WASHINGTON—The Senate Appropriations Committee has released its FY2021 funding bills, with several containing funding for credit union priorities, although funding is currently lacking for the Community Development Revolving Loan Fund. Funding for the federal government is scheduled to expire Dec. 11.
The State and Foreign Operations (SFOPs) bill contains $20 million for the U.S. Agency for International Development’s Cooperative Development Program (CDP). The House-passed SFOPS bill funds the CDP at $17 million.
CUNA said it supports funding for the program, a global initiative that is designed to support the building of capacity among cooperative businesses and cooperative systems for self-reliance, local ownership, and sustainability.
The Financial Services and General Government bill also:
- Funds the Treasury’s Community Development Financial Institutions (CDFI) Fund at $262 million, the same as FY2020. The House-passed bill funds it at $273.5 million
- Does not include funding for NCUA’s Community Development Revolving Loan Fund. The House bill funds the CDRLF at $2 million
- Contains language in the report encouraging the Federal Communications Commission and the Federal Trade Commission to continue to engage with groups to reduce the number of robocalls nationwide and help protect consumers from fraudulent calls and scammers