ARLINGTON–Sen. Chuck Schumer (D-NY) told credit unions he will continue to fight for additional funds to help the country recover from the coronavirus pandemic.
Schumer told NAFCU’s Virtual Congressional Caucus he advocated for an additional $120 billion for the Paycheck Protection Program, including $60 billion for smaller institutions such as credit unions “to get funds into the community, because I know you and believe in you.”
Schumer said the HEROES Act, which has passed the House, has additional PPP set-asides for CDFIs.
“Unfortunately, the Republican majority has been on pause while the nation has suffered and I hope we can come back and get more done,” Schumer said.
He closed his remarks by adding, “Credit unions are the glue of our communities and essential to ensuring small underserved businesses can get the assistance they need.”