WASHINGTON–Following House passage and the president’s signature on a bill that provides funding for 95% of the federal government’s operations through September, the full $324 million has been allocated for the Community Development Financial Institutions fund for 2026.
Credit unions have been actively advocating for the funding after the Trump administration sought to zero the fund out and all but eliminate it earlier this year. The newly approved funding is similar to that of previous years and “paves the way for continued appropriations success in 2027,” noted CU Strategic Planning, which works to help credit unions secure CDFI grants.
“It’s good to see that we’re back to a normal funding process for the CDFI Fund. This paves the way for continued appropriations success in 2027,” said CU Strategic Planning CXO Mike Beall in a statement.
CEOs Applaud Move
CU Strategic Planning pointed to CDFI credit union leaders whom it said were part of that advocacy, including Southwest Louisiana Credit Union’s CEO Chad Miller.
“Over the last several months, Southwest Louisiana CU has worked closely with CU Strategic Planning on sharing the story of small CDFIs like ours to our legislators and I strongly believe that this partnership played a key role in ensuring the future of the Fund,” Miller said in a statement.
The credit union has branches in House Speaker Mike Johnson’s (R-LA) district, with Miller adding, “We were able to talk with several key regional offices of our members’ legislators, including Speaker Mike Johnson’s office, to share the direct impact that CDFI funds have on low-to-moderate income constituents and small businesses in rural Louisiana.”
Others Offering Comment
According to CU Strategic Planning, other CDFI credit union leaders have also expressed their reaction to the bill’s passage as well, with New Orleans Firemen’s FCU CEO Judy DeLucca stating, “We are very pleased that Congress has fully funded the CDFI Fund for 2026. This critical support allows us to continue doing the important work of serving people who deserve access to fair and affordable financial services, and it represents a meaningful win for small credit unions across the country. This is exactly the outcome we hoped for.”
