MCUL and CUNA Work to Restore CDRLF Funding in Appropriations Bill
Working in conjunction with CUNA, MCUL and other state credit union leagues were successful recently in gaining approval from the House Appropriations Committee to restore $2 million in funding for the Community Development Revolving Loan Fund (CDRLF) in Fiscal Year 18 (FY18), which begins Oct. 1, 2017. The Fund assists credit unions in serving low-income communities.
The initial version of the FY18 Financial Services and General Government Appropriation Bill, as passed out of the Financial Services and General Government Appropriations Subcommittee on June 29th, defunded CDRLF entirely. However, following a call to action by CUNA, state credit union leagues, including MCUL, with members of Congress serving on the House Appropriations Committee, began reaching out to those members to lobby for restored funding at the FY17 level, $2 million.
Congressman John Moolenaar (R-4-MI), a long-time credit union ally and a member of the House Appropriations Committee, heeded our call to restore CDRLF funding and supported an effort by the House Appropriations Chair to put $2 million in funding into the bill for the fund. The League’s Government Affairs team will continue to monitor funding of CDRLF for FY18 to ensure any efforts to defund the program are unsuccessful.
If you have any questions regarding federal legislative matters, please contact Todd Jorns, MCUL’s manager of federal legislative affairs via email or at 734.793.3445.Go to main navigation