WASHINGTON–With some members of Congress, including Republicans along with the Treasury secretary, having made statements that they support restoration of CDFI funding, one CU Hill advocate is saying such positions make her “hopeful” Congress will appropriate the money. 

The CDFI Fund was largely eliminated in the president’s skinny budget and has not gotten any fatter to date in Congress. Credit unions have been strongly lobbying for a full reinstatement of the CDFI Fund budget. More than 400 CUs are CDFIs.

“We certainly do have friends on both sides of the aisle and, given that strong support,  and I do think that we have a strong chance at being successful with getting some additional funding,” said Carrie Hunt, chief advocacy officer with America’s Credit Unions. “There are additional questions with the CDFI Fund relative to whether programs are ultimately going to be consolidated. and I think the issue with the CDFI Fund is relative to being a self-perpetuating program, which is the desire of the administration.”

‘Builds Upon Itself’

Hunt said America’s Credit Unions remains in discussions with Treasury over the future of the CDFI Fund.

“What is so great about the program is we can demonstrate with actual numbers and evidence how that money leaves (Washington) and ultimately gets put into the economy and builds upon itself tenfold,” Hunt stated. “We’ve been doubling down on data-driven policy decisions…and the same is true for the CDFI Fund.”

There has been some discussion in Washington that if funding is appropriated it will be limited to rural communities, which is an issue Hunt said America’s Credit Unions 
“has been watching.”