CDFIs v2.0: The Vision of a New Generation
CDFIs v2.0: The Vision of a New Generation was created to harness the ideas and energy of young, emerging leaders in the community development finance industry to better serve low-income and low-wealth communities.
With the support of Rabobank and the Federal Reserve Bank of San Francisco, in October 2010, OFN convened 26 young leaders in San Francisco to discuss their vision for the next CDFI era. Participants represented CDFIs in all geographies across the country and also represented CDFI partners such as banks, foundations, and government entities.
During the meeting in San Francisco, the young leaders brainstormed ideas they considered to be critical components of their vision for the future. The top five recommendations that emerged from these discussions were included in a vision document entitled CDFIs v2.0: The Vision of a New Generation which was published in January 2012. The five recommendations are:
Strategically recruit new talent
Increase opportunities for training and advancement
Improve social impact measurement and collection
Collaborate and innovate to use resources more efficiently
Diversify capital sources and improve transparency
These ideas are meant to act as a starting point for discussion within CDFIs, CDFI partner organizations, and within the industry as a whole. In particular, OFN hopes that this document will stimulate conversation about fostering the next generation of leaders in the community development finance sector.
In addition to the vision document, the program participants also developed leadership skills and built invaluable relationships with other young leaders in the industry.
Continuing CDFIs v2.0: How to join the conversation
We encourage continued dialogue around these and other ideas for developing the next generation of leaders in the community development finance industry. To add your voice to the discussion, please join us on LinkedIn.