#United States #Washington, D.C. #Opportunity Finance Network #National Summit #CDFI Policy

Opportunity Finance Network Unveils its First National Policy Summit

The Opportunity Finance Network (OFN) recently hosted its inaugural National Policy Summit in Washington, D.C., a significant event that united over 150 leaders from various sectors to discuss and influence Community Development Financial Institutions (CDFIs) policies vital for community enhancement.

This sold-out summit underscores the imperative for sustaining momentum in CDFI policy development, reflecting urgent needs for innovative solutions that bolster public-private investments, stimulate job creation, and expand affordable housing options. As OFN's President and CEO, Harold Pettigrew emphasized, "The diverse nature of our network empowers us to rally leaders across sectors to meet the current challenges effectively."

A Collaborative Gathering

The National Policy Summit kicked off with congressional visits on Wednesday, where members engaged with lawmakers across party lines, emphasizing the bipartisan support essential for CDFIs. This critical dialogue revolved around increasing investment in local economies, promoting job growth, and enhancing the accessibility of affordable housing. Participants included policymakers, CDFI practitioners, and various stakeholders crucial to the community development finance ecosystem.

Dafina Williams, OFN's Chief Public Policy Officer, articulated the momentous opportunity the summit represented for CDFIs: "The future of CDFI policy is being molded at this very moment, and we are dedicated to amplifying our sector's voice in systematic and innovative manners."

Agenda Highlights

On Thursday, the summit's agenda included insightful panels, discussions, and training sessions aimed at uplifting the CDFI sector's voice. These sessions were strategically designed for leaders to gain federal insights, foster engagement, and create strategic dialogues that will shape the CDFI policy landscape beyond 2026.

The previous year proved significant, with OFN achieving notable milestones such as securing $324 million in consistent funding for the CDFI Fund and $41 million for the SBA Microloan Technical Assistance program. Additionally, the organization witnessed an unprecedented 45% allocation of New Markets Tax Credits to CDFIs, a reflection of growing bipartisan endorsement within Congress.

Navigating Challenges

However, these achievements emerged amidst increasing challenges. The rapidly evolving policy landscape poses distinct hurdles for CDFIs, thus amplifying the summit's significance. As the industry finds itself at a crossroads, the urgency of these discussions becomes apparent.

The OFN National Policy Summit not only demonstrates the organization’s commitment to community development finance but also reflects a collaborative drive for practical, bipartisan solutions. By convening leaders from diverse backgrounds, OFN aims to strengthen public-private partnerships, ensuring that CDFIs can deliver widespread impact effectively.

About Opportunity Finance Network

OFN serves as the leading network dedicated to community development investments, managing over $1 billion in assets and comprising more than 490 CDFIs. This network focuses on providing financial services to underserved communities across the U.S., ensuring those left out by traditional finance have access to essential resources. For over four decades, OFN has been a trusted partner for investment in community transformation, emphasizing equity and opportunity for all.