The National Federation of Community Development Credit Unionsand Opportunity Finance Network have announced a deal which allowFederation member CUs to join the OFN at reduced rates.

OFN is a network of community development financial institutionsthat was instrumental in developing the U.S. Treasury Department'sCDFI Fund and works to help build capacity in CDFIs.

Cliff Rosenthal, CEO of the National Federation, hailed the groundbreaking agreement as“formalizing and extending the cooperative relationship we haveenjoyed with OFN going back more than two decades,” adding:“Together, we shaped the establishment of the Community DevelopmentFinancial Institutions (CDFI) Fund and we have worked in coalitionsince 1994 to ensure that it advanced the CDFI movement.”

In announcing the agreement at the OFN Annual Conference, MarkPinsky, President and CEO of OFN, remarked that “dual membershipamong our two organizations is part of a coordinated effort tobetter support and represent the CDFI industry altogether. OFN hasproudly called the Federation a friend and partner for more than 20years as we have worked together to build the CDFI sector. Thisagreement rests on our mutual appreciation of and respect for eachother and for the work that our respective members do.” Theagreement commits the two organizations to develop a jointmembership program that provides reciprocal discounts on dues tothose institutions that join both OFN and the Federation.

“We recognize that CDFIs often belong to a number of nationaland regional organizations to meet the range of their needs fortraining, technical information, advocacy, and other services. Thisagreement helps them to manage their costs,” Rosenthal said.