CUNA, organizations request $341M for CDFI Fund in FY24

CUNA joined the Community Development Financial Institutions (CDFI) Coalition and more than 200 other organizations requesting $341 million for the Treasury’s CDFI Fund in FY24.

The letters were sent to leaders of House and Senate Appropriations Committees and Financial Services and General Government Subcommittees.

"We project that an appropriation of $341 million will result in $4 billion in new investment in low-income communities, create or preserve over 34,000 affordable housing units, thousands of loans and investments in childcare centers, health clinics, and community facilities, nearly 700,000 consumer and homeownership loans, and more than 100,000 loans and investments in business in target markets."

President Joe Biden requested the same $341 million in his FY24 budget proposal, the organizations note.