Mission and History

Virginia Community Capital (VCC) is a multi-million dollar non-profit, community development financial institution (CDFI) and banking entity providing innovative loan and investment solutions for affordable housing and economic development projects in the Commonwealth of Virginia. Our mission is to offer innovative, flexible financial products designed to support housing and community development ventures, increase jobs and build sustainable communities. VCC offers loan capital that is broader than bank lending to projects that have a positive community impact in low- to moderate-income communities in underserved geographies and markets.

While originally chartered in 1995, VCC was transformed in the fall of 2005 from a small CDFI doing microlending and IDA programs in 3 counties to a larger CDFI with $17 million in equity capital operating throughout the Commonwealth. By year-end 2007, VCC was a viable, statewide CDFI with a loan portfolio of approximately $10 million with 0% delinquencies. VCC completed 23 community development projects; creating or preserving 623 affordable housing units and creating or preserving 83 living-wage, permanent job opportunities. Additionally, the capital base of the organization grew from $15 million at YE 2005 to $19.1 million at YE 2007. Assets of the organization grew to $28.3 million. As the organization ended 2007, it had also laid the foundation for the opening of a regulated community development bank and began to focus on new strategic directives to guide its growth for the next 3 years.

Our Goals

VCC’s Strategic Plan includes 3 years of growth and continued service to the Commonwealth. The goals and objectives presented in the plan include:

• Leverage the success of the organization and the current capital base to grow assets to $70 million while maintaining fiscally-conservative, sustainable governance policies.
• Create and deliver mission-based products appropriate for both the bank and the CDFI to meet the community development needs of the Commonwealth.
• Create an operating environment where core costs are fully self-supporting and therefore, grant income is utilized entirely to leverage technical assistance and other non-profit activities.
• Create a community development organization known for its responsiveness, technical ability, inclusive culture, and creativity; and is viewed as a leader of innovative community development programs – utilizing both state and private capital partnerships.

Directors and Management

VCC Board of Directors

• Kenneth N. Daniels, Professor of Finance, Virginia Commonwealth University School of Business
• Sandy Fitz-Hugh, Kaufman & Canoles Consulting
• Dixon Hanna, Retired
• James W. Harkness, Jr., Retired, Roanoke, Virginia
• Jane Henderson, President, Virginia Community Capital
• Florence Kingston, Director for Department of Development, City of Newport News
• Charlie H. Mills, III, CEO, Salera Capital Management
• Mary Dwyer Pembroke, Nexgen Capital Partners, Inc.
• Michael Schewel, McGuire Woods LLP
• Bill Shelton, Director, Department of Housing and Community Development
• Al Smuzynski, Retired, Fairfax Station, Virginia

CCB Board of Directors

• Kenneth N. Daniels, Professor of Finance, Virginia Commonwealth University School of Business
• Sandy Fitz-Hugh, Kaufman & Canoles Consulting
• Dixon Hanna, Retired
• James W. Harkness, Jr., Retired, Roanoke, Virginia
• Jane Henderson, President, Virginia Community Capital
• Florence Kingston, Director for Department of Development, City of Newport News
• Charlie H. Mills, III, CEO, Salera Capital Management
• Bill Shelton, Director, Department of Housing and Community Development
• Al Smuzynski, Retired, Fairfax Station, Virginia

Community Advocate Council

• Randy Arno, Weldon Cooper Center for Public Service
• Dave Baldwin, Bristol Redevelopment & Housing Authority
• Todd Christensen, Southwest Virginia Cultural Heritage
• Graham Driver, Virginia Community Development Corp
• Steve Galyean, Virginia Tourism Corp
• Ed Gerardo, Bon Secours Health System
• Michael Hawkins, Virginia Housing Development Authority
• Shea Hollifield, Virginia Dept of Housing & Community Development
• Kevin Kelly, Enterprise Development Group
• Overton McGehee, Habitat for Humanity - VA
• Penny McPherson, Wachovia/Wells Fargo
• Shelley Murphy, Piedmont Housing Alliance
• Nancy O'Brien, Retired
• Delegate James M. Scott, Virginia House of Delegates
• Carolyn Spohrer, Virginia Community Action Partnership
• Kathy Wheeler, Community Business Partnership 

Staff

• Bob Adams, Project Development Advisor
• Neal Barber, Pathfinders
• Randy Burcham, Loan Officer
• Kim Burchette, Human Resources & Office Manager
• Clyde Cornett, Chief Financial Officer
• Dawn DeHart, Senior Loan Officer
• Jane Henderson, President & CEO
• Tammy Johnson, Staff Accountant
• Pat Kietzman, Manager of Administration
• Tim Mattox, Website & Data Manager
• Susan Moore, Loan Processor & Underwriter
• Paul Nolde, Corporate Project Manager
• Caroline Nowery, Program Specialist
• Jennifer Pierce, Advisory Services & Grants Manager
• Jo Lynn Price, Operations/Security Officer
• Shaun Rai, Loan Officer
• Ian Robinson, Program Coordinator
• Bill Skeen, Chief Credit Officer
• Richard Valle, Network Operations Analyst
• Carl Virgin, Senior Accountant
• Teresa Walker, Savings Manager
• Amanda Wenger, Customer Service Representative
• Sarah Williams, Chief Risk Officer
• Beth Wright, Richmond Office Manager
• Terri Wright, Loan Operations Manager

Areas of Service

VCC operates statewide and focuses resources on markets where traditional capital is not flowing.  We currently have two offices - one in Christiansburg and one in Richmond.  Our portfolio includes loans and technical assistance throughout the state click on the map to see our locations of our current customers: