FOR IMMEDIATE RELEASE
Transformational project will expand access to early childhood education, youth development, health services and food resources in a highly distressed Maine community
NEW YORK, NY — JULY 28, 2026 —TruFund Financial Services, through its subsidiary Empowerment Reinvestment Fund, LLC. (ERF), has closed a $7 million New Markets Tax Credit investment to support the Bangor Young Men's Christian Association (YMCA) campus replacement project in Bangor, Maine. The investment is part of a broader $37.5 million NMTC financing package provided by five Community Development Entities.
The project will replace the Bangor YMCA's aging 45,000-square-foot facility with a new 79,984-square-foot multi-service community center designed to address critical community needs and significantly expand access to educational, wellness and health-related services.
Located in a highly distressed census tract where the median family income is just 51.8% of the Area Median Income, the project advances the mission of ERF and its parent organization, TruFund Financial Services, by directing capital to underserved communities and increasing access to opportunities that strengthen economic mobility and quality of life.
“Community facilities like the Bangor YMCA serve as anchors that bring people together and provide access to resources that help families and neighborhoods thrive,” said James H. Bason, President & CEO of TruFund Financial Services. “Through our subsidiary, Empowerment Reinvestment Fund, we are proud to support an investment that will create lasting impacts by expanding access to education, health services and community resources for generations to come.”
The new facility will feature:
- A 104-seat Early Learning Center to increase access to quality early childhood education;
- A dedicated Teen Center and STEAM Makerspace to support youth development and workforce readiness;
- Expanded aquatics, fitness and wellness spaces serving residents of all ages;
- A food pantry and community kitchen designed to address food insecurity and promote healthy living; and
- Dedicated community health space developed in partnership with regional healthcare providers.
“I am so grateful for the hard work, diligence and unwavering commitment that made this transformational project possible for our beloved Bangor Region YMCA,” said Diane Dickerson, CEO of the Bangor Region YMCA. “I cannot even find the words to express how critically important this is to the thousands of people we serve in this region, and for the future generations to come. You all made this happen and it has been an honor to work with all of you. From my heart, I thank you!”
The Bangor YMCA investment reflects ERF's ongoing commitment, as a subsidiary of TruFund Financial Services, to deploying capital in communities where the need is greatest and where catalytic investments can deliver measurable social and economic impact.
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About Empowerment Reinvestment Fund, LLC.
Empowerment Reinvestment Fund LLC (ERF) is the subsidiary of TruFund that is a certified Community Development Entity (CDE) qualified to receive NMTC allocations. TruFund leverages and invests New Markets Tax Credit (NMTC) allocation in projects that encourage economic development in low-moderate-income (LMI) communities.
About TruFund Financial Services, Inc.
Founded in 2005, TruFund Financial Services, Inc. is a national Community Development Financial Institution dedicated to expanding access to capital and business support services for entrepreneurs and communities historically underserved by traditional financial systems. Through innovative financing solutions and strategic partnerships, TruFund advances inclusive economic development and drives long-term community impact.
Since its inception, TruFund has deployed $716.8 million in capital to 3,978 businesses nationwide. This investment has supported 31,706 jobs, representing an average of 44 jobs created or retained for every $1 million in financing, underscoring TruFund’s role as a catalyst for sustainable economic growth.
To learn more about TruFund’s mission, impact, and financing solutions, visit www.trufund.org.
Media Contact
Allison M. Washington
Assistant Vice President | Director of Marketing & Communications
TruFund Financial Services, Inc.
awashington@trufund.org
917.838.5804
