Task force discusses CDFIs’ role in meeting veterans’ needs

Credit unions were on hand as the Small Business Administration (SBA) and Treasury Department provided insights into future goals for the Community Development Financial Institutions (CDFI) Fund Tuesday.  America’s Credit Unions’ regulatory advocacy team monitored the first meeting of the agency’s Interagency Task Force on Veterans Small Business Development under the new administration.

According to officials on the call, the Treasury is looking to incentivize the CDFI fund to support manufacturing, childcare, and expanded access to credit.

Treasury officials also emphasized CDFIs’ role in financial literacy, highlighting programs across each agency, as financial literacy is a major part of Treasury Secretary Scott Bessent’s agenda. 
Staff also indicated that Bessent is focused on deregulation within the community banking space (but there was no specific mention of credit unions).

America’s Credit Unions supports full funding for the CDFI Fund in FY2026, strongly supports bipartisan legislation that would exempt loans made to veteran-owned businesses from the member business lending cap, and advocates for additional ways to serve military members, families, and communities.