House FSGG subcommittee advances bill with $276.6M for CDFI Fund, $3.4M for CDRLF

The House Appropriations Subcommittee on Financial Services and General Government advanced its FY26 bill with credit union-supported funding included, clearing it for consideration by the full House Appropriations Committee. America’s Credit Unions pushed for funding the Treasury’s Community Development Financial Institutions (CDFI) Fund and NCUA’s Community Development Revolving Loan Fund (CDRLF), which were both zeroed out in the White House’s budget proposal.

The CDFI Fund provides grant awards to support affordable housing, homeownership, small business growth, sustainable job creation, and consumer financial security through public-private partnerships. The subcommittee funds it at $276.6 million for FY26.

The CDRLF is administered by the NCUA and provides revolving loan and technical assistance grant programs to low-income credit unions. The subcommittee funds it at $3.4 million for FY26.

In a letter sent in advance of the markup, America’s Credit Unions called for Congress to appropriate funds at their FY25 levels of $324 million for the CDFI Fund and $4 million for the CDRLF. It will continue to advocate for the FY25 amounts for FY26 as the appropriations process continues.

The bill also contains credit union-supported language to prohibit the Federal Reserve from issuing a central bank digital currency.