Inclusiv Statement on CDFI Fund Reduction In Force

The CDFI Fund’s more than 30-year track record partnering with CDFI-certified credit unions, as well as certified loan funds, banks and venture funds, is unmatched in delivering vital, high-impact capital to spur economic development in low-income communities across the country. Catalyzing at least $8 in private funding for every federal dollar, the CDFI Fund has earned strong bipartisan support for its effective use of federal funds.

Despite these achievements, the Trump administration has used the shutdown as a pretext to shut down the Fund, as Reduction In Force (RIF) notices have been issued to all Fund staff. This is not only improper, as the Fund has a statutory mandate to fulfill, it is also incredibly shortsighted and harmful economic policy. It will reduce community lenders’ ability to provide the safe and affordable capital and financial services people and small businesses need during times of economic uncertainty and mounting financial distress.

CDFI credit unions have played a vital role in supporting economic well-being in low-income, rural, urban and reservation-based communities, and the CDFI Fund must be allowed to continue its vital work to certify lenders and disburse Congressionally appropriated funding.