House Passes ‘Minibus’ with CDFI, CDRLF Funding
FOR IMMEDIATE RELEASE
July 20, 2022
The House passed its “minibus” appropriations bill Wednesday that includes the Financial Services and General Government bill with several credit union priorities.
“This funding will help to combat the lingering effects of the COVID-19 emergency on the ability of small businesses and individuals to access credit and basic financial services,” wrote CUNA President/CEO Jim Nussle in support of the bill.
The bill contains:
- $336 million for the CDFI Fund, which makes capital grants, equity investments and awards for technical assistance to certified CDFIs.
- $4 million for the CDRLF, which funds a revolving loan program and a technical assistance program.
CUNA wrote to House leadership prior to the vote supporting appropriate funding levels for the Treasury’s Community Development Financial Institutions (CDFI) Fund and NCUA’s Community Development Revolving Loan Fund (CDRLF).
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 130 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. To find your nearest credit union, visit YourMoneyFurther.com.