The Washington Area Community Investment Fund (Wacif) recently announced that Shannan Herbert will be its new CEO.
Her first day will be April 1, the Washington Business Journal reported.
Herbert has held the role of executive vice president of Inclusive Credit at Stratyfy, a woman-owned, mission-focused fintech company, and was the executive vice president and chief credit officer for City First Bank in the District, one of the country’s largest Black-led banks.
“I’ve always admired Wacif’s unwavering commitment to community building — not just in providing loans to create greater opportunity throughout the District, but in deeply investing in the critical supports needed to foster a vibrant community, such as food security and affordable child care,” she said. “Wacif has made a measurable impact on the lives of many and has never been stronger. I am excited to steward it into this new chapter in partnership with the community, our team, our board, and our partners.”
Herbert, who received her bachelor’s in business administration from Howard University and an MBA from Loyola University Maryland, has established a career in the banking, fintech and nonprofit sectors providing capital and capacity building to historically under-resourced communities.
“Shannon’s passion for financial inclusion and removing barriers that prevent the flow of resources in communities of color aligns with Wacif’s mission to promote equity and economic opportunity across the D.C. region,” said Nancy Stark, Wacif board chair. “With her creative approach to leadership, we’re confident Shannan is the right person to expand on Wacif’s success and introduce new strategies to increase access to capital and opportunities for even more entrepreneurs in the region.”
