Colleen Schwarz was named vice president of sales for Community Reinvestment Fund, USA (Photo: Community Reinvestment Fund, USA)

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MINNEAPOLIS--(BUSINESS WIRE)--April 12, 2007--Community Reinvestment Fund, USA (CRF), a nonprofit organization that connects community development lenders with the capital resources of Wall Street, today announced it named Colleen Schwarz, vice president of sales.

As a former member of CRF's Board of Trustees, Schwarz brings a wealth of knowledge about the organization's culture and processes to her new position. Schwarz had served as the Board's vice chair and co-chair of CRF's Loan Review Advisory Committee.

"Colleen is an experienced sales leader who is already immersed in our mission and culture, making her a solid match for this position," said Frank Altman, president and chief executive officer for CRF. "We are fortunate to attract a vice president of sales who can quickly bring tighter focus to our sales goals and strategies, enabling us to generate even greater community impact while balancing our mission with the need to attract capital."

In addition to her work on CRF's Board of Trustees, Schwarz brings more than 25 years of experience in commerical finance sales and marketing to her new position. Most recently, Schwarz was senior vice president and vice president of business development for GMAC Commercial Holding Capital Corp. In this role, Schwarz was responsible for cultivating relationships with key state housing agencies and local housing authorities, which resulted in significant investment banking income for GMAC.

Prior to her work with GMAC, Schwarz spent 17 years with the Colorado Housing and Finance Authority, most recently serving as deputy executive director of production and lending programs and director of home finance.

"I am very pleased to have the opportunity to help an important organization like CRF achieve its sales goals," said Schwarz. "CRF's unique model of bringing private capital to community development lenders helps maximize the community impact of each dollar, and I look forward to expanding upon CRF's success."

Schwarz, who holds a bachelor of science degree in management as well as a master's degree in business administration, will continue to reside in Colorado with her husband and two adult children.

About CRF

Community Reinvestment Fund, USA (CRF), a Minneapolis-based nonprofit organization, is the nation's leader in bringing capital to public and private, nonprofit community development lenders through the secondary market for loans. Formed in 1988, CRF has injected hundreds of millions of dollars into low-income and economically disadvantaged communities around the country to help stimulate job creation and economic development, provide affordable housing, and support community facilities. http://www.crfusa.com

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Copyright Business Wire 2007

Community Reinvestment Fund

Community Reinvestment Fund

Community Reinvestment Fund, USA (CRF) is the national leader in bringing capital to community-development lenders through the secondary market for loans. Started in 1988, CRF has injected hundreds of millions of dollars into low-income and economically disadvantaged communities across the country to help stimulate job creation and economic development, provide affordable housing and construct community facilities. CRF is a nonprofit organization, headquartered in Minneapolis, MN. It is supported primarily by its own revenue-generating activities, including loan purchasing, loan servicing and training and technical assistance. CRF gets further support from foundations, corporations and individuals that want to use their social-purpose investments in a way that maximizes their effectiveness. These dollars help CRF continue to expand its activities. CRF is not affiliated with any governmental agency.

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