The Trump administration has rescinded reduction-in-force (RIF) notices issued last month to the entire staff of the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund. The reversal was first reported by Punchbowl News and is a significant win for credit unions and the communities they serve.

Created in 1994, the CDFI Fund expands access to capital in underserved urban and rural areas by fostering public-private partnerships. Nearly 500 of the 1,400 certified CDFIs are credit unions, and the program delivers a powerful return: every dollar granted to a credit union generates $12 in private investment.

America’s Credit Unions, state leagues, and Inclusiv engaged Congress, Treasury, and the administration throughout the shutdown to underscore the fund’s value. Their efforts helped secure a bipartisan show of support, including a letter from 103 Republican members of Congress urging the administration to reverse the layoffs.

The MD|DC Credit Union Association contacted Senators Angela Alsobrooks, Chris Van Hollen, and Lisa Blunt Rochester, all serve on the Senate Banking Committee, to express the impact the RIFs would have on local credit unions. The Association also reached out to every member of the Maryland, Delaware, and D.C. congressional delegation and coordinated with national partners to present a unified message.