Founded in 2008 by ten Congregations of Religious Women, RCIF is a not for profit organization that enables Catholic congregations to use their financial resources as a ministry to assist in overcoming social and environmental inequalities. Congregations pool their assets to support the mission of promoting an economy of solidarity and reflecting the Gospel values of economic justice, compassion, human dignity, and environmental stewardship. RCIF makes investments in low-income communities that benefit the economically poor, especially women and children, concentrating on those who are unserved or poorly served through traditional financial sources.
Some of the groups RCIF has supported include:
- The Disability Opportunity Fund (United States) – provides financial services and advisory support to address the gap in housing and related services for people with disabilities
- Mercy Community Capital (United States) – lends to Mercy Housing to provide below-market rate loans for socially responsible affordable housing for working poor, elderly, farm workers, formerly homeless and those with special needs. Mercy manages over 5,000 affordable rental units for seniors who have a median average income of $12,683 a year. Mercy has supported affordable housing in all Cabrini footprint states – Washington, Illinois, Colorado, New York, Pennsylvania, Louisiana, and California.
Photo Credit: Mercy Housing