CHARLESTON, SC—(May 6, 2010) Tammie Hoy, Executive Director of the SC Community Loan Fund (CLF), will be leaving the Trust to take a new position with the Federal Reserve Bank of Richmond’s Community Affairs Office as their Regional Community Development Manager for North and South Carolina.  

Since 2004, Tammie has guided the growth of the Trust, a regional non-profit community development financial institution (CDFI) established to provide financing for the production and preservation of affordable housing, and to encourage and implement polices that reduce unnecessary regulatory barriers to such production. Tammie’s work at the Trust entailed uniting people, funding and expertise to creatively promote and actively stimulate the development of well designed and well built affordably-priced housing locally, regionally and statewide.

“Although I am very excited about my new opportunity, it comes with some sadness to leave my existing role at the Trust. The past six years have been an amazing opportunity for me personally and professionally. As the founding director, I have seen the Trust blossom into an amazing organization that meets a critical need in the community by increasing affordable housing opportunities.  I have been honored to be a part of such an outstanding organization and its growth. I leave the Trust with an amazing staff and a strong Board of Directors whom are committed to its mission and will collectively take the organization to the next level in affordable housing finance.”  Tammie Hoy

Under Tammie’s leadership CLF has become a lead financier for affordable housing in the region investing over $8 million in community development financing in the tri-county including federal stimulus funds helping to create over 550 units of affordable housing.

 “We will miss Tammie, but recognize that she has left CLF with an amazing staff in a strong organizational and financial position.  Through her leadership we have implemented a transition plan, which includes a national search for a new Executive Director.  I can’t say enough about how much Tammie has done for CLF and the mission of providing decent affordable housing in the Tri county area.  We wish her much success and look forward to working with her in her new role.” Tony Woody, Chairman.

Although Tammie will no longer work specifically for the Trust and its target market, her new role will keep her closely tied to community development. As a Regional Community Development Manager with the Bank, Tammie will represent the Community Affairs Office on community development issues by providing education, outreach, policy initiatives and community economic development support for North and South Carolina.