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.
CUNA opposes an administration-proposed $151 million cut to the Capital Magnet Fund, which CDFI credit unions use to support affordable housing. The cut is part of an administration package of proposed multi billion-dollar spending cuts.
CUNA wrote to House and Senate appropriators Tuesday to push for full funding of the Treasury’s CDFI Fund for fiscal year 2018. CUNA, league and credit union advocacy efforts helped restore funding for FY17.
With President Donald Trump's signature of H.R. 244, the government will be funded through Sept. 30. With the signature comes increased support for the CDFI Fund-a priority for CUNA and credit union stakeholders.
The Louisiana Credit Union League has announced a partnership with CU Strategic Planning that will help credit unions in the state achieve certification as Community Development Financial Institutions.