Treasurer Stacy Garrity Announces Appointment to Operations Committee of the Pennsylvania Community Development Bank
Harrisburg, PA - Treasurer Stacy Garrity announced today that she has appointed Aaron Cohen as the Treasury designee to the Operational Committee of the Pennsylvania Economic Development Financing Authority (PEDFA) which administers the Pennsylvania Community Development Bank (PCD Bank).
PCD Bank, created in 1998, provides loans to community development financial institutions (CDFIs) for projects that support job creation. It also provides grants to nonprofit organizations seeking certification or accreditation as a CDFI.
“Aaron’s dedication to helping businesses and organizations thrive makes him an ideal candidate to represent Treasury on the PCD Bank board. PCD Bank works to make sure CDFIs are an effective tool to promote job growth, and Aaron is committed to helping the board continue to improve transparency and accountability while advancing that important goal.”
Pennsylvania State Treasurer, Stacy Garrity
“Certified CDFIs are one of the most effective ways to get critical resources to businesses, as they play a critical role in helping small enterprises in underserved communities. PEDFA provides critical backing to the CDFI network through financing assistance, ultimately helping to reach Pennsylvania’s small and diverse businesses most in need of support. I’m looking forward to serving on behalf of Treasurer Garrity to bring more attention to PCD Bank and helping CDFIs serve small enterprises in underserved communities.”
Cohen is the president and founder of Arena Strategies LLC, a firm that provides assistance with government affairs, business development and strategic planning solutions for organizations ranging from Fortune 100 companies to small non-profits. Prior to founding Arena Strategies, Cohen served in leadership roles with Franklin Quest and the Project Management Institute, among others. Cohen has served on the Salvation Army Advisory Board of Greater Philadelphia since 2012 (Chair 2015 to 2018), and also serves on the Board of Directors of the Greater Philadelphia Chamber of Commerce, and on the Clubhouse Services and Public Affairs Committees of the Union League of Philadelphia.
PCD Bank, administered by PEDFA through an operational committee of the Board, helps CDFIs improve services and increase lending activities through grant funding and liquidity financing.