“It’s so hard to say goodbye to yesterday.” Whether you know this song from the 1975 movie Cooley High or the Boyz II Men version in the 90s, the meaning hits home for me now as I turn the page on my almost 30-year career working for Chicago Community Loan Fund. I started out as a Loan Officer in April 1995 and was elevated to President in June 1998. It’s hard to imagine that on January 1, 2025, I will no longer be commuting to the office focused on my daily tasks and full schedule of meetings. Instead, I will embark on a new journey that is still being written, but will certainly entail rest and relaxation, a focus on health and some public policy work to advance the field of community development.

I am often asked, “How did you last so long at CCLF?” The answer is simple. When you absolutely love what you do – I have so much to be proud of – time flies by. I got up early every day with joy in my heart for the mission of CCLF. I have certainly been blessed to have a job where I could fight for social and economic justice and win many battles. I have seen the transformation of many neighborhoods and hold my head high when I see a project that was financed by CCLF standing as a testament to providing access to capital where it has been denied for far too long. These projects offer quality housing for families, help build wealth for developers and demonstrate that investment in neglected neighborhoods lifts more than just that community. We all benefit from the rehabbed facilities, repurposed vacant lots, and new construction that CCLF’s financing and technical assistance supports.

It will be hard to say goodbye to yesterday, but I take comfort in all that has been accomplished by CCLF, the Community Development Financial Institution (CDFI) industry and all of our partners working in tandem to stop redlining, appraisal bias and unfairly extracting assets from people of color. My work on (some would say way too many) boards, committees, panels, associations and task forces introduced me to an army of dedicated advocates for social and economic justice that will continue to choose right over wrong and not give in to those with power working to take advantage of the communities we serve.
I am also tremendously proud of the enumerable awards that I led CCLF to garner, including most recently, two awards from MacKenzie Scott totaling $25 million. CCLF’s growth from $3.9 million, when I took the helm, to $200 million is assets (with $40 million in annual deployment making it one of the largest single metropolitan market CDFIs in the country), reflects the sense of urgency and purpose that I instilled in the organization. Further, I must celebrate CCLF’s emergence from being a very small niche lender in the 1990s to the lender of today specializing in our four core asset classes and adding for-profit, mission-driven borrowers and commercial-retail projects to our mission.

“I thought we’d get to see forever, but forever’s gone away.” Another lyric in the song that can conjure sadness, but I take comfort in it because of the great team at CCLF. I leave at a time where CCLF is in great hands with Bob Tucker taking over as President. Hiring him over nine years ago was one of my best decisions. He is buttressed by the same incredible executive team and staff I had to support me, and a highly engaged Board of Directors. Together, they will continue to scale the work of CCLF and respond to urgent needs for community development throughout Chicagoland.

It has been pure gratification and an immense joy to work for CCLF and I thank the board, staff, investors, funders, partners (including the City of Chicago) and our customers for all they do to improve the quality of life of others. Back to the song lyrics, “I’ll take with me the memories to be my sunshine after the rain. It’s so hard to say goodbye to yesterday.” – Calvin L. Holmes