The MD|DC Credit Union Association, alongside Inclusiv and 27 credit union system partners, has sent a joint  letter to Congress urging legislators to maintain Community Development Financial Institutions (CDFI) funding for Fiscal Year 2026.

The letter emphasizes the CDFI Fund’s proven success in fostering economic opportunity and its ability to effectively leverage federal investment with private capital. “We strongly urge you to maintain the enacted FY 2025 level of $324 million in annual appropriation for the CDFI Fund in the 2026 budget,” the letter states, “so that CDFIs can continue to build upon this critical work that strengthens the American economy.”

The letter is in response to the President’s budget which proposes eliminating the CDFI’s Financial and Technical Assistance awards. These awards are crucial for CDFIs, as they enable investments in technology to scale lending and financial service delivery, and to expand products and services offered to underserved communities.