Research by ACCORD has found that Community Development Financial Institutions (CDFIs) are emerging worldwide in response to community finance and enterprise needs that are not being served by conventional financial institutions.

A draft report on the research findings was well received at a seminar hosted by ACCORD in Sydney on 10 December. ACCORD Research Fellow, Kathryn Parker said that "Australia lacks the supportive regulatory and tax regimes that have fostered the growth of CDFIs elsewhere."

A panel including some of Australia's most experienced social policy makers, social entrepreneurs, community enterprise developers, and financial managers outlined examples of community capital raising in their own areas, emphasising the need for a more concerted effort in Australia to establish CDFIs.

The panel, chaired by Mark Lyons, Professor of Social Economy at UTS and Co-director of ACCORD, included: Dr Tony Morris, Mission Australia; Duncan Power, Charities Aid Foundation Australia; Elizabeth Cham, Philanthropy Australia; Richard de Simone, Foresters ANA Friendly Society and ANA Ethical Superannuation Fund; Vern Hughes, Social Entrepreneurs Network; Steve Lawrence, Work Ventures Australia; Paul Fitzgerald, Grow and Ted Smeaton, Benevolent Society. The final report is due for release early next year.