Community Vision is an active member of the Opportunity Finance Network (OFN), the national network of community development financial institutions (CDFIs) investing in opportunities that benefit low-income, low-wealth, and other disadvantaged communities across America. Based in Philadelphia and active throughout the country, OFN represents the interests of 200 of the most effective and mission-centered CDFIs in this growing industry, which includes thousands of community loan funds like Community Vision, community development credit unions and other sources of financing for community needs.
Like Community Vision, OFN Members finance affordable housing, community services, and local businesses, sparking job growth in the areas that need it most, and delivering both sound financial returns and real changes for people and communities. Profitable but not profit maximizing, CDFIs have a proven track record of making an impact in those areas of America that need it most.
Since the industry’s inception over 30 years ago, OFN members have originated more than $30 billion in financing in urban, rural, and Native communities, including 83,000 businesses, 940,000 housing units, and 9,000 community facility projects. Their cumulative net charge-off rates of less than 1.7% convincingly demonstrates CDFIs’ ability to lend prudently and productively in unconventional markets often overlooked by conventional financial institutions.
OFN’s annual conference is a must-attend event, bringing together well over 1,000 community finance practitioners, investors, funders, and experts for three days of in-depth sessions, policy forums, and information-sharing that foster the innovation and collaborative partnerships that are an essential part of the field. This year, the conference will be held in Philadelphia on October 15th-18th, 2013, and will feature over 50 sessions across thirteen tracks. Community Vision staffers Lea Salem, Dan McDonald, Sherry Simmons and Mary Rogier will attend; Sherry and Mary will both participate on panel presentations. For more information and to register for the conference, go to www.opportunityfinance.net .
Community Vision President Mary Rogier currently serves as Vice-Chair of the 15-member national Board of Directors of OFN. Mary was elected by the national OFN membership for her second of two three-year terms in 2011.