FMCRC-Assets & Hope Co-Founder, NMCRC
It is with great sorrow that we share the passing of our beloved economic justice leader and a great champion of change. Even though Al's swift transition on May 17, 2022, was unexpected, he has left a blueprint for us all to follow as we continue to be about seeking economic justice for Black and Latino communities!
After a battle with a major illness, Al Piña decided to use his successful Fortune 25 corporate skills, as well as his military service experience, that led to several business and military awards and medals, to give back to community and country.
He began working with minority community organizations around the United States for the past 16 years to including serving in a senior executive role with the largest community development corporation in the United States. Through either his leadership, or his participation in financial institutional CRA commitments, it has resulted in over $700 billion of additional bank commitments for community re-investment into minority communities throughout the United States.
Al Pina started out his community economic development career as V. P. of Development for the National Council of La Raza and a team member that launched the countries first minority focused housing and commercial real estate CDFI. Al Piña went on to serve as Vice President of Development for the country’s largest Community Development Corporation (TELACU-Los Angeles)
In 2005, in partnership with the Greenlining Institute, Al Piña took his efforts to Florida and founded the Florida Minority Community Reinvestment Coalition, which is Florida’s first state wide minority focused community economic development collaboration with over 105 participating minority community organizations. As Chairman of FMCRC, Al Piña utilized this position to advocate for increased community reinvestment for Florida minority communities. He led the negotiating team that was successful in the development of over $120 billion dollars of community reinvestment commitments to Florida’s minority and underserved communities by Regions, Wachovia/Wells Fargo, Bank of America, Chase and Fifth Third Bank.
Seeing the importance of access to capital for minority communities towards reducing the rising racial wealth gap, Al Pina had a focus on access to capital for minority communities throughout the United States. Since 2005, Al Piña assisted in the development and launching of over 16 minority focused community development funds, with over $6 billion dollars of capital. He also was a development team member of two national Hispanic investment funds with a combined investment capital of $310 million. In addition, Al Piña launched and led the efforts for Florida’s first ever minority focused affordable housing fund through a Tampa-based CDFI.
Understanding the importance of job creation in low-moderate income communities to battle poverty, Al Piña launched Florida’s first minority focused job creation event Let’s Do Business Florida. In partnership with over 150 minority organizations and major banks and corporations, Let’s Do Business Florida focuses on job creation through increased construction contracts to minority construction firms and the development of self-sufficient minority nonprofits to allow them to create incremental income streams to fund job creation programs.