#United States #Washington #Economic Growth #CDFI #Opportunity Finance Network

Opportunity Finance Network's Impact Report: A Look at CDFI Growth

On August 5, 2025, the Opportunity Finance Network (OFN) unveiled its 2023–2024 Impact Report titled Made by History. Made for This Moment. This impactful document illuminates the evolution and key milestones achieved by community development financial institutions (CDFIs) throughout a transformative period in the sector.

CDFIs: Leaders in Economic Development

According to Harold Pettigrew, President and CEO of OFN, the organization aspires to ensure that every community across the United States can flourish through robust community finance investments. The report serves as a testament to OFN's significant leadership role and the vital work conducted by over 475 member CDFIs, which aim to cultivate opportunities for underrepresented populations. Amid ongoing economic challenges, the role of CDFIs has been underscored as these institutions act as financial first responders, dedicated to fostering economic opportunities for all.

In total, CDFIs within the OFN network have mobilized an impressive $124 billion in cumulative financing, resulting in the creation or preservation of approximately 3.4 million jobs and support for over 1 million small businesses.

Key Highlights from the Report

The report provides several noteworthy accomplishments:

• - $254 million in loans and grants have been deployed via OFN's Financing Fund since 2020, driving local investments through small and emerging CDFIs.
• - The issuance of $173 million through the federal Bond Guarantee Program in 2024 marked the largest bond in OFN’s history.
• - OFN facilitated over 210 meetings with policymakers on Capitol Hill, aiming to influence policies favorable to CDFIs, enabling them to scale their impact.
• - Engagement with over 41,000 professionals through various OFN programs and events, including a sold-out 40th Annual Conference and the inaugural Research Symposium.
• - Investment initiatives such as the CDFI Innovation Initiative and Career Meets Purpose program have bolstered skills and capacities within the CDFI workforce.

As a prominent CDFI intermediary, OFN is focused on mobilizing essential capital and supporting capacity-building efforts. The organization develops policies aimed at strengthening CDFIs nationwide, empowering communities, and expanding economic prospects for those historically marginalized by traditional finance sources.

Celebrating 40 Years of Impact

The current Impact Report reflects not only the performance and progress of CDFIs but also commemorates OFN's 40-year journey in driving change within the community development finance sector. The document lays out foundations for future growth, emphasizing pillars such as opportunity creation, innovation, and nationwide impact.

The full impact report is accessible at ofn.org/impact for those interested in exploring the detailed achievements and future goals outlined by OFN and its partners.

A Call for Continued Support

For over four decades, OFN and its members have catalyzed substantial economic transformations, standing as valued partners to public, private, and philanthropic sectors. Through collective efforts, they continue to address the financing needs of communities traditionally overlooked, reinforcing the vital role of CDFIs in achieving comprehensive financial and economic well-being.

In summary, the 2023-2024 Impact Report by Opportunity Finance Network showcases significant advancements made in the CDFI sector and underscores their importance as key players in fostering economic empowerment across America.