Spending deal includes CUNA-recommended funding priorities

(January 14, 2014) — Funding for several CUNA-recommended credit union priorities and programs are included in an omnibus appropriations spending agreement approved by Congress late Monday.

“We’re delighted that lawmakers took note of our requests that these programs of vital importance to credit unions be funded and carried on,” said CUNA president and CEO Bill Cheney. “The efforts that will go forward as a result of this funding will ultimately help more people realize their financial goals through credit unions.”

As requested by CUNA, this new omnibus package provides an annualized amount of $226 million for the Community Development Financial Institutions Fund (CDFIF) and $1.2 million for the Community Development Revolving Loan Fund (CDRLF).

CUNA and World Coucil of Credit Unions (WOCCU) also requested $10 million for the cooperative development programs of the United States Agency for International Development, as well as $265 million for microenterprise and microfinance.  Both of these requested amounts were included in the omnibus agreement.

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