WASHINGTON —With credit unions and others awaiting disbursement of previously approved funds, the U.S. Department of the Treasury has named Chris Miller director of the Community Development Financial Institutions Fund.
Miller joins the CDFI Fund from Three Roots Capital, a certified CDFI based in Knoxville, Tenn., where his responsibilities included financial and administrative management and the organization’s access-to-capital programs, according to Treasury.
His appointment comes as the Trump Administration has worked to gut the CDFI fund and has delayed disbursement of money to many recipients, including credit unions that had previously been awarded grants.
“America’s Credit Unions congratulates Chris Miller on his appointment as Director of the CDFI Fund. He arrives with direct experience in community development finance, and we look forward to working with him,” America’s Credit Unions Chief Advocacy Officer Kathleen Coulombe said in a statement. “His appointment draws into sharp focus the impending deadline for FY2025 appropriations. Those awards have not been announced, and the funds expire on Sept. 30. Credit unions that reached the final stage of Financial Assistance review have been waiting since the spring. We urge Director Miller to make it his first order of business to announce and obligate those awards before the money lapses, and we will continue to press for full funding of the Fund in FY2027.”
‘Honored to Serve’
“I am honored to serve as a presidential appointee and director of the CDFI Fund, bringing my industry experience in community development finance to this important role,” Miller said in a statement.
In the statement, Miller said he looks forward to working with CDFI Fund employees, the industry and other stakeholders “to advance the Administration’s economic agenda, expand access to capital, and create opportunity in communities across America.”
Miller has 20 years of experience operating small businesses and providing them with access to capital, Treasury said, stating that at Three Roots Capital, he also provided companies with operational assistance involving financial management, transaction and cash-flow modeling, and preparations for raising capital.
Before joining Three Roots Capital, Miller worked as a portfolio manager overseeing a $150 million commercial loan portfolio that included small-business and middle-market exposure.
Additional Experience
Earlier in his career, Miller worked as an associate for approximately $50 million in equity funds focused on early- and growth-stage investments in southern and central Appalachia. His responsibilities included originating deals, conducting due diligence and administering the funds’ portfolios, according to Treasury.
Miller holds an MBA with a concentration in entrepreneurship and financial management from the University of Tennessee and a bachelor’s degree from the University of North Alabama.
