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NAFCU, with other financial trade associations this week, urged leaders of the House and Senate Appropriations Committees and related subcommittees to support $250 million in fiscal 2018 funding for the Community Development Financial Institutions Fund.

"CDFI banks and credit unions are regulated mission-oriented financial institutions committed to promoting economic opportunity and providing responsible financial services in low-income communities," the letter stated.

The trades asked that the fiscal 2018 Financial Services and General Government appropriations bill include legislative and report language that "explicitly reaffirms Congressional intent that the U.S. Treasury Department's Community Development Financial Institutions (CDFI) Program support the entire diverse CDFI sector."

"No other Federal program provides this type of critical enterprise-level support that enables CDFIs to build capacity, leverage private capital, and expand lending and services for the benefit of low-income communities," the letter continued. "Over the past 20 years, these resources have enabled CDFIs serving distressed urban and rural communities across the nation to create jobs, promote small businesses and homeownership, support affordable rental housing, provide community services, and promote fair and responsible consumer loans and financial services."

This letter was sent to Senate Appropriations Committee Chairman Thad Cochran, R-Miss., and Ranking Member Patrick Leahy, D-Vt.; House Appropriations Committee Chairman Rodney Frelinghuysen, R-N.J., and Ranking Member Nita Lowey, D-N.Y.; Senate Financial Services and General Government Subcommittee Chairman Shelley Moore Capito, R-W.Va., and Ranking Member Chris Coons, D-Del.; and House Financial Services and General Government Subcommittee Chairman Tom Graves, R-Ga., and Ranking Member Mike Quigley, D-Ill.

Along with NAFCU, signers of this week's letter include the American Bankers Association, Community Development Bankers Association, CUNA, National Federation for Community Development Credit Unions, Independent Community Bankers of America and National Bankers Association.