Some community development credit union officials said that they rely on the funds provided by the Community Development Financial Institutions Fund (CDFI) to help provide start-up loans to businesses.

However, the Trump Administration has proposed killing the CDFI program as part of its effort to decrease funding for domestic programs in favor of a large boost in defense spending.

"It will be very tragic if, during the next four years, this program goes away," said Cheryl Fatnassi, CEO of Opportunities Credit Union in Winooski, Vt.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 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.

Regulatory & Compliance