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| Advocating for Full Funding of Credit Union Priorities in FY27 |
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The House Appropriations Committee will start marking up its FY27 Financial Services and General Government bill today, and America’s Credit Unions is urging the committee to maintain or increase amounts for several credit union-related funds.
The committee should fund the Treasury’s Community Financial Development Institutions (CDFI) Fund at $324 million, the same level as FY26. The subcommittee-passed bill contains $276.6 million for the CDFI Fund.
America’s Credit Unions would also support provisions to require the prompt dispersal of funding and address delays in releasing the FY25 and FY26 funds.
The letter also encourages the committee to:
• Appropriate $4 million for NCUA’s Community Development Revolving Loan Fund, which provides grants to credit unions serving low-income communities. The subcommittee-passed bill funds it at $3.4 million;
• Maintain the provision in the bill that would bar the Federal Reserve from issuing a Central Bank Digital Currency; and
• Reject any proposed reductions to the Small Business Administration’s lending and disaster relief programs, and any new proposed administrative fees for participating SBA lenders.
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