WASHINGTON—The Defense Credit Union Council is throwing its support behind the Senate Appropriations Committee’s proposal to provide $324 million for the CDFI Fund, calling the investment a significant boost for credit unions serving military and veteran communities.
“The Senate Appropriations Committee’s proposal is not just good budgeting, it is smart national policy,” said DCUC Chief Advocacy Officer Jason Stverak. “DCUC applauds this investment as it directly strengthens the ability of credit unions, especially those serving our military and veteran communities, to deliver affordable capital, expand financial inclusion, and support the economic resilience of the communities we serve.”
DCUC pointed out CDFI-certified credit unions have long been on the front lines of community development. They provide safe, responsible lending options, help families build credit, support small business growth, and offer life-changing financial counseling; services that are especially vital for service members, veterans, and families navigating frequent relocations, deployments, and economic uncertainty.
According to DCUC, this increased funding would empower credit unions to:
- Expand small-dollar and emergency loan programs that keep military families out of predatory traps
- Invest in affordable housing initiatives near military installations where demand continues to outpace supply
- Grow entrepreneurship programs for veteran-owned small businesses
- Deploy more capital into underserved rural and urban defense communities often overlooked by traditional lenders
“At a time when military families continue to face rising costs, frequent PCS moves, and persistent predatory lending threats, strengthening the CDFI Fund is a direct investment in their financial readiness and overall well-being,” started Stverak.
DCUC added that it strongly urges Congress to maintain this funding level as the appropriations process moves forward.
“The return on investment is unmistakable: stronger communities, stronger families, and a stronger nation,” DCUC said.