WASHINGTON--Advocacy efforts are ramping up to showcase the CDFI Fund’s far-reaching positive impact following the Treasury Department’s announcement of a planned reduction in force, America's Credit Unions noted.
Copper Basin Federal Credit Union and its work to invest in the community as a CDFI-designated credit union is featured in America’s Credit Unions latest blog post. It’s one of nearly 500 CDFI-certified credit unions are serving 19 million Americans through more than 2,800 branches across the country.
“The CDFI Fund has allowed us to live out our mission more fully by reaching members who might otherwise be excluded from traditional financial services,” Copper Basin Federal Credit Union President/CEO Jessica Grostic said. “It’s helped us expand affordable loan programs, provide financial coaching, and support community initiatives that strengthen local families. Through these efforts, we’re not just serving our community, we’re helping it thrive.”
"Lawmakers need to know how profoundly the CDFI Fund affects communities in their states. Copper Basin Federal Credit Union’s efforts and other stories from CDFI credit unions is one way to illustrate that impact," ACU stated.
ACU said the blog highlights a key fact: CDFI Fund dollars work harder than most, with every federal dollar awarded to CDFI credit unions drawing in more than $12 of private capital, powering everything from new storefronts to renovated homes to revitalized main streets.
"For communities like those served by Copper Basin Federal Credit Union, that funding translates into life-changing opportunities," the trade association said.
Working together with leagues and Inclusiv, ACU said it deployed a targeted outreach effort urging lawmakers to sign on to a bicameral letter reaffirming the value of the fund. As CUToday.info reported, Senate Finance Committee Chairman Sen. Mike Crapo (R-ID) and Rep. Young Kim (R-CA) spearheaded the letter, sending it directly to Treasury Secretary Scott Bessent and Office of Management and Budget Director Russell Vought with over 100 Republican lawmaker signees last week.