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Federation Praises Increase in CDFI Funding

NEW YORK -- The National Federation of Community Development Credit Unions has cheered the increase in appropriations for the U.S. Treasury's Community Development Financial Institutions Fund, noting that this is the first time in recent years that the Fund has not had to fight for minimal allocations.

By David Morrison | Updated on December 26, 2007

NEW YORK — The National Federation of Community Development Credit Unions has cheered the increase in appropriations for the U.S. Treasury’s Community Development Financial Institutions Fund, noting that this is the first time in recent years that the Fund has not had to fight for minimal allocations.

“We are gratified and excited about this increase, which responds to the advocacy of the CDFI Coalition,” said Federation President/CEO Cliff Rosenthal. The Federation sits on the board of the coalition, which it helped to organize more than a decade ago. “We’ve fought a defensive battle for years, and this increase will bring us much closer to the level of funding of some years ago.”

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