Kersy Azocar (left), President and CEO of Greenline Access Capital, introduces Kristen Heisey, President of Everence Federal Credit Union, to members of the Philadelphia community. (Photo courtesy of Palaeli Studio)
In 2023, Everence® launched a community investment partnership with Greenline Access Capital to help finance under-resourced entrepreneurs in Philadelphia.
Greenline Access Capital is a 501(c)(3) mission-driven financial institution that helps microbusinesses achieve financial wealth and resiliency. The organization is led by President and Chief Executive Officer Kersy Azocar, who has over 18 years of experience in the financial industry and has led successful local community development initiatives.
Through the partnership, Greenline Access Capital helps businesses apply for a loan and walks them through the qualification process. Everence Community Investments provides the capital while Everence Federal Credit Union underwrites and administers the loan.
This partnership is a piece of a larger plan for Everence to work with other local organizations to invest in neighborhoods of Philadelphia that have seen disinvestment from the government and other institutions over the years.
In Kensington, one of Philadelphia’s most under-resourced neighborhoods, redlining was a key contributor to its decline. Redlining was an unjust practice that began in the 1930s in which individuals were denied financial services due to their race, ethnicity and residency in certain neighborhoods. Greenline Access Capital’s name alludes to the vision to “greenline Philadelphia” in response to those historic practices.
Greenline Access Capital is an emerging Community Development Financial Institution, which brings together private and public sector investors to promote economic revitalization and community development in low-income communities. As they grow, CDFIs continue to support community transformation.
In 2021, Everence opened a credit union branch in a building sharing space with Esperanza Health Center. In building strong partnerships with institutions, Everence is embarking in its essential work of aligning our faith and values with our business.
“If you want to engage with a historically underserved community or a redlined community, you can’t do it alone,” said Leonard Dow, President of Everence Community Investments and Vice President of Community and Church Development.
