In the United States, Community Development Corporations (CDCs) made their appearance catalyzing
economic growth by investing in job creation, business development, real estate and affordable housing
in target communities. Prior to the 1970s, banks "redlined" against minority neighborhoods, even to
credit-worthy residents. In 1973, ShoreBank founders, Ron Grzywinski, Mary Houghton, James
Fletcher, and Milton Davis, with backgrounds in banking, social service and community activism,