This is not an offer to sell our securities to you and we are not soliciting you to buy our securities. We will offer and sell our securities only in the states where authorized. The offering of our securities is made solely by our Offering Circular. The purchase of our securities is subject to terms, conditions and risks, which are described in our Offering Circular. CDF securities are not F.D.I.C. or S.I.P.C. insured nor are they bank deposits.