund’s Largest Security Offering Ever Minneapolis-based Community Reinvestment Fund USA (CRF) reports that its largest ever issue equaling $62 million has been fully subscribed, showing investor interest in community development products. Community development funds are stepping in to fill the void left as more traditional leaders are limiting their small business lending. CRF bundles community-based lenders into security offerings for capital markets. This is the 19th note in CRF’s series and consists of 153 loans from 37 community development lenders in 35 states. $47 million of the $62 million offering received an AAA rating from Standard & Poor’s. The offering was placed through the securities firm Piper Jaffray & Company.