WASHINGTON (6/12/14)--An appropriations bill containing allocations for the U.S. Treasury Department's Community Development Financial Institutions (CDFI) Fund and the National Credit Union Administration’s (NCUA) Community Development Revolving Loan Fund (CDRLF) moved a step forward Thursday.
Allocations of $233,523,000 for CDFI Fund and $2 million for CDRLF were part of the fiscal 2016 spending bill approved in a House Appropriations subcommittee on financial services and general government Thursday.
Community development credit unions and credit unions serving low-income members often receive grants for financial and technical assistance from these funds to assist their low-income members.
The House Financial Services and General Government Appropriations Bill was approved on a voice vote. The bill now moves to the full House Appropriations Committee.