FIs to receive full funding for community development fund
FOR IMMEDIATE RELEASE
CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; firstname.lastname@example.org
Washington, DC (June 19, 2018) – Financial institutions expected to receive full funding for the Treasury's Community Development Financial Institutions (CDFI) Fund, which is used for grants and awards to foster growth, achieve sustainability and revitalize communities. The Senate Appropriations subcommittee on financial services and general government (FSGG) passed its fiscal year 2019 bill today.
Credit Union National Association (CUNA) has been a longtime supporter of fully funding the CDFI fund and actively advocated to secure full funding for last year's appropriations negotiations.
“We thank the Senate financial services and general government subcommittee for moving their legislation along with full funding for the Treasury’s CDFI Fund,” said CUNA President/CEO Jim Nussle. “Certified CDFIs, including credit unions, are able to turn the awards and grants from the fund to leverage significant amounts of private and non-federal dollars in support of vital community investments. CUNA will continue our advocacy to ensure these important funds remain available."
The House Appropriations Committee approved $216 million for the CDFI Fund last week and the Senate Appropriations Committee is expected to markup the FSGG bill on Thursday.
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.