STATEMENT on Trump Administration FY2026 Federal Budget Proposal from America's Credit Unions

"America’s Credit Unions has reviewed President Trump’s FY 2026 budget request, and we are not aligned with the suggestion to eliminate the Community Development Financial Institutions (CDFI) Fund’s discretionary awards. We do share the President’s commitment to revitalizing rural communities—with credit unions currently operating roughly 900 branches that are the sole financial institutions in their census tracts, credit unions remain dedicated to serving all underserved communities, regardless of geography. America's Credit Unions has consistently led the charge to protect and strengthen the Fund, and we will continue to work with Congress and the Administration to secure full CDFI funding."
​- Jim Nussle, America's Credit Unions President/CEO
 
Additional context on the CDFI Fund:

• Over the past two years, the number of CDFI-certified credit unions has grown by 50%, reaching nearly 500 institutions that now serve over 19 million people through more than 2,800 branches nationwide.
• On a national scale, America’s 1,432 CDFIs operate in every state and territory, supporting a diverse range of small business owners and catalyzing private investment that creates or retains over one million jobs annually.
• The CDFI Fund has demonstrated robust financial management by overseeing $304 billion in loans that have supported more than 4.3 million businesses, enabled nearly one million families to access safe, stable, and affordable housing, and facilitated the development of over 5,000 community centers, including those dedicated to childcare, healthcare, and education, all while maintaining a remarkably low default rate of 0.36% in 2023 that underscores its sound financial practices and effective risk management.
• During economic transitions, such as the 2020 downturn, the Fund's role becomes even more critical as CDFIs acted as financial first responders, preserving jobs, keeping businesses afloat, and stabilizing communities in times of vulnerability, thus serving not only as a catalyst for economic growth during stable periods but also as a strategic reserve that enhances national resilience and contributes to America’s long-term security and prosperity.

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