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October 18, 2012

Founder of New Hampshire Community Loan Fund Wins Responsible Finance Award
    by Robert Kropp

Juliana Eades, President and founding Executive Director of the New Hampshire Community Loan Fund, receives the fifth annual Ned Gramlich Award for Responsible Finance from Opportunity Finance Network. -- The founding Executive Director of the New Hampshire Community Loan Fund, established in 1983 and one of the first community development financial institutions (CDFIs) in the US, received the Ned Gramlich Award for Responsible Finance at this year's annual conference of Opportunity Finance Network (OFN), a national network of CDFIs.

Juliana Eades received the award for her leadership of the Community Loan Fund, which has loaned more than $150 million to individuals, organizations, and employers in New Hampshire. In 2009, the Community Loan Fund received a Wells Fargo NEXT Awards for Opportunity Finance. The CDFI received a $5 million low-cost loan and a $500,000 unrestricted grant for its expansion of a financing program for manufactured housing mortgage loans.

Mark Pinsky, President and CEO of OFN, said, "Juliana Eades is a leader in the CDFI industry. As the founding executive director for the New Hampshire Community Loan Fund, Julie has creatively and relentlessly found ways to serve disadvantaged communities through responsible lending. She sets a high standard of performance and mission for all future industry leaders and CDFIs."

"The Gramlich award is a humbling honor, and one that reflects the achievements and successes of a lot of people," Eades said. "Those who use our loans to seize opportunity, those who express their community values by investing their savings with us, the donors who support the education that comes with our loans, and a board and staff that constantly do more, better and smarter."

Established in 2007, the Gramlich award is named for the late Edward Gramlich, who served as a Federal Reserve Board Governor from 1997 to 2005. Gramlich was also a board member of OFN.

When the award was established in Gramlich's honor, Federal Reserve Chairman Ben Bernanke said, "Ned was a strong advocate for those who live outside the financial mainstream and worked tirelessly to promote policies and programs that expand economic opportunities for families and communities."

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