Coalition calls for timely deployment of congressionally appropriated FY25 CDFI funding

Concerns with the Trump Administration’s intent to withhold more than $200 million that was Congressionally appropriated for the CDFI Fund for fiscal year 2025 are outlined in a joint letter sent to the Senate and Treasury Department. 
America’s Credit Unions joined Inclusiv on the letter, along with 203 industry stakeholders, including credit unions.  

“We urge you to work with the Treasury Department to ensure the CDFI Fund obligates and deploys all Congressionally appropriated FY 25 CDFI funding in advance of September 30, 2025,” the letter wrote. “Deploying the FY 25 CDFI award funding will support CDFIs in scaling their critical work to expand affordable homeownership, strengthen small businesses, and create economic opportunity in low-income communities across the nation.” 

The letter explained that CDFI credit unions excel in “finding and filling financing gaps” where mainstream financial institutions are unable or unwilling to step in. 

“With rising costs squeezing family budgets, we need more capital, not less going to strengthen local economies, expand housing and small business opportunities, and create jobs,” concluded the letter.