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The Trump Administration’s newly announced reduction-in-force (RIF) plans would eliminate all staff positions at the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund, effectively halting its operations.
The sweeping cuts came just days after the U.S. Senate passed the 2025 National Defense Authorization Act, which included a bipartisan amendment to guarantee the future of the CDFI Fund.
“We have seen reports that the Treasury RIF has eliminated all CDFI Fund staff,” Jim Nussle, president/CEO of America’s Credit Unions, said. “After a win in the Senate-passed NDAA, cutting this staff would effectively cease the operations of the fund and significantly impact CDFI credit unions and communities across the country. We urge Congress to swiftly come to an agreement on funding.”
Credit unions represent the largest group of certified CDFIs, with 444 of the nation’s 1,375 certified institutions as of Aug. 12. The CDFI Fund plays a critical role in supporting lending and investment in low-income and underserved communities.
“The consequences of the shutdown are ramping up,” Nussle added. “Credit unions across the country are working however they can to support their members through this hard time.”
America’s Credit Unions said it will closely monitor the situation and continue to highlight the fund’s importance to communities nationwide, urging lawmakers to act swiftly to restore operational capacity.
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