CUNA wrote to the House Appropriations Subcommittee on Financial Services and General Government to express concern that the administration’s budget request does not include adequate funding for the Community Development Financial Institutions Fund or the Community Development Revolving Loan Fund.
CUNA continued its push for increased CDF) funding due to COVID-19 this week, joining more than 100 organizations from around the country in sending a letter to Congressional leadership and appropriators.
CUNA joined dozens of organizations Friday in calling on Congressional leadership to appropriate $1 billion to the Treasury’s CDFI Fund. The fund provides grants, equity investments and other awards to certified CDFIs around the country.
The Treasury’s CDFI Fund is being used to grow local economies and serve communities in need, CUNA wrote to the House Appropriations subcommittee on financial services and general government. There are 285 certified CDFI credit unions.
Federally insured, low-income credit unions that want to become certified Community Development Financial Institutions can apply to use the NCUA’s qualification process for streamlined CDFI certification from Jan. 13 through Feb. 9.