This year’s Opportunity Finance Network (OFN) Conference, OFN41: Opportunity Next, brought together leaders, changemakers, and visionaries committed to bolstering and expanding capital access through the power of community development financial institutions (CDFIs). As we have done for 40 years, representatives from CDFIs, banks, foundations, and other partner organizations gathered to exchange ideas and identify new pathways to advance our collective mission.
The timing of this year’s conference, however, was unique. We convened in Washington, D.C. – blocks from Capitol Hill – just weeks after the government shut down and a subsequent Reduction in Force notice was given to all CDFI Fund employees at the U.S. Department of Treasury.
While there was some anxiety and disappointment, the prevailing feelings among the 2,100+ attendees were optimism and determination. The threat of a shuttered CDFI Fund, which would mean discontinued federal funding and an uncertain future for federal CDFI certification, seemed to fuel a persistent enthusiasm and roll-up-your-sleeves mentality as conference workshops and hallway brainstorms filled the days. Eager hands shot up during panel discussions, business card supply ran low, and strategic conversations spilled into early morning coffee meetups and evenings in the hotel lounge.
During morning plenaries led by OFN executives and other industry leaders, the call to action was to be hopeful and focused. Their message was clear: In this moment, investing energy and resources in our work is not just a moral imperative, it’s a smart, sustainable economic strategy, and we cannot stop here.
Here are the top insights from this year’s conference:
1. Investing in CDFIs Is Good Business
CDFIs deliver strong financial returns while driving economic growth for all Americans. Because we are embedded in rural and urban places across the country, we are a proven vehicle for expanding access to capital, fueling job growth, and strengthening local and regional economies.
CDFIs have earned a permanent place in the financial ecosystem; our work is vital to generating prosperity in every corner of the country. That’s why the CDFI Fund has secured bipartisan support since the beginning, even in this moment of uncertainty.
2. CDFIs Make Banks Better
By partnering with CDFIs, banks can better serve their communities. These collaborations are financially sustainable and help institutions meet regulatory and social impact goals through programs like the Community Reinvestment Act (CRA).
Multiple leaders from national banks took the stage to call attention to track records of strong, high-impact CDFI partnerships, and they all reiterated their commitments to continuing – and in some cases, doubling down on – their investments in CDFIs.
3. With Uncertainty Comes Opportunity
A conference undercurrent was that economic and social uncertainty can be a catalyst for innovation. CDFIs are uniquely positioned to respond with agility and purpose in this moment if we are courageous and creative. We must continue to create the tools and partnerships that push us out of our comfort zones and meet the unique, rapidly changing needs of the communities we serve.
Whether it’s exploring new resources like credit enhancements, building statewide coalitions, or engaging new philanthropic and corporate funders, adaptation is key to maintaining and expanding our impact.
4. Focus on the ‘Why’
Harold Pettigrew, President and Chief Executive Officer of OFN, reminded us: “For our industry to endure, we must focus on our ‘why.'” Our mission has held true for decades: We must ensure everyone has a fair shot at a healthy, prosperous life. By leaning into and amplifying our purpose, we can make clear the value that CDFIs bring to communities across the country.
Pettigrew quoted Friedrich Nietzsche when he said, “He who has a why to live can bear almost any how.”
5. Advocacy is About Nurturing Relationships
Despite the shutdown, OFN held its annual “Day on the Hill,” which brought CDFI leaders to congressional offices to educate, tell stories of impact, and request support for the CDFI Fund. We divided and conquered, showing up on both sides of the aisle, powered by the belief that every changed heart or mind was a major win. Our advocacy was successful; the next day, 103 Republican members of Congress signed a bicameral letter of support for CDFIs. Leaning into our impact is how we build support for our industry, generate greater investment in our programs, and turn decision-makers into advocates.
Final Thoughts:
The OFN Conference was more than a gathering; it was a reaffirmation of purpose. Throughout the week, we were reminded that CDFIs carry a profound responsibility to serve the nation by ensuring opportunity exists for all. In this work, leading with hope is critical, but hope alone isn’t enough. When paired with bold action powered by partnerships and investment, optimism becomes a powerful force for change.
Now is the time for CDFIs to act with positive, confident purpose, fueled by a long, proven history of delivering on the American promise. We are engines of resilience and progress, and we are ready to lead, prepared to build, and set to shape a future where opportunity truly exists for all.
“The way to predict the future we want is to create it ourselves.” – Harold Pettigrew, President and CEO of OFN