Michael Ciaccia

A certified public accountant, Michael Ciaccia joined Community Investment Corporation (CIC) in 2018. CIC is a 50-year-old non-profit lender, known as a Community Development Financial Institution (CDFI), which focuses on financing the preservation of affordable rental housing in historically disinvested neighborhoods in Chicago. Mike oversees CIC’s long-term financial planning, reporting, and compliance with various financial and programmatic requirements, as well as coordinating loan note sales to investors through a unique Note Purchase Agreement, which ensures liquidity in order to support CIC’s lending activity, and helps bank participants meet their Community Reinvestment Act obligations. He led the most recent 5-year capital raise for the Note Purchase Agreement, which closed in 2025 with $320 million in commitments from 38 banks. Mike has also spearheaded a number of IT, operational and process improvements for CIC in addition to his CFO responsibilities. Mike took on the CFO role after 22 years at the Northern Trust Company. At Northern, he most recently served as the VP of Community Development and Investments, as well as the treasurer and financial officer of the Trust’s Community Development Corporation (CDC). He managed the bank’s more than $800 million of investments in CDFIs, affordable housing projects, and other community development initiatives.