WASHINGTON, DC (April 21, 2026) |
The Defense Credit Union Council (DCUC) has submitted a letter to the Senate Appropriations Subcommittee on Financial Services and General Government for the record in advance of the upcoming hearing titled, “A Review of the President’s Fiscal Year 2027 Budget Request for the Department of the Treasury.”
In the letter, DCUC urges the Subcommittee to fully support and fund the Community Development Financial Institutions (CDFI) Fund at no less than the current enacted level.
“Defense credit unions rely on this program to deliver affordable financial services, small-dollar lending, and financial readiness support to servicemembers, veterans, and military families particularly in underserved and installation-adjacent communities,” says Jason Stverak, DCUC Chief Advocacy Officer. “We believe there is a pressing need for improved execution within Treasury, including reducing application complexity, accelerating award timelines, and ensuring that smaller, mission-driven institutions are not disadvantaged in accessing these critical resources.”
Given the direct connection between financial stability and military readiness, DCUC voiced that sustained investment in the CDFI Fund is not only sound economic policy but further translates to a national security imperative.
DCUC included a set of suggested questions for the record for Treasury Secretary Bessent focused on funding levels, program structure, and Treasury’s administration of the CDFI Fund.