The Community Investment Fund of Indiana has elected Carol Gassen (pictured) and Sharron Liggins to its board of directors. Gassen is vice president, chief compliance and CRA officer at Merchants Bank of Indiana, based in Carmel. Liggins is executive director for the Continuum of Care Network in Gary. They were elected to a two-year term covering 2018-2019.
CIFI loans funds to Indiana’s smallest businesses — many minority-owned, newer businesses or in rural areas — that may not qualify for conventional financing or need additional funding to support growth. Created with support from Indiana Housing and Community Development Authority, It is funded by Community Development Financial Institutions Fund, Indiana banks, other business organizations and grants.
Existing, CIFI Board members include:
• Matt Murphy, CFO, Strada Education Network, Indianapolis (CIFI Board President)
• Todd Flick, senior VP, Fifth Third Bank Indianapolis (CIFI Board Treasurer)
• Kristin Pruitt, executive VP, Lake City Bank, Warsaw (CIFI Board Secretary)
• Larry Gautsche, executive director, LaCasa, Inc., Goshen
• Charles Kennedy, executive VP, Cambridge Capital Management Corp., Indianapolis
• Carrie Kosac, vice president, 1st Source Bank, South Bend
• David Reingold, dean, College of Liberal Arts, Purdue University, West Lafayette
• J. Jacob Sipe, executive director, Indiana Housing and Community Development Authority, Indianapolis