CDFI Fund is ‘impactful, accountable’ investment that reached underserved
The credit union industry is joining together to push back on the White House’s original budget proposal with cuts to eliminate funding for the Treasury’s Community Development Financial Institutions (CDFI) Fund.
America’s Credit Unions, Inclusiv and dozens of other credit union organizations sent a letter to House and Senate appropriations leaders to call for a full $324 million appropriation for FY26, the same as the enacted FY25 amount.
The CDFI Fund’s multiplying power of public and private dollars to reach more people in need makes it an incredibly impactful investment.
“More than 20 million Americans are member-owners of CDFI credit unions and access safe and affordable loans and financial services at more than 3,400 branch locations across the country, where their savings and loan repayments revolve within their communities,” the letter reads. “With rising costs squeezing family budgets, we need more capital not less, going to strengthen local economies, expanding housing and small business opportunities, creating jobs, and building household savings.”
America’s Credit Unions wrote in support of full funding last week for the record of several hearings with Treasury Secretary Scott Bessent testifying on the Treasury’s FY26 budget, and will continue to engage appropriators for full funding as the FY26 budget process continues.
