JACKSON, MS – Late Monday, Congress approved a $900 billion coronavirus relief package that included $12 billion for community development financial institutions (CDFIs).
Hope Enterprise Corporation/Hope Credit Union (HOPE) CEO Bill Bynum released the following statement about the legislation:
“Prior to and throughout the pandemic, Community Development Financial Institutions (CDFIs) played an outsized role in meeting the financial service needs of America’s most vulnerable families, businesses and communities. The passage of a historic, bipartisan investment by Congress, with priority funding for minority serving CDFIs, equips these financial first-responders with vital resources to assist people and places that have been disproportionately affected by the pandemic. We commend Congressional leaders for working together to craft legislation that prioritizes the needs of chronically underbanked families, businesses and neighborhoods, and the CDFIs that serve them. We urge Congress and the White House to build on this bold and bipartisan effort in the months ahead, to ensure that America emerges from this devastating health, economic and social justice crisis as a more perfect union.”