Established in 1999, AAFE Community Development Fund (AAFE CDF) is a Department of Treasury-certified Community Development Financial Institution that serves potential and existing homeowners in the five boroughs of New York City and has been a certified NYSERDA lender since 2009. AAFE CDF seeks to increase affordable homeownership opportunities for low- and moderate-income families, immigrants, and the underserved in all five boroughs of New York City by providing homeownership assistance, providing pre- and post-purchase counseling services, and offering counseling as well as loan products originated in-house.
Having begun its mission in the Manhattan neighborhood of Chinatown, AAFE CDF has since expanded with the opening of branch offices in Flushing, Queens in 2004, and Sunset Park, Brooklyn in 2010. These offices play a crucial role in AAFE CDF’s efforts in reaching out to the over 1 million Asian Americans living within New York City.
Furthermore, AAFE CDF is a subsidiary of Asian Americans for Equality, Inc. – an organization with over 37 years of history advancing the rights of and advocating for New York City’s Asian and immigrant populations.