WASHINGTON—CUNA has written to House leadership in support of a bill that contains funding for the Treasury’s Community Development Financial Institutions (CDFI) Fund and NCUA’s Community Development Revolving Loan Fund (CDRLF).
The letter is in response to the not so economically named Defense, Commerce, Justice, Science, Energy and Water Development, Financial Services and General Government, Homeland Security, Labor, Health and Human Services, Education, Transportation, Housing, and Urban Development Appropriations Act for Fiscal Year 2021.
“Earlier this month, CUNA wrote to the members of the House Appropriations Subcommittee on Financial Services and General Government. In that letter, I urged them to appropriate $300 million and $2 million, respectively, for these two important funds in FY 2021,” wrote CUNA President/CEO Jim Nussle. “I was pleased that the Committee-passed bill included $273.5 million for the CDFI Fund, an increase of $11.5 million over fiscal year 2020. In addition, the Committee bill includes $2 million for the Community Development Revolving Loan Fund.”
Nussle also thanked Speaker of the House Nancy Pelosi (D-CA) and House Majority Leader Kevin McCarthy (R-CA) for including the emergency appropriation of $1 billion for the CDFI Fund in the House-passed HEROES Act.