Ericka Warmack for OFN Board of Directors

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Believe in Ericka Warmack for OFN Board of Directors!

Meet Ericka Warmack

Ericka Warmack, FCF Director of National Lending | Your Choice for OFN Board of Directors

Ericka's deep love for children and her belief in the powerful intersection of quality child care and economic opportunity fuels her work as director of FCF's Community Development Financial Institution (CDFI). Investing in the next generation starts with supporting those who nurture and teach them. Providing equitable access to capital – especially in underserved communities – leads to equitable access to quality child care for all children. Through FCF’s CDFI, Ericka and the Loan Fund team provide low-interest loans, technical assistance, and business consulting exclusively to child care entrepreneurs, empowering them to start, improve, or expand their operations – driving the economic engine of their communities.

Ericka’s previous roles include Chief Financial Officer, VP of Transformation, Interim VP of Corporate and MBE Services, and VP of Events at the Michigan Minority Supplier Development Council.

She holds a B.S. in Accounting from DePaul University in Chicago, Illinois, and is a (Registered) Certified Public Accountant (CPA).

Ericka enjoys nature, studies natural health and wellness, and listens to uplifting music. She spends quality time with her family in Michigan, where she resides, and in Illinois, where she was born and raised.

What is First Children’s Finance?

More than you would Believe...

Since 1991, First Children’s Finance (FCF) has been a national leader in building sustainable child care businesses. FCF has state offices in Minnesota, Iowa, Michigan, Vermont, and Oregon, and its National teams provide consulting, training, and analysis services across the United States.

FCF is a CDFI with a 30+ year track record of lending exclusively to child care businesses of all types, sizes, and stages. We work with private, nonprofit, and family child care centers from startups through expansion. We partner with dozens of lenders and pair our financial and technical expertise.

Addressing the Issues that Matter Most to You! Overcoming the Challenges Facing the

CDFI Industry

Effective Leadership

As Director of FCF’s CDFI, Ericka addresses the loan capital supply-demand gap for low-to-moderate-income, BIPOC, and woman-owned small businesses through an enhanced loan pool management and loan application process.

Pairing term loans with available grants to fund clients’ projects to offer a lower blended interest rate.

Enlisting industry experts to avoid regulatory and compliance pitfalls.

Impactful Innovation & Tech

Ericka led her team through the implementation of new and innovative loan application software featuring secure document upload and automated filtering capacities.

Reducing documentation for specific loan products and adjusting loan limits for time-sensitive loan products.

Authentic Partnerships

Partners with other CDFIs to manage risks while fully funding client projects. Ericka addresses rising lending costs by cultivating relationships with investors that offer lower-cost capital to clients serving low-income families and underserved communities often denied business loans.

Overcoming Regulatory and Compliance Hurdles

FCF proactively addresses regulatory and compliance issues with a dedicated team integrating data collection into our processes.

Our updated customer relationship management system helps effectively track the latest impact data requirements.

Believe In...

Nurturing the Next Generation, Growing Your Bottom Line

Investing in early childhood education yields significant long-term benefits. Children who receive high-quality care show better educational, social, and health outcomes, creating a more skilled workforce that fosters innovation.

The child care industry is also an economic powerhouse, generating hundreds of thousands of jobs and contributing billions to the GDP. However, with a median hourly wage of only $12.88, many child care workers face high turnover and stress, which can affect the quality of care.

Child Care: Empowering, Businesses, Strengthening Economics

The U.S. economy loses an estimated $122 billion annually due to child care challenges. Businesses lose about $1,640 per working parent each year because of insufficient child care, totaling around $23 billion.

Investing in Childhood, Securing the Future

Investing in children is one of the best decisions policymakers and corporations can make, yielding approximately $8.60 in economic activity for every dollar spent on early care and education.