A Banking Relationship Built for Community Impact
Annie Donovan President & CEO RDFBefore an investor makes an investment, they start with a belief. They believe in a mission, a vision. And because Western Alliance believes in us, we in turn can express our belief in our clients by extending them the capital they need to thrive.
Tony Lopez, Chief Financial Officer for RDF, recalls a time when the mission-driven lender found itself down to the wire – literally.
It was the end of the day. A very large transaction was closing, but the wire payment hadn’t gone through. Lopez picked up the phone and placed a call to his relationship banker at Western Alliance Bank. Thirty minutes later, the wire cleared, and the transaction closed as planned.
“Western Alliance allows us to deliver capital when our communities are counting on it, and that’s what RDF is all about. Every wire, every draw, every investment helps us support our communities,” says Lopez. “To us, that’s real relationship banking. Having the option to reach out to a relationship manager who really understands RDF and really helps us move the funds quickly so that we can close transactions.”
RDF has been transforming communities for more than 25 years, measuring success by the impact created in communities, schools, health centers, affordable housing developments, and small businesses. RDF is a Community Development Financial Institution (CDFI), a type of lender that focuses on historically underserved communities, a segment that has historically faced barriers to accessing affordable and flexible financing. Certified by the U.S. Department of the Treasury, CDFIs bridge the gap, providing financing for small businesses, affordable housing projects, community facilities such as schools, health clinics, and child care centers, and down payment assistance programs.
Like Western Alliance, RDF is a leader in its industry, headquartered in Phoenix with a presence across the United States. Speed, responsiveness, a true understanding of what the business needs, and a commitment to community are among the reasons RDF consistently chooses Western Alliance as its longstanding banking partner.
"RDF has grown robustly over the 26 years of our existence, and Western Alliance has grown along with us,” says Annie Donovan, RDF President and CEO. “That's really important because we need more flexible services as we've grown; we need access to greater amounts of capital. We need a bank that is more sophisticated as we grow, and Western Alliance is that bank."
Western Alliance has served as RDF’s primary banking partner since 2015, providing a full suite of banking services that includes depository accounts, cash management, lines of credit, and equity equivalent investments. Western Alliance Bank’s nimble execution and local decision-making provides quick access to low-cost capital that RDF can then deploy in communities across the country.
"The foundation of our relationship is trust. We know we can rely on Western Alliance,” Donovan adds. “It means a lot to be able to pick up the phone and make a call and get another human being on the other end of the line that you know, who knows you, who can anticipate what your needs are."
This steady, responsive partnership through economic cycles and growing demand helps RDF achieve its purpose as a CDFI and grow its investments so that every dollar earned is another dollar that can be invested in the community.
"Western Alliance consistently brings flexibility, responsiveness, and creative problem-solving to our relationship, which allows RDF to focus on serving communities," says Donovan.