PODCAST: Paying it forward
Budget proposal seeks to eliminate the CDFI Fund, which empowers economically distressed communities.
As an immigrant from Chile whose family benefited from credit unions, Pablo DeFilippi believes his life’s work with the industry is his way of “paying it forward.”
“Giving back should be a big part of everyone’s lifestyle,” DeFilippi, vice president of membership and business development for the National Federation of Community Development Credit Unions, tells the CUNA News Podcast.
“If you get an opportunity, you don't want to keep that opportunity to yourself. You want to make it available to others,” he adds. “It's like a snowball. Good deeds should lead to other good deeds from other people.”
Prior to his work with the Federation, DeFilippi served as CEO of a small credit union in New York City—the same credit union his father joined after moving to the U.S. That made an impact on DeFilippi, who advances the Federation's mission to help low- and moderate-income people and communities achieve financial independence through credit unions.
One way in which the Federation tackles this mission is by encouraging credit unions to access the Community Development Financial Institutions Fund, a U.S. Treasury program that aims to empower economically distressed communities.
President Trump’s recent budget proposal seeks to eliminate the CDFI Fund. DeFilippi discusses why he thinks the fund shouldn't be eliminated.
Credit union professionals and members wishing to express their support for the CDFI Fund can use CUNA's Grassroots Action Center to contact their congressional representatives.