In a strong sign of support for the CDFI Fund, Congress has approved the FY2018 omnibus spending bill, which included $250 million for CDFI Fund Programs – the highest funding level in the history of the Fund. Congratulations to the entire CDFI community for turning out in force to successfully advocate for full funding of CDFI Fund programs in FY2018.
This is a major victory for CDFIs as well as for the communities they serve, made all the more significant in light of the Trump Administration’s FY 2018 budget proposal, which recommended the CDFI Fund grant programs be eliminated altogether. These record appropriations in FY2017 and FY2018 are a direct result of the incredible work of credit unions on the ground, the mobilization of the CDFI industry and the strength of CDFI Fund support throughout the credit union movement.
The Federation is your CDFI advocate in our industry. We’re committed to helping CDFIs share your stories and make your voices heard in Washington. And we’re really seeing the results! As we turn our focus toward preserving CDFI funding for FY2019, credit unions must remain engaged in advocacy work and collectively call on Congress to continue its bipartisan support for the critical programs administered by the CDFI Fund. Building upon our successes, a key component of our advocacy strategy will again utilize the power of sharing impact stories, like those featured in our newly updated CDFI Credit Unions Build Inclusive Economies report.
The Federation looks forward to working with our members, industry partners and the CDFI community to preserve funding for CDFI programs in FY2019 and beyond. Thank you again for your dedication and commitment to this work.