WASHINGTON–In a move welcomed by credit unions, the House has passed the Financial Services and General Government and National Security, Department of State, and Related Programs Appropriations Act, 2026 (H.R. 7006), which funds parts of the federal government through Sept. 30 and includes continued support for the Community Development Financial Institutions Fund.
The latter has been a credit union priority.
The legislation, one of the 12 annual appropriations bills that together set discretionary spending levels for the federal government, cleared the House with broad bipartisan support and now heads to the Senate. The package combines funding for financial services and general government operations with allocations for the State Department, national security programs and related agencies.
$324M Allocated for CDFI Fund
As the CU Daily has been reporting, CDFI credit unions have been in limbo after the Trump administration sought to eliminate any money for the CDFI Fund. It later also tried to fire the Treasury employees responsible for overseeing the fund.
A central provision of the legislation is the appropriation of $324 million for the Community Development Financial Institutions (CDFI) Fund in fiscal 2026 — matching last year’s funding level and well above some earlier proposals. Credit unions make up the largest number of CDFIs.
Other Programs Maintained
The measure also maintains other key community-focused programs, including $3.4 million for the National Credit Union Administration’s Community Development Revolving Loan Fund, which provides technical assistance and capacity building for credit unions serving low-income areas.
The Senate is expected to consider the bill in the coming days as lawmakers work to avert funding gaps before the current fiscal year deadline.
