Partners for the Common Good (PCG) stands in solidarity with Black communities in ending systemic racism and police violence. We strongly believe that Black lives absolutely do matter. PCG stands with those who are outraged by the systemic racism plaguing our country. We stand with those exercising their right to protest and catalyze change. PCG unequivocally condemns violence against Black communities. We affirm our historic commitment to combat racial injustice.
We extend our deepest condolences to the families of George Floyd, Breonna Taylor, Ahmaud Arbery, and all other Black Americans whose lives were prematurely ended as a result of racially motivated violence and police brutality.
As a national Community Development Financial Institution (CDFI) - whose industry was born out of the Civil Rights movement - PCG is focused on serving and building wealth for communities left out of the economic mainstream. Now, more than ever, we recommit to use our resources to fight for equity for Black and other communities of color.
PCG’s mission is to “advance economic justice and opportunity for low-income people and communities by partnering with other mission-driven financial institutions to bring more capital to the communities that need it most.” This mission is based on a core value that all people deserve to be treated with dignity.
The “common good” in our name was derived from the historic text, Mater et Magistra, and is described as, “to provide employment for as many workers as possible…To make accessible the goods and services for a better life to as many persons as possible…to ensure that the advantages of a more humane way of existence not merely subserve the present generation, but have regard for future generations as well.” As a society, we are interconnected. Racism in any context inevitably negatively affects all aspects of society. The progress of a society cannot occur in the absence of justice or in the presence of widespread anger, fear, and violence.
PCG’s purpose is to fight for economic equality and the dignity of all. Yet, we know that we can always do more. We are committed to learning, challenging ourselves to do better, and being accountable. We commit to challenge ourselves – and our CDFI industry colleagues – to do more to support Black and other minority communities. We call for action within the community development finance industry to address the unchecked racism that has threatened our collective common good for centuries.
We are fully aware of the history of racism that has been imbedded in the financial industry. As brought to light in recent years through media and technology, we are also aware of the racist history between law enforcement and minority communities. Today, every objective data point illustrates that low- to moderate-income communities and minorities are more likely to suffer from police brutality and over-policing than others. The work of economic and social justice is essential to the ability of each individual and community to prosper. Action must occur at the system level.
Today, we publicly reject the idea of being color-blind. We commit to being actively anti-racist. We will intentionally and diligently continue to support Black and other minority communities through our services, products, and policies. As a national participation lending CDFI loan fund with 40% minority representation on our staff, we pledge the following:
- To increase our partnerships with minority-led organizations.
- To continue to support and ensure our work benefits Black and brown individuals and communities, while being intentional about building lasting wealth within these communities.
- To deliberately uphold diversity, equity, and inclusion within our organization.
- To listen to people of color as we support development in communities across the country, and to take diverse perspectives into account in our decision-making.
We hope and pray that our commitment to racial justice and equality in the community development industry will help empower communities of color and inspire others to stand in solidarity. Join us as we step up to be bold about change!