WASHINGTON--Treasury Secretary Scott Bessent will testify before the Senate Finance Committee on the agency’s FY27 budget Wednesday, and America’s Credit Unions wrote for the hearing’s record on several credit union priorities.
Scott Bessent
In addition to urging the committee to continue to protect the credit union tax status, America’s Credit Unions:
- Urged Congress to ensure the Trump Account program preserves families' ability to hold these accounts at the financial institution of their choice, including credit unions
- Called for full FY27 funding of $324 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund, a grant program that allows CDFI credit unions to maximize impact of federal dollars
- Supported $4 million in FY27 for NCUA’s Community Development Revolving Loan Fund
The letter also reiterates America’s Credit Unions’ opposition to the General Services Administration’s (GSA) proposed changes to financial assistance certifications in the System for Award Management. The changes could negatively impact communities served by CDFI credit unions and through CDRLF grants.