Community First Fund becomes Finanta

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Community First Fund is now known as Finanta.

The name change comes from the Philadelphia-based Finanta that merged with Community First Fund in 2020.

Daniel Betancourt, president and CEO of Finanta said in Philadelphia the name is well known and carries a legacy of more than 30 years in the Philadelphia region.

He said he expects it will become well known in the other regions it serves as well as it takes a broader-focused regional approach to help with economic development initiatives throughout the region.

Originally headquartered in Lancaster, Finanta’s headquarters is now in Philadelphia, where it has a large customer base.

It still maintains an office in Lancaster and has a total of six regional offices including Allentown and Reading.

“We serve from Harrisburg to Philadelphia including the Lehigh Valley,” Betancourt said.

Not only does the name give the CDFI a more unified umbrella to work under, Betancourt said the name is shorter, simpler and more consumer friendly, which he said is important as Finanta rolls out its plans to serve as a credit union.

It recently opened its first federally charted credit union in Lancaster and is planning to open a credit union in Philadelphia in late 2025 and in Allentown by late 2026.

“It’s so much easier as a consumer brand,” he said.

The change is in name and brand, but not in Finanta’s operations. Betancourt said all staff, senior leadership, and board, product offerings and services and regions of service will remain unchanged.

Its mission, to create financial equity through wealth-building opportunities and support for individuals, families, and business owners, remains at the heart of its efforts.

“The name change to Finanta is a declaration of who we are and what we stand for,” said Betancourt. “We are building on a foundation of economic inclusion and community partnership, bringing forward a name that strongly aligns with our mission and the diverse communities we serve.”

The name change follows what Betancourt described as a historic year for the organization.

Its business and affordable housing lending broke the organization’s record, exceeding $52 million.

Finanta Credit Union grew to over $10 million in assets, supported members with over $2 million in capital, and launched a free financial education program for English and Spanish speakers.

Since 2013, a total of $160 million in New Markets Tax Credits were allocated to the organization, allowing for opportunities to fund impactful, large-scale projects to help revitalize neighborhoods and build local financial equity. Its most recent award was $40 million in 2024.