DCUC Writes to Treasury, Requests Clarity on Status of CDFI Fund

WASHINGTON, D.C. – Yesterday morning, the Defense Credit Union Council (DCUC) sent a letter to U.S. Treasury Secretary Scott Bessent stating its strong support for the Community Development Financial Institutions (CDFI) Fund and urging for clarity on its future.

DCUC appreciates the Treasury’s recognition of CDFIs’ vital role and its commitment to stakeholder engagement. However, with Treasury’s recommendations on the CDFI Fund expected to have been submitted to the White House by March 21, per the March 14 Executive Order, DCUC is seeking an update on the status of the process.

DCUC previously highlighted to the Treasury how the CDFI Fund empowers nearly 500 credit unions to provide essential financial services—including small-dollar loans and financial education—to military members and underserved communities (recap here). DCUC stressed how the proposed reduction or possible elimination of this program threatens those efforts, potentially harming servicemembers, veterans, and low-income families.

“Credit unions serving vulnerable communities need clarity on whether and how they can continue providing critical services,” says Jason Stverak, DCUC’s Chief Advocacy Officer. “Prolonged uncertainty risks disrupting key initiatives that support economic development and financial well-being.”

DCUC respectfully requests that the Treasury, the Administration, and Congress ensure transparency and collaboration in determining the future of the CDFI Fund.

For more information, please contact Jason Stverak at [email protected] and visit dcuc.org/advocacy.