Appalachian Community Capital Names Daniel Wallace as President and CEO of Green Bank for Rural America

CHRISTIANSBURG, VA, UNITED STATES, November 14, 2024 /EINPresswire.com/ -- Appalachian Community Capital (ACC) proudly announces Daniel Wallace as the new Chief Executive Officer to lead the Green Bank for Rural America (Green Bank). ACC started the Green Bank to provide public and private capital that enables rural areas to gain the most benefit from the new energy economy. Beginning with a $500 million award, the Green Bank is set to drive new and renewed economic opportunity in Appalachia and communities across rural America.

Daniel joins ACC from Coastal Enterprises, Inc. (CEI), where he served as Chief Investment Officer, spearheading the creation of new financing products designed to expand access to capital for low-income communities and build wealth for entrepreneurs underserved by traditional financial institutions. Under his leadership, CEI’s loan and investment portfolio reached a record-breaking $78 million.

“We are thrilled to welcome Daniel as the first President & CEO of the Green Bank for Rural America,” said ACC President & CEO Donna Gambrell. “His extensive background in development finance and commitment to creating accessible pathways to community prosperity align perfectly with the ACC’s vision for the Green Bank for Rural America.”

The Green Bank for Rural America will leverage private capital to finance an anticipated $1.6 billion into approximately 2,000 diversified energy projects, helping to create 13,000 jobs, reduce pollution by 850,000 tons annually, and secure a more prosperous future for rural communities. Priority areas include all of Appalachia, energy communities, rural communities of color and Native communities, with an emphasis on local partnerships to ensure sustainable impact.

"Joining Appalachian Community Capital to lead the Green Bank for Rural America is an incredible honor and responsibility," Wallace said. "Rural communities have long powered the country through their skills and natural resources, and now is the time to build on that legacy in ways that bring about increased opportunity and lasting prosperity. I am committed to bringing together capital, expertise, and partnerships that will empower communities across Appalachia and rural America to succeed in the new energy economy."

Daniel’s community-driven approach is informed by breadth of experience that has touched on sectors such as agriculture, commercial real estate and downtown revitalization, affordable housing, small business and entrepreneurial growth, arts and culture, and others.

"Daniel’s deep commitment to expanding access to capital in communities where residents face persistent and intergenerational poverty makes him exceptionally well-suited for this role," said President and Chief Executive Officer of Grow America Daniel Marsh, a member of the Green Bank for Rural America's Steering Committee. "He understands the unique challenges these communities face and brings a clear vision for how targeted investments and local partnerships can create real pathways to economic resilience. His leadership is precisely what’s needed to drive meaningful, lasting change across rural America."

About the Green Bank for Rural America

Appalachian Community Capital is starting the Green Bank for Rural America to help rural areas gain the most benefit from the new energy economy. Rural energy communities in Appalachia and across the country have been the heart of energy production in America, powering the growth of our nation. The Green Bank aims to build upon and revitalize this spirit, working alongside communities to build resilient local economies and to create new opportunities for a prosperous future. The Green Bank will make investments– beginning with a $500 million award from the U.S. Environmental Protection Agency – to connect rural communities to new sources of financing. The EPA award will help attract even more private capital, for an estimated $1.6 billion into 2,000 diversified energy projects. This means 13,000 good jobs and a way to preserve the quality of life in rural communities, where local businesses and community leaders work together to control their future. For more information, visit https://greenbankforruralamerica.org/.

About Appalachian Community Capital

Appalachian Community Capital is a CDFI lending intermediary created to raise capital for its over 40 member CDFIs and other mission-based lenders. The members, in turn, use ACC's capital to fund small businesses in underserved areas in Appalachia, including businesses owned by women and persons of color. The members - many of whom have been in operation for more than 20 years - and their affiliates manage over $2 billion in assets supporting economic development in Appalachia. For more information, visit https://appalachiancommunitycapitalcdfi.org/.

Osayamen Bartholomew
The Gift Agency, LLC
+1 917-892-1654
osa@thegiftagency.com