CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » Congress passes omnibus spending bill with CUNA, CU priorities
Policy & Issues

Congress passes omnibus spending bill with CUNA, CU priorities

March 22, 2018

Congress passed the fiscal year 2018 omnibus bill Thursday, and President Donald Trump is expected to sign the bill Friday to avoid a government shutdown. The bill, released Wednesday, contains many wins for credit unions. CUNA's detailed analysis is available here. 

CUNA again won a battle in the bill to keep the NCUA out of the appropriations process. CUNA scored a significant win last year when a provision that would have placed NCUA under appropriations was removed on the House floor by an amendment from Reps. Mark Amodei (R-Nev.) and Pete Aguilar (D-Calif.).

The bill also includes funding for two key credit union priorities, the Treasury’s Community Development Financial Institutions (CDFI) Fund and NCUA’s Community Development Revolving Loan Fund (CDRLF).

Both funds were zeroed out in President Donald Trump’s budget request for fiscal year 2018.

The omnibus bill funds the CDFI Fund at $250 million, a $2 million increase from last year. The CDRLF receives $2 million, the same as last year. 

The legislation also:

  • Maintains and expands loan limits in the Small Business Administration’s 7(a) and 504 loan programs, at $29 billion and $7.5 billion respectively. These programs allow for partially guaranteed government loans that are partially exempt from the statutory credit union member business lending cap;
     
  • Makes $12 million available for the Cooperative Development Program, a five-year competitive grant program that responds to the needs of local, host country cooperatives.

Credit Union Magazine - Winter 2019

Winter 2019

Alternative lending, compliance management systems, and ideas for boosting credit card portfolios are among the topics of Credit Union Magazine’s Winter 2019 edition.
App •  Digital Edition •  Subscribe

Trending

  • CFPB proposes to raise remittance threshold to 500 transfers

  • Compliance: Using alternative data in underwriting

  • Concerns over credit union-bank mergers, CRA ‘inaccurate, misinformed’

Tweets by CUNA_News

Polls

What's the pace of staff turnover at your CU?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors