ARLINGTON, Va. — As the two items of NCUA's budget that receive congressional appropriations take their legislative course, NAFCU encouraged lawmakers to apply historical levels for both the Community Development Revolving Loan Fund and the Central Liquidity Facility.
NAFCU Senior Vice President of Government Affairs Dan Berger wrote the Senate Appropriations Subcommittee on Financial Services and General Government asking that the CDRLF be replenished to $1 million and to maintain the $1.5 billion borrowing authority for the CLF. The House legislation, H.R. 2829, includes these appropriations levels. Additionally, NAFCU promoted increasing the funding for Treasury's Community Development Financial Institutions program, which many credit unions participate in.
NAFCU backed $100 million for the CDFI fund, which has also already cleared the House.
Recommended For You
Berger also wrote that NAFCU supports the $1.5 billion borrowing authority for the CLF, which provides credit unions a backup fund for extra stability. "Since 1978," he wrote, "the CLF has been critical to the survival of credit unions by providing a suitable source of liquidity to meet short-term and seasonal liquidity needs. Moreover, the CLF has been crucial to making credit available in unusual and/or emergency circumstances of a longer term resulting from regional or local difficulties."
NAFCU also asked that the CDRLF receive $1 million for program loans and Technical Assistance Grants. "The CDRLF is a fundamental component in providing low-income designated credit unions the opportunity to obtain loans and technical assistance grants to improve and enhance services to their members," Berger said. "The result is affordable financial services for those with modest means and an opportunity to keep assets within the community."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
