WASHINGTON, DC (June 23, 2026) |
Today, Defense Credit Union Council (DCUC) President & CEO Anthony Hernandez, Ret. U.S. Air Force Colonel wrote to Treasury Secretary Scott Bessent expressing concern regarding reported delays, uncertainty, and administrative challenges affecting Community Development Financial Institution (CDFI) Awards and disbursements.
Hernandez shared that many of DCUC member credit unions are certified CDFIs or serve communities that directly benefit from CDFI-supported lending, housing initiatives, small business financing, and financial counseling programs.
In the correspondence, Hernandez noted that while DCUC supports the Treasury Department’s efforts to maintain the integrity and responsible stewardship of the CDFI Fund, uncertainty around award timing and administrative capacity is creating challenges for institutions that rely on these resources to serve underserved and economically distressed communities:
“The CDFI Fund has long enjoyed bipartisan support because of its demonstrated ability to leverage federal resources alongside private capital to expand economic opportunity in communities that traditional financial institutions often struggle to reach. For military communities in particular, these programs can provide critical support to veterans launching small businesses, military spouses seeking economic mobility, first-time homebuyers, and families working to build long-term financial resilience. DCUC has consistently supported preserving the full mission of the CDFI Fund while improving program execution and transparency. We have previously expressed concerns regarding proposals that would significantly reduce funding, eliminate key program functions, or weaken the operational capacity necessary to efficiently administer awards and certifications. We continue to believe that maintaining a strong and effective CDFI Fund is essential to ensuring that underserved communities—including those connected to our nation’s military—have access to affordable and responsible financial services.”
As part of the correspondence, Hernandez respectfully requested the Treasury Department:
- ensure the timely obligation and disbursement of congressionally appropriated CDFI funds;
- provide greater certainty and transparency regarding award timelines and program administration;
- maintain sufficient staffing and operational resources necessary to effectively administer CDFI programs;
- engage directly with stakeholders regarding any forthcoming policy, regulatory, or procedural changes affecting award recipients and certified institutions; and, • continue supporting the critical role CDFIs play in expanding access to capital, financial inclusion, affordable housing, and small business development.
“We believe a constructive dialogue between Treasury officials and credit unions serving military and underserved communities would be beneficial as the Department evaluates the future direction of the CDFI Fund and its programs,” Hernandez concluded.