Jump to Content
ABA: The American Bankers Association
Skip Section Navigation

Woodforest CEI-Boulos Opportunity Fund

Woodforest National Bank - The Woodlands, Texas

2020 Community Commitment Awards Submission

  • Entry Category: Community & Economic Development
  • Asset Size: Medium

The Woodforest CEI-Boulos Opportunity Fund is a unique partnership demonstrating the potential to achieve community impact in Opportunity Zone (OZ) investing by creating good jobs, preserving affordable housing, revitalizing disinvested areas, & boosting more broadly shared prosperity. The million Fund teams up a privately held, employee-owned national bank (Woodforest); Costal Enterprise Inc. (CEI), a renowned Community Development Finance Institution (CDFI); & The Boulos Company, a commercial real estate firm, to make commercial real estate investments in projects within low-income OZs across Woodforest's 17-states. The Fund makes investments that adhere to the Community Reinvestment Act (CRA) while benefiting low-income people & communities. To ensure impact is achieved, the Fund appointed a Social Impact Advisory Board of leading voices from the field of US community development. The Fund adapted the Opportunity Zone Impact Reporting framework to operationalize the impact criteria into sourcing, due diligence, & ongoing reporting of investments. The Fund practices intentionality to ensure all investments foster community engagement & promote transparency & social equity.Video Highlights: Examples of investments included in Fund portfolio: