Earn SOFR-based returns while funding affordable homeownership for Pennsylvania's workforce. The Community Workforce Fund is the only floating-rate CDFI note in the market.
Community Workforce Fund delivers SOFR-linked returns through second-mortgage financing for first-time homebuyers in Berks County, Pennsylvania — backed by 45 years of NHS Greater Berks lending history.
Only CDFI note in the market with SOFR-based yield. As rates rise, your return rises with them. No fixed-rate ceiling.
Every dollar funds a second mortgage on a $200K–$350K home. Secured by real estate. Not a pool — actual loans to actual families.
100% affordable homeownership. 100% Berks County. You know exactly what your capital is doing and where.
Qualifies for Community Reinvestment Act credit — ideal for community-minded investors and bank compliance portfolios.
Choose your maturity horizon. All classes tied to SOFR (currently 3.65%) with fixed spreads above. Highest yield in the PA CDFI market for comparable investment minimums.
| Share Class | Maturity | Current Yield | Rate Structure | Minimum |
|---|---|---|---|---|
| Class A | 5 Years | 4.15% | SOFR + 0.50% | $25,000 |
| Class B | 7 Years | 4.40% | SOFR + 0.75% | $25,000 |
| Class C | 10 Years | 4.65% | SOFR + 1.00% | $25,000 |
* Current yields based on SOFR at 3.65% as of Q2 2026. Rates adjust quarterly. Past performance not indicative of future results. See PPM for full terms.
Competitive benchmark: Community First Fund (Lancaster PA) caps at 4.25% fixed on a 15-year lock requiring $25K+. CWF Class C outperforms at every maturity — and floats up as SOFR rises.
We don't aggregate impact into portfolio statistics. Your investment is attributed to specific families. At CWF, every $50,000 deployed funds approximately 3 families into homeownership.
Community Workforce Fund is operated in partnership with NHS of Greater Berks — one of Pennsylvania's most established housing nonprofits with a 45-year track record of responsible lending and community development in Berks County.
CWF is led by a team with deep roots in Pennsylvania housing finance, CDFI management, and community development.
Stephen brings extensive experience in community development finance and affordable housing in the Greater Berks region. He leads CWF's capital formation strategy, investor relations, and the employer-focused "Live Where You Work" model — a first-of-its-kind approach linking workforce housing to employer benefit programs. Under his leadership, CWF has deployed $3.2M+ and housed 47 families while building toward the $50M Keystone Prospera Fund.
Community Workforce Fund ($5M) is the proof-of-concept vehicle. Keystone Prospera Fund ($50M) is the institutional-grade successor — now in PNC Bank compliance review with Stevens & Lee on legal documentation.
$5M, Regulation D 506(c). Active, funded. Accredited individuals and community investors. Current vehicle for investment.
$50M institutional vehicle. PNC Bank compliance review in progress. Fulton, Univest, Tompkins, Customers, M&T Bank target partners.
Early investors in CWF establish the track record that anchors KPF. Your capital today is foundational to the institutional vehicle tomorrow.
Request the Private Placement Memorandum (PPM) and our team will follow up within one business day.
Partner with Community Workforce Fund to extend your community development reach. Direct your program-related investments toward measurable, local affordable homeownership outcomes in Pennsylvania.
CWF is not a broad community development fund — it is singular in purpose: affordable homeownership for Pennsylvania's workforce families. If that's in your mission statement, there's no closer alignment available.
100% of capital funds second mortgages for first-time homebuyers. Zero allocation to other asset classes or markets.
Local, place-based capital — not a national fund with PA as an afterthought. Your investment stays in the community you serve.
We report specific family outcomes tied to your investment — not portfolio averages. Real accountability for your grantmakers.
Co-invest alongside NHS of Greater Berks — a 45-year-old housing nonprofit with established community trust and lending infrastructure.
Foundations and nonprofits need measurable outcomes for grant reporting and mission verification. CWF produces the specific data your grantmakers require.
For grant reporting: CWF provides: family count by investment tranche, income level data, geographic concentration map, loan performance reports, and NHS servicer certification — everything your program officer needs.
Whether you deploy program-related investments, make grants, or want to co-originate in your geography, CWF has a structure that fits.
Invest at SOFR-linked rates through Class A, B, or C notes. Earns below-market return while fulfilling PRI criteria. Qualifies for 5% payout test credit.
Subordinate grant capital to deepen the fund's affordable layer. Creates leverage for additional NHS first-mortgage origination in underserved Berks County neighborhoods.
Refer families from your programs to NHS/CWF for homeownership. Co-market the "Live Where You Work" employer model to your nonprofit employer partners.
CWF operates as the Community Seconds layer — the third-position financing that closes the affordability gap for workforce families who can't cover a down payment.
Foundation capital placed in the CWF note (Layer 3) directly enables families who could not otherwise access homeownership.
Your investment is not going to a startup CDFI — it partners with NHS of Greater Berks, a 45-year institution with established underwriting, servicer relationships, and community trust that no new fund can replicate.
Share your name and email and our team will reach out to explore a partnership structure that fits your mission and investment policy.
The "Live Where You Work" model gives your employees a path to zero-out-of-pocket homeownership — while delivering $65–76K in 10-year retention value per employee. $100K employer investment. Measurable ROI from day one.
For hourly workers, housing instability is the #1 reason they leave. They don't quit for better pay — they quit because they can't afford to live near work. Turnover costs your organization $15,000 per employee. You can stop it.
Recruiting, onboarding, training, and lost productivity. Every hourly employee who leaves costs you $15,000 minimum — often more in healthcare, manufacturing, and education.
Your best employees live 45+ minutes away because they can't afford to buy near work. Housing costs are your retention problem — not compensation.
401(k) matches and gym memberships don't address housing insecurity. The next competitive advantage is helping employees become homeowners — near work.
Three layers of capital combine to give your employee zero-out-of-pocket homeownership. You fund the middle layer — and earn it back in retention value many times over.
You don't build a housing program. You make one investment into CWF, set the grant parameters for your employees, and NHS/CWF handles everything else — underwriting, closing, servicing.
Your company invests $100K into the Community Workforce Fund. You earn a SOFR-based return on your capital while it's deployed for employee homeownership.
Designate up to $20K per employee as "Live Where You Work" grants. Tax-deductible business expense. NHS verifies eligibility and administers distribution.
NHS originates the first mortgage. CWF funds the Community Seconds layer. Your employee closes with essentially zero out of pocket.
Homeowners stay. Your $15K turnover cost vanishes. The 10-year ROI per employee is $65K–$76K. Capital returns as loans are repaid.
Housing instability drives turnover. Turnover is expensive. When your $100K investment prevents five turnovers over ten years, the ROI is 300%+. Here's the model.
* Illustrative model. Actual results vary by employer size, industry, and local housing market conditions. Consult your tax advisor regarding deductibility.
No major employer in Berks County is offering homeownership assistance as a structured benefit — yet. The companies that pilot this program in 2026 will have a measurable hiring and retention edge before competitors catch up.
From first conversation to employee closing, the typical timeline is 60–90 days. The legal structure is straightforward. Your HR team needs to do almost nothing.
30-minute call with Stephen Gieringer. Review the term sheet and grant structure. Confirm CWF eligibility for your employee demographics.
Execute subscription agreement. Designate 3–5 employee participants. Stevens & Lee documents the employer grant structure. NHS pre-qualifies employees.
Employees select homes from NHS-approved inventory. Three-layer capital stack closes. First employee becomes a homeowner. ROI begins accruing immediately.
Tell us your name and organization. Stephen Gieringer will reach out within one business day for a 30-minute discovery call — no commitment required.