WASHINGTON–America’s Credit Unions Thursday commended Sen. Mike Crapo (R-ID) and Rep. Young Kim (R-CA) for leading a bicameral letter urging the U.S. Department of the Treasury and the Office of Management and Budget to preserve the Community Development Financial Institutions (CDFI) Fund and ensure it remains effectively staffed and resourced following the federal government shutdown.
The letter, signed by more than 100 Republican Members of Congress, underscores the CDFI Fund’s vital role in supporting economic development in rural and underserved communities across the nation.
“We deeply appreciate the leadership of Senator Crapo, Representative Kim, and every lawmaker who has lent their public support for the CDFI Fund. The CDFI Fund is one of the most effective tools our nation has to empower community-based lenders to drive meaningful economic growth and financial inclusion in underserved areas,” said Jim Nussle, ACU president/CEO. “Every dollar invested in the Fund returns multiple times that value to families, small businesses, and communities who need it most. We remain committed to working with Congress, the Administration, and our partners to ensure this critical program not only survives but thrives.”
Credit unions represent the largest group of financial institutions within the CDFI Fund, reflecting the movement’s mission to serve those left behind by traditional finance structures. As not-for-profit, member-owned cooperatives, CDFI credit unions deliver affordable products, expand access to capital, and create opportunity in communities across the country, ACU noted.
Throughout 2025, America’s Credit Unions said it has made preserving and strengthening the Fund a top priority, engaging in a sustained advocacy campaign that includes:
- Sending 13 letters to Capitol Hill and 9 letters to the Administration supporting the CDFI Fund
- Two high-level meetings with Treasury officials focused specifically on the Fund’s future
- Targeted outreach campaigns mobilizing CDFI advocates nationwide
- Multiple published op-eds and public communications highlighting the Fund’s economic impact
ACU added that it recently "helped secure broader bipartisan participation in the Crapo-Kim letter through direct outreach and collaboration with the Congressional CDFI Caucus, Inclusiv, and state leagues."
The Defense Credit Union Council last week moved to back the efforts of Crapo and Kim. DCUC led mobilization of defense credit unions nationwide to contact their members of congress regarding the CDFI reduction in force and its devastating impact on underserved and military communities. The trade group also sent a formal letter to Treasury Secretary Scott Bessent and was in contact with Crapo’s and Kim’s teams to support their efforts. DCUC also reached out to every congressional office to encourage them to sign onto the Crapo-Kim letter.