Virginia Community Capital CEO to retire in 2021
Jane Henderson announces her retirement after
a 40-year career
After four decades in the banking industry, Jane Henderson plans to retire this year as President and CEO of Virginia Community Capital (VCC). As the organization’s founding executive director, Henderson has led VCC since its inception in 2006. Her banking career includes 29 years spent in community development finance.
VCC, a community development financial institution (CDFI), was born out of a $15 million investment and a vision for an institution that served Virginia’s most under-resourced communities. Community development lending, which finances and supports community revitalization and economic development projects, was still a somewhat novel concept shortly before VCC got its start. Many believed it could not be both impactful and sustainable, but the U.S. Department of the Treasury’s creation of the CDFI Fund in 1994 changed minds. As time passed, community development leaders grew the idea into a proven business model.
“In my experience, when innovative, compassionate people focus on blending capital from different sources to create positive impacts instead of only profits, neighborhoods and economies can change and grow,” Henderson said. “Disinvested communities experiencing blight and poverty have newfound access to homeownership opportunities and economic prosperity.”
Henderson feels the time is right for this transition. VCC is financially strong, the board of directors is experienced and talented, and processes and culture have been institutionalized over the company’s 15-year lifespan. A solid foundation and the spirit of innovation has enabled VCC to grow its family of brands and support communities across the nation in creative and meaningful ways.
VCC has continuously met demand for new community development tools and programs under Henderson’s leadership. In just the last two years, the organization has launched a handful of pioneering initiatives, including the national Community Investment Guarantee Pool (CIGP), a first-of-its-kind financing tool providing a central depository of philanthropic guarantees. CIGP operates within VCC subsidiary, LOCUS Impact Investing. VCC also recently revived the Capital Region Small Business Development Center (SBDC), which provides education, consulting, and economic research to support small business owners throughout the Richmond area. The Capital Region SBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration and supported by local government economic development departments.
“VCC is a strong institution positioned to help more people, impact more communities, and guide more organizations into the world of impact investing. Expansion and new leadership will continue to drive more impact into our most under-resourced communities – our mission since opening in 2006,” Henderson said.
VCC has retained recruiting firm Phillips Oppenheim to begin a nationwide search for its new leader immediately. After an anticipated four- to-six-month recruiting process, Henderson will remain available to VCC’s new CEO to ensure a smooth transition. She looks forward to her retirement and time to enjoy her husband, family, and horses.
About Virginia Community Capital
Virginia Community Capital (VCC) is a $275 million Community Development Financial Institution (CDFI) with a mission to create jobs, energize places, and promote an enhanced quality of life in our communities. With offices in Christiansburg, Norfolk, and Richmond, we offer innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. VCC’s subsidiary bank, VCC Bank, is an FDIC-insured, certified bank offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. VCC is also a certified B Corp.
Learn more: www.vacommunitycapital.org
About LOCUS Impact Investing
LOCUS Impact Investing (LOCUS) is a wholly-owned subsidiary of Virginia Community Capital (VCC). As a nonprofit consulting firm and a registered investment advisor, LOCUS sees a role for place-focused institutions to lead communities across the country in achieving a more prosperous and vibrant future and is committed to helping make that happen. VCC launched LOCUS in May 2017 to help place-focused institutions harness the CDFI’s understanding of local markets and unleash their capital for community betterment. LOCUS provides an array of services to clients – from strategic consulting to deal sourcing and underwriting to back-office asset servicing.
Learn more: www.locusimpactinvesting.org