Opportunity Resource Fund Names Byna Elliott as New CEO, Christine Coady Narayanan to Retire After 35 Years

May 27, 2025

Opportunity Resource Fund, a community-based financial institution that has invested over $300 million to support underserved Michiganders, marks its 40th anniversary with a significant leadership transition. Christine Coady Narayanan, who built and led the organization for more than 35 years with a focus on economic justice and financial inclusion, is stepping down as CEO. Byna Elliott, a Detroit native with over 25 years of experience in the financial industry, will take over effective June 23, 2025, continuing OppFund's mission of providing capital to those excluded from traditional lending systems.

Who is affected

Michigan residents, particularly Black and Brown communities who have historically been denied access to traditional financial services
Homebuyers locked out of traditional mortgage lending
Black entrepreneurs denied business capital by mainstream banks
Residents of divested neighborhoods across Michigan
Community organizations working on neighborhood revitalization
Families facing housing insecurity
Small business owners lacking collateral

What action is being taken

Opportunity Resource Fund is transitioning leadership from Christine Coady Narayanan to Byna Elliott
OppFund is celebrating its 40th anniversary of community lending work
The organization continues providing housing loans, business capital, and neighborhood development funding
OppFund maintains its mission of deploying capital to underserved communities as a tool for economic justice
The organization is preparing for a new chapter under Elliott's leadership while maintaining its core commitment to serving those excluded from traditional financial systems

Why it matters

OppFund has leveraged over $300 million to support people denied by traditional lenders
The organization represents a necessary alternative in a financial landscape where Black borrowers still face higher denial rates
It addresses persistent racial wealth gaps and housing affordability crises in Michigan
The leadership transition maintains Black women's leadership in an organization serving primarily Black and Brown communities
OppFund's work directly combats the ongoing effects of historical redlining
The organization provides critical financial services that enable homeownership, business development, and neighborhood revitalization

What's next

Byna Elliott will officially begin her tenure as CEO on June 23, 2025
OppFund's 40th anniversary will serve as a platform to galvanize its future direction
The organization plans to deepen its reach under Elliott's leadership, with strategies anchored in data and rooted in community needs
OppFund will continue providing fair, flexible capital to vulnerable communities across Michigan

Read full article from source: Michigan Chronicle